THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22142, 22 June 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETUKN • INCREASE IN DEPOSITS STEADY GOLD HOLDING LONDON, June 20 The Bank of England return for the week ended June 19 is as follows: — ISSUE DEPARTMENT

Notes issued:— Govt, debt £11,015,100 In circu- Other Govt. lation £395,729,805 securities 246,874,319 In bank- Other secuing dept. 56,986,530 rities . . 318,781 Silver coin 1,791,800 *£260,000,000 Gold coin & bullion 192,716,335 £452,716,335 £452,716,335 'Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,553,000 Govt, secuRest . . 3,365,810 rities .. £94,941,044 Deposits— Advances, Public .. 13,594,820 r A'5,794,919 Bankers, Other 5ecu£101,025,623 rities, Other acs., £11,127,294 19,922,213 £37,005,143 141,030,766 Notes . . 56,986,530 Seven day, Gold and etc., bills silver coin 694,609 £172,544,396 £172,544,396 The principal items of the above return compare as follows with those for last week, the proportion of tho reserve being shown in the last line:— Deposits— Juno 12 June 19 Public .. .. £7,789,400 £13,594,820 Bankers .. 101,739,945 104,025,623 Other Accounts . 35,941,651 37,005,143 £145,470,996 £154,625,586 Securities— Government .. 92,346,044 94,941,044 Advances, etc. .. 5,871,578 5,794,919 Other .. .. 10.402,730 14,127,294 Reserve . . . . 54,657.301 57,681,139 Note circulation . . 398,761,275 395,729,805 Coin and bullion 193,'418,576 193,410.944 Proportion . . 37.50 37.30 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 2J per cent. Short loans are quoted at I per cent, same as last week. The market rate of discount for best three months' bills is £ per cent, as compared with & per cent last w<sek. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those June 13: — Price Variation £bd s d Consols, 2£ per cent ■ .. ' 85 5 0 5 Of Funding Loan, 4,' 19G0-90 117 17 G 17 Of War Loan, 3i .. .. 106 0 0 15 0t Conversion Loan, .. 107 17 6 15 Ot Victory Bonds, 4 _.. 116 0 0 30 Ot Com'wealth, 5, 1945-75 •.. 109 5 0 1 3t Com'wealth, Bi, 1936-37 .. 102 3 9 3 9+ Com'wealth, 4, 1943-48 .. 104 0 0 Same Com'wealth, 3J, 1918-53 .. 102 13 9 Same N.S.W., 3, 1935' .. ... 101-0 0 13* N.S.W., 3i, 1930-50 " 100 1 3 13* N.S.W., 4i, 1935-45 100 10 0 10 Of N.S.W., 5, 1935-55 ih 101 13 9 1 3 Victorian, 3, 1029-49 .. 98 0 0 7 6t Victorian, 4|, 19-40-60 .. 104 0 0 % 2 6t Victorian, 5, 1945-75 .. 103 15 0 7 6t Queensland, 3, 1922-47 .. 98 0 0 20 0| Queensland, 5, 1940-60 . . J. 07 5 0' 5 0t S. Australia, 3, 1916 or after 88 15 0 5 0 S. Australia, 5, 1945-75 .. 108 16 3 3 9t W: Australia, 4, 1942-62 . . 101 15 0 5 Or Tasmania. 3i, 1920-40 .. 101 10 0 10 0t Tasmania, 4, 1940-50 . . 102 0 0 10 0t New Zealand, 4J, 1948-58 109 15 0 Same New Zealand, 3*, 1910 .. 103 10 0 Same New Zealand, 3, 1945 .. 101 10 0 6 3+ New Zealand, 6.1936-51 .. 106 5 0 Same t Higher. "Lower. \tFOREIGN EXCHANGES DOLLAR AND THE FRANC British Wireless RUGBY, June 20 The following rates on foreign exchanges are current, compared with the cabled quotations on June and par:— June 20 June 19 Par Montreal, dol. . . 4.93% 4.93% 4.866 New York, dol. . 4.93 4.93%# 4.866 Paris, fr. . . 74yi« 74 l, / 1B 124.21 Brussels, beiga . 29.15 29.16 35.00 Geneva, fr. .. 15.03% 15.10 25.22 Amsterdam, fl. . 7.25% 7.26% 12.10 Milan, lire .. 59% • &$ 13 At 92.46 Berlin, r.m. .. 12.24 12.25% 20.43 Stockholm, iir. . 19.39% 19.39% .18.159 Copenhagen, kr. . 22.39% 22.39% 18.159 Oslo, kr. .. 19.90% 19.90% 18.159 Vienna, sch. . . 26% 26% 34.585 Prague, kr. . . 117% 117 s / 164.25 Helsingfors, mark 226% 226% 129.23 Madrid, pes. . . 36 36>' 1# 25.221 Lisbon, cacu. .. 110% 110% 110 Athens, dr. .. 515* 515* 375.00 Bucharest, lei. . 485 482% 813.6 RiodeJaneiro.mil. 4%d* 4%d* 5.899 d Buenos Aires, dol. 35d* 35d* 47.619 d Montevideo, dqj. 39% d* Bombay, rupee . 18% d 18% d 18d Shanghai, dol. .. ]9'Vi o d 19% d Hongkong, dol. . 27% d 28% d Yokohama, yen . 14% d « 14% d 24.55 d Bntavia, fl. .. 7.22% 7.23% 12.10 Belgrade, din. .. 216 216 276.31 Warsaw, zloty .. *26.15 —•; j 43.38 'Sellers.

NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis, subject to alteration without notice: — Selling: United States Canada T.T 8.95% 3.95% On demand .. 3.95% 3.96Va Buying: On denjand .. "4.00 Vi 4.01 Following are tho latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice: — T.T. On Demand To £ 1 N.Z. Currency Selling Buying Selling U.S.A., dol. . . 3.95% 4.00% 3.95% Canada, dol. .. 3.95% 4.00% 3.96% France, fr. . . 59.31 60.91 59.36 Noumea, fr. . . 58.56 61.96 55.61 Papeete, fr. .. 58.56 61.9G 58.61 Belgium, 'belga .. 23.106 Germany, r.m. . . 9.618 Italy, lire . . . . 47.31 Switzerland, fr. .. 11.941 12.416 11.951 Holland, fl. .. 5.715 6.015 5.719 Java, li 5.690 5.965 5.G94 Sweden, kr. .. 15.159 15.829 15.469 Norwnv, kr. . . 15.870 16.240 15.880 Denmark, kr. .. 17.878 18.248 17.888 Austria, sell. .. Czecho-Slovukia, cr. 94.45 N.Z, pence to Japan, yvn .. 17'y 18 —' Shanghai, dol. .. 25% 23 ,s / ia 25%. India, rupee . . 22"4 a 22% a a 222 2 Ceylon, rupee . . 22 3 %, a 22% a 3 %a Hongkong, dol. . . 35% 34% 3 35%„ Singapore, dol. . . 35% 2 34% 35% a The cost in New Zealand currency of tho pound sterling, and of the principal overseas units, on the latest quotations, is as follows: Present Price Par s d ad Australia, pound •• 19 10.81 20 0.00 London, pound .. 24 i 0.65 20 0.00,, Fiji, pound .. .. 22 5.66 20 0.00 New York, dollar .. 5 0.48 4 1.31 Montreal, dollar .. 5 0.55 4 1.31 Paris, fianc .. .. 0 4.00 0 1.9b Berlin, reichmarlc .. 2 0.39 0 11.<4 Copenhagen, krone .. 1 1-33 1 1.-2 Yokohama, yen . . .. 1 5.57 . 2 0.53 CUSTOMS EXCHANGE RATES Pates of exchange ruling at the announced dates of departure of vessels named are shown in the following table. They are subject to confirmation by tho Customs Department when tho exact time of departure is learned on arrival of the vessels in New Zealand. Finally declared rates-are marked*: — City of Salisbury, America, dollars 4.95% Wairuna, America, dollars .. . . 4.95 Golden Rear, America, dollars . . 4.92% ' Sydney Mam, Japan, yen ~ . . 14% d Canadian Victor, Canada.; dollars 4.9; i% Aorangi, Canada, dollars .. .. 4.93yi WHEAT, FLOUR AND PULSE LONDON, June' 20 Wheat.—Cargoes are lower. .Parcels ore easier. Futures.—London: Juno, 23s 5d a quarter; September, 22s sd. Liverpool: July, 5s 2Jd a cental; October, 5s 3£d; December, 5s 3Jd; March, os 3d. Spot trade quiet. Australian ex ship, 27s 9d. Flour, quietly steady. Australian ex store, 21s to 21s 3d. Oats, firm. Peas and beans, unchanged. Raw sugar, beetroot basis July delivery, 4s 6d a cwt.