THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22030, 9 February 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND • RETURN

, DECLINE IN DEPOSITS HIGHER NOTE CIRCULATION LONDON, Feb. 7 'The Bank of England return for the week ended February 6 is as follows: 'ISSUE DEPARTMENT Notes issued:— Govt, debt £11,015,100 In circu- Other Govt. lation £376,987,922 securities 245.71G.354 In bank- Other sealing dept. 75,446,204 rities . . 819,5G8 Silver coin 2,448.97t> *£260,000,000 Gold coin * & bullion 192,434,126 £452,434,12G £452,434,12G 'Amount of fiduciary issue, BANKING DEPARTMENT Capital . . £14.553,000 Govt, secuRest . . 3,624,853 rities . . £82,911,413 Deposits— Advances, Public .. 16.534,575 £9,270,686 Bankers, Other aecu£104.069,033 rities, Other acs., £9,906,969 19,183,655 £39,347,793' 143,41G.82G Notes . . 75,446,204 Seven day. Gold and etc., bills silver coin 587,982 £178,129,254 £178,129,254 The principal items of the above return compare as follows with those for last week, the proportion of the reserve being shown in the last line: — Deposits— Jan, 30 Feb. 6 Public .. .. £20,948,938 £16,534.575 Bankers . . 98,955.896 104,069,033 Other Accounts 42,102,032 39.347.793 £162,00G,86G £159.951.401 Securities— Government .. 82.521,413 82,911.413 Advances, etc. 9,290.627 9/276,686 Other . . . 10,227,320 9.906.9G9 Eeserve . . . - 78,118,209 76.034,186 Note circulation 374,941,384 376,987.922 Coin and bullion 193,059,959 193,022.108 Proportion . . 48.20 47.50 SHORT LOANS AND BILLS The Bank of England rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2£ per cent. Short loans are quoted at | per cent, compared with 7-1(3 per cent last week. The market rate of discount for best three months' bills is 5-16 per cent, same as last week.CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of January 31: —

FOREIGN EXCHANGES STERLING SLIGHTLY WEAKER British Wireless RUGBY, Feb. 7 The following rates on foreign exchanges are current, compared with the cabled quotations on February 6 and

NEW ZEALAND MONEY ABROAD The cost in New Zealand currency of the-pound sterling, and of the principal foreign units, on the latest quotations, is as follows:

Present Price Par

CUSTOMS EXCHANGE RATES

Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessel in New Zealand, finally declared rates being marked :

Briflbnne, Mnrn, .Japan, yon .. Hd Ardenvohr. America, dollars .. 4.91 7/ m Canadian Scottish, Canada, dollars' 4.90% Niagara. Canada, dollars . . . . 4.87 V« Port Auckland. America, dollars .. 4.87 5/ « Canadian Challenger, Canada, dol. 4,87% Golden Bear. America, dollars .. 4.87 l /« WHEAT, FLOUR AND PULSE LONDON, Feb. 7 Wheat. —Cargoes are fairly steady. Parcels are quiet. Futures —London: February and April, 19s 9d a quarter; June, 20s Gd. Liverpool: March, 4s BJj a cental; May, 4s Hid; July, 5s Ijjd. Spot trade dull. Australian, ex ship, 24s 6d to 25s 3d. Flour: Quietly steady. Australian, ex store, 18s 6d to 19s. Oats: Slow. Australian Algerian, 19s to 20s. A Gartons, 21s to 225. Peas: Blue, quiet; Tasmanian, 210s to 2205. Maples:* Rather more inquiry., Tasmanian, 52s to 535; New Zealand, 44s to 50s. Beans: New Zealand, 32s to 335. Raw sugar, beetroot basis: March delivery, 4s 3£d a cwt. WHEAT IN AMERICA CHICAGO, Feb. 7 Wheat. —May, 95| cents a bushel; July, 88| cents; 'September, 86* cents. The New York price for cash is 1 dollar 15i cents, . »

