THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22172, 27 July 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND KETURN DECLINE IN DEPOSITS STEADY GOLD HOLDING LONDON, July 25 The Bank of England return for the week ended July 24 is as follows: — ISSUE DEPARTMENT Notes issued : I Govt, debt i 11,015.100 In circu- 'Other Govt. lation £'400,809,953 securities 246,378,950 In bunk- Other sealing dept. 51,906,898 rities . . "'5966,305 Silver coin 1,639.585 •£260,000,000 Gold coin & bullion 192,716,851 £452,716,851 £452,716,851 'Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,553.000 Govt, secuRest .. 3,557.962 i rities .. £88,741.044 Deposits— 1 Advances, Public .. 8,871,219: £10,322.373 Hankers, Other 5ccu£100,815,039 rities, Other lies., £12.890.817 23,213,190 £36,606,954 137,421,993 Notes . . 51.906.89S Seven day, Gold and etc., bills silver coin 643.042 £161,401,174 £164,404,174 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 17 July 24 Public . . . . £7,883,273 £8.871.219 Bankers . . 103.58J2.360 100,815,039 Other Accounts . 38,814,776 36,606,954 £150,310,409 £146.293,212 Securities— , Government . . 91,886,044 88,741,044 Advances, etc. . 9,276,901 10.322,373 Other . . . . 13,549,485 12,890,817 Reserve 53,671,647 52,449,940 Note circulation . 399,567,087 400,809,953 Coin and bullion 193,239,334 193,259.893 Proportion . . 35.70 35.80 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 3 per cent, same as last week. The market rate of discount for best th'ree months' bills is J 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 July 18: — Price Variation £sd s d Consols, 2} per cent .. 85 10 0 5 0* Funding Loan, 4, 1960-90 119 2 6 2 6+ "War Loan, 3J .. .. 106 15 0 Same Conversion Loan, 34 .. 108 5 0 2 6* Victory Bonds, 4 . 117 0 0 Same Com'wealth, 5, 1945-75 . . 110 8 9 3 9t Com'wealth, 3J, 1936-37. 102 0 0 6 0? Coin'wealth, 4, 1943-48 . 104 17 6 Same Com'wealth, 33, 1948-53.. 103 2 6 1 3t Com'wealth. 31. 1956-61 . . 98 13 9 1 3t N.S.W., 3. 1935 . . .. 102 0 0 18 St N.S.W., 34, 1930-50 . . 100 7 6 2 61 N.8.W., 44, 1935-45 . . 101 0 0 5 Ot N.S.W., 5, 1935-55 .. . . 102 8 9 5 Ot Victorian, 3, 1929-49 . . 98 15 0 Same Victorian, 4}, 1940-60 ..105' 0 0 5 Ot Victorian, 5, 1945-75 .. 110 0 0 Same Queensland, 3, 1922-47 .. 99 0 0 7 6) Queensland, 5. 1940-60 .. 103 0 0 7 6+ S. Aus.. 3, 1916 or after 88 11 3 6 3t S. Australia, 5, 1945-75 .. 109 15 0 3 9* W, Australia. 4. 1942-62 . . 102 8 9 3 9t Tasmania 3J. 1920-40 .. 102 10 0 Same Tasmania. 4. 1940-50 .. 103 0 0 15 Ot New Zealand, 44, 1948-58. . 110 7 6 2 6t New Zealand, 3}, 1940 .. 104 7 6 5 0t New. Zealand, 3. 1945 ... 101 '/ 6 2 6* New Zealand, 6, 1936-51 .. 103 .17 6 8 91 t Higher. * Lower. . = -# ™ FOREIGN EXCHANGES GUILDER SLIGHTLY STRONGER British Wireless RUGBY, July 25 The following rates on foreign exchanges are current, compared with the cabled quotations on July 24 and par:— July 25 July 21 Par Montreal, dol. 4.90% 4.96% 4.866 New York, dol 4.95% 4.95%„ 4.800 Paris, fr. . 