THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22166, 20 July 1935, Page 9

THE MONEY MARKET

BANK OF .ENGLAND RETURN DEPOSITS SHOW DECLINE DISCOUNT RATES UNCHANGED LONDON. July 18 The Bank of England return for the ! week ended July 17 is as follows: ISSUE DEPARTMENT Notes issued:— iGovt. debt £11,015,100 ;In circu- Other Govt. lation £399,507X87 I securities 240,023,007 iln bunk- Other secu- | ing dept. 53,149,154 rities .. 075,119 Silver coin 1,680,774 *200,000,000 Gold coin & bullion 192,71(5,841 £452,710.811 £452,710,841 'Amount of fiduciary issue. BANKING DEPARTMENT I Capital .. £14,553,000• Govt, secu- ' Kest .. 3,520,0081 rities .. £91,880,044 Deposits— I Advances, : Public .. 7,683,273 £9.270,901 1 Hankers, | Other secu- ; £103.582.300 • rities. I Ol hemes., I £13,549.485 22.820,380 ! £38.844.770 112,427,1.30 Notes .. 53,119.151 I Seven day, , Cold and j etc., hills £108,381.077 ! £108,351.077 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— July 10 July 17 Public .. .. £8.301.374 £7.883,273 Bankers .. 108,593.215 103.582,300 Other Accounts . 30.300,013 38.844.770 £153,320,002 £150.310,409 Securities— Government .. 95.801,044 91.880.044 Advances, etc. . . 10,372,019 9,270.901 Other .. 12,581,781" 13.549,485 Reserve .. 52.019,595 53,071,047 Note circulation . 400,052,245 399,507,097 Coin and bullion 193,271.840 193,239.334 Proportion . . 34.30 35.70 SHORT LOANS AND BILLS The Bank of England rate of discount is 2 per cent, to which it was reduced on Juno 30, 1932, from 2j per cent. Short loans are quoted at 3 per cent, same as Inst week. The market rate of. discount for best three months' bills is jj- per cent, same as last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations lor consols and colonial inscribed stocks, compared with those of July 11: — Price Variation £sd s d Consols 2} per cent . . 85 15 0 5 0* Funding Loan. 4, 19(50-90 119 0 0 5 01 War Loan. 3J . . 10(5 15 0 Same. Conversion Loan, 3} . . 108 7 0 2 0* Victory Bonds, 4 .. 117 0 0 0 3* Com'wealth, 5. 1945-75 .. 110 5 0 1 3* Com'wealth. 31, 1930-37 .. 102 5 0 Bamc. Com'wenlth, 4, 1943-48 . 104 17 0 1 3* Com'wealth. 33. 1948-53 . . 103 1 3 1 3+ Com'wealth. 31. 1950-G1 . . 98 12 6 Same. N.S.W., 3, 1935 .. 101 1 3 1 3* N.S.W., 3i, 1930-S0 . . 100 5 0 2 fit N.S.W., 4j. 1935-45 .. 100 15 0 5 01 N.S.W., 5, 1935-55 . . 102 3 9 2 61 Victorian, 3. 1929-49 . . 93 15 0 Snme. Victorian, 4|, 1940-00 . . 104 15 0 2 fi* Victorian, 5, 1945-75 . . 110 0 0 5 01 Queensland. 3, 1922-47 . . 98 12 S 7 <s* Queensland. 5. 1940-00 . . 107 12 6 Same. S, Australia, 3, 1910 or after 88 . 5 0 15 0* S. Australia, 5. 1945-75 .. 109 18 9 <5 3* W. Australia. 4. 1912-02 .. 102 5 0 2 6t Tasmania, 3}, 1920-40 .. 102 10 0 2 Ot Tasmania. 4. 1940-50 . . 102 5 0 2 (9 New Zealand, 41. 1948-58 110 5 0 Same. New Zealand, 3}, 1910 .. 104 2 6 20» New Zealand, 3, 1943 .. 101 10 0 2 fi* New Zealand. 0. 1930-51 . . 103 13 9 Same tHigher. 'Lower.