Price Variation £ s d a d Consols, 2i per cent Funding Loan, 4, 19C0- . 92 0 0 Same 30 120 7 6 2 6* War Loan, di . 108 5 0 5 0* Conversion Loan, 3J . Ill 5 0 5 0* Victory BondB, 4.. . 118 2 6 5 0' Com'wealth, 5, 1935-45 . 102 2 e. Same Com'wealth, 5, 1945-75 . 112 17 6 2 0* Com'wealth, 34, 1936-37 . 103 15 0 , Same Com'wealth, 4, 1943-48 . 106 15 0 2 6* Com'welatli, 32, 1948-53 . 104 8 9 6 3* N.S.W., 3, 1935 . . . 102 7. 6 3 9+ N.S.W., 3i, 1930-50 . 100 5 0 Same N.S.W., 4i, 1935-45 . 101 8 9 1 3t N.S.W.,,,5, 1935-55 . 103 16. 3 1 3 + Victorian, 3, 1929-49 . 99 15 0 3 9* Victorian, 4J, 1940-60 , 106 10 0 Same Victorian, 5, 1945-75 . 112 10 0 3 9* Queensland, 3, 1922-47 . 99 12 G 3 9* Queensland, 5., 1940-60 . 109 10 0 2 6* S. Aus., 3, 1916 or alter . 92 13 9 3 9* S. Australia, 5, 1945-75 . 112 10 0 Same W. Australia, 3, 1915-35 . 101 3 9 3 9 + W. Australia. 4, 1942-62 . 104 2 6 2 6* Tasmania, 31, 1920-40 . 101 10 0 Same Tasmania, 4, 1940-50 . 104 0 0 15 0* ■ New Zealand, 4$, 1948 58 110 10 0 45 o*: New Zealand, 3$, 1940 . 104 13 9 2 6+ New Zealand. 3, 1945 . 101 16 3 2 6t New Zealand, 6, 1936-51 .4 105 16 3 1 3* t Higher, • Lower i Ex interest. »

par:— Feb. 7 Feb.. 6 Par Montreal, dol. .. 4.88% 4.88,% 4.866 New York, dol. . 4.88 s /,. 4.88%, , 4.866 Paris, fr. 74% 74%, 124.21 Brussels, belga . 21.00% 21.03% 35.00 Geneva, fr. 15.13'/, 15.16% 25.22 Amsterdam, fl. . 7.24V, 7.26% 12.10 Milan, liro .. S7 l %, 57% 92.46 Berlin, r.m. 12.21 12.23 20.43 Stockholm, kr. . 19.40 19.40 18.159 Copenhagen, kr. . 22.39V, 22.39% 18.159 Oslo, kr. 19.90V, 19.90% 18.159 Vienna, sch, .. 26V. 26% 34.585 Prague, kr. Helaingfors, mark 117% 117% 164.25 226% 226% 129.23 Madrid, peR. 35% 8'5"/ al 25.221 Lisbon, escu. .. 110% 1)0% 110 Athene, dr. sis* 515* 375.00 Bucharest, lei. . 487% 487% 813.6 Rio de Janeiro, mil. 4%d* 4%d* 5.899d Buenos Aires, dol. 35d* 35d* 47.619d Montevideo, dol. 39%d* 39% d* 5 Id. Bombay, rupee . ] 8%?d 18% a d 18d Shanghai, dol. . 17%d Hongkong, dol. , 21% nd Yokohama, yen . 14 d 14d 24.58d Batavia, fl. 7.23% 7.23% 12.10 Belgrade, din. , . 226 220 276.31 Warsaw, zloty ,, 25.9G — 43.38 'Sellers.

Australia, pound 8 d s d .. 39 10.81 20 0.00 London, pound .. 24 10.50 20 0.00 New York, dollar # 9 5 1.13 4 1.31 Montreal, dollar 5 1.14 4 1.31 Paris, franc » • 0 4.01 0 1,98 Berlin, roichmark m m 2 0.45 4 11.74 Copenhagen, krone • * • 1 1.33 1 1.22 Yokohama, yen 1 5.41 2 0.58 Following arc the latest rates for purchases and sales of foreign exchange quoted by the Bank ot New South Wales, Auckland. They are subject to alteration without not ice — T.T. On Demand iofl N.Z. Currency Selling Buying Selling U.S.A., dol. 3.00 3.97 3.90% Canada, dol. 3.91% 3.96% 3.91% France, fr. 59.03 60.63 59.08 Noumea, fr. 58.28 61.68 58.33 Papeete, fr 58.08 61 .(>8 58.33 Belgium, belga .. 16.543 17.343 10.558 Germany, r.m. 9.599 — 9.(504 Jtaly, lire 45.62 — 45.('i() Switzerland, fr. .. 11.985 12.460 11.955 Holland, fl. 5.707 6.007 5.711 Java, fl 5.698 5.973 5.702 X.Z. pence to Japan, yen 17"/ m — — Shanghai, dol. .. 22% 21 Ms 22°/ ia India, rupee -22 3 / 22%, OOH/ irt Ceylon, rupee 003/ 22" 33 22 l V « Hongkong, dol. .. 0710/ >32 26>y 3a 21 1 Yi 7 Singapore, dol. 35% 31'/ie 35*VIO