FOREIGN EXCHANGES STEADINESS OF DOLLAR British Wireless RUGBY, July 18 The following rates on foreign exchanges are current, compared with the cabled quotations on July 17 and par:— July 18 July 17 Par Montreal, dol. . . 4.95% 4.96% 4.800 New York, dol. . 4.90 4.9(5 4.800 Paris, fr. . . 74 l %« H 3/. 124.21 Brussels, belga . 29.32 29.36 35.00 Geneva, fr. . . 15.11 15.13 25.22 Amsterdam, fl. . 7.20% 7.27% 12.10 Milan, lire .. 59'Yifl GO%« 92.40 Berlin, r.m, .. 12.20 12.27% 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 Copenhagen, kr. . 23.39% 23.39% 18.159 Oslo, kr. .. 19.90% 19.90% 18.159 Vienna, sch. .. 20% 26% 34.585 Prague, kr. . . 118% 118% 164.25 HelsinKfors. mark 221>7 8 22(Sy e 129.23 Madrid, pes. . . 3t>% a 30%, 25.221 Lisbon, escu. .. 110% 110% 110 Athens, dr. .. 510* 516* 375.00 Bucharest, lei. . 185 485 813.0 Rio de Janeiro mil. 4%d* 4%d* 5.899 d Buenos Aires, dol. 35d* 35d' 47.619 d Montevideo, dol. 39% d* 89% d* 51d Bombay, rupee . 18% d 18% d 18d Shanghai, dol. . 18 13 /iod Hongkong, dol. . 25% d 25% d Yokohama, yen . 14% d 14% d 24.58 d Batavia. fl. . . 7.23% 7?23% 12.10 Belgrado, din. . . 215 215 276.31 Warsaw, zloty . . 20.18 •Sellers.

NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday, on a Now Zealand currency basis, subject to alteration without notico:— Selling: United States Canada T.T 3.97% 3.97% On demand .. 3.97% 8.98% Buying: On demand . . 4.02% 4.02% Following are the 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. .. 3.97% 4.02% 3.97=% Canada, dol. . . 3.98V4 4.03 3.98% Franco, fr. .. 59.31 00.91 59.30 Noumea, fr. .. 58.50 61.96 58.61 Papeete, fr. . . 58.5G 61.96 58.61 Belgium, belga .. 23.247 (jormany. r.m. .. 9.646 Italy, lire . .. 47.46 Switzerland, fr. .. 11.962 12.437 11.972 Holland, il. .. 5.719 6.019 6.723 Java. II 5.698 5.973 5.702 Sweden, kr. .. 15.461 15.831 15.471 Norway, kr. . . 15.871 16.241 15.881 Denmark, kr. . . 17 878 18.218 17.888 Austria, sch. ■ . . 20.57 Czecho-Slovakia, cr. 94.85 N.Z. pence (o •lapnn. yen . . 17'%i, Shnnghai, dol. . . 23"/,« 22} 23% India, rup<>e .. 22°%, 22%, 22 3l / 3 g Ceylon, rupee . . '22 a % a 22%, 22 a %, Hongkong, dol. . . 32Vi 31%. 32%, Singapore, dol. . . 35%, 34Vi» 35%, The cost ill New Zealand currency of the pound sterling, and of the principal oversea units, on the latest quotations, is as follows:

Present Prico Par bd b d Austin lia. pound .. 19 10.81 20 0,00 London, pound .. 21 10.05 20 0.00 Fiji, pound . . . . 22 5.66 20 O.OU New York, dollar .. 5 0.18 4 1.31 Montrenl, dollar . . 5 0.2:) 4 1.31 Pnris. franc .. .. 0 8.99 0 1.98 i Berlin, roielunnrk .. 2 0.35 0 11.74 Co pen h tiff en, krone .. 1 1.33 1 1.22 Yokohama, yen .. ~ 1 6.57 2 0.58 CUSTOMS EXCHANGE RATES Kates of exchange ruling at tho announced dates of departure of vessels named are shown in tho following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in Now Zoaland. Finally declared rates are marked*:— Benholm, America, dollars .. .. 4.93 V ,O Canadian Highlander, Canada, dol. 4.9iV 4 Hauraki, America, dollars .. .. 4.93"/,, Brisbane Mnru, Japan, yen .. 14% d City of Glasgow, America, dollars 4.96%„ FRENCH BANK RATE PARIS, July 18 The French bank rate has been reduced to 3J per ceufc.