75 75 124.21 Brussels, belga 29.22 29.23 35.00 Geneva, fr . . 15.21 15.21% 25.22 Amsterdam, fl . 7.35% 7.36% 12.10 Milan, lire . . 60%,, 60% 92.46 Berlin, r.m. .. 12.32 12.35 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. . . 26V. 34.535 Prague, kr. .. 119% 119% 1(54.25 Helsingfors, mark 226% 226% 129.23 Madrid, pes. " . . 86%« 30%« 25.221 .Lisbon, escu. .. 110% 110% 110 Athens,, dr. . . 516* 510* 375.00 Bucharest, lei. . Riode.Taneiro.mil. 4%d* 4%d" 5.899 d Buenos Aires, dol. 35d* .lad * 47.619 d Montevideo, dol. 39% d' 39% d" 51d Bombay, rupee . 18% d 18% d 18d Shanghai, dol. 18% d IB%d Hongkong, dol. 25% e d 25%„d Yokohama, yen 14% 2 d 14Vnd 24.58 d Batavia, ti. 7.32% 7.35% 12.10 Belgrade, din. . 216 216 276.31 Warsaw, zloty . . 26.25 '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. .. .. 3.97% 3.98% On demand .. 3.98% 8.95% Buying:;-^' On demand .. 4.02% '4.03 . 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% <3.98% Canada, dol. . . 3.93% , 4.03% 3:98% France, fr . . 69.04 Noumea, fr. .. 58.89 Papeete, fr. . . 58.89 Belgium, belga 23.175 Germany, r.m, .. 9.706 Italy, lire . . 47.99 Switzerland, fr. .. 12.021 Holland, fl. .. 5.791 Java. fl. .. .. 5.770 Sweden, kr. . . 15.457 15.827 15.467 Norway, kr. . . 15.870. 16.210 15.880 Denmark, kr. .. 17.H78 18.248' 17.888 Austria, sell. . . 20.52 Czecho-Slovakia, cr. 95.57 N.Z. pence to Japan, yen l 7' s /,«. Shanghai dol 24%, 22%. 23 s %, India, rupee . 22 J % S 22%, 22 a %, Ceylon, rupee 22"/, s 22%, 22 J % S Hongkong, dol . . 32'/,. 31% 82% Singapore do) . . 35% 34%, So/,* The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: — Present Price - Par sd s d Australia, pound .. 19 10.81 20 0.00 London, pound . . 24 10.65 20 0.00 Fiji, pound .. .. 22 5.66 20 0.00 New York, dollar .. 5 0.23 4 1.31 Montreal, dollar .. 6 0.12 4 1.31 Paris, franc .. 0 3.98 0 1.98 Berlin, reichmark .. 2 0.23 0 11.74 Copenhagen, krone .. 1 1.33 1 122 Yokohama, yen . . .. 1 5.61 2 0.58 CUSTOMS EXCHANGE RATES Hates of exchange ruling at the announced dates of departure of 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 vessels in New Zealand. Finally declared rates are marked* . Renhohn. America, dollars .. . . 4.93%,, Canadian Highlander. Canada, dol. 4,94% Hauraki, America, dollars .. . 4.83 /,# Brisbane Maru, Japan, yen .. City of Glasgow, America, dollars 4.95 V,* Mariposa. America, dollars . . . . 4.96% n CALL AND DIVIDEND LIST Dividends— Due Colconda Holdings—s p.e. .. To-day Union Bank—int., 2s 6d a share July 31 Auckland Gas—int., 2J p.c. .. Aug. 1 Mossy Creek—ld a fhare .. .. Aug. 1 Dom. I. and 8.-~4 p.c. ~ .. Auk." 6 N.Z. Insurance— final. Is a share Aug. 6 Staples' Brewery—int., 24 p.c. .. Aug, 7 Com. Bank Aus.—final, pref., 4 p.c, jp.a.: old., 0 2-3 p.c. p.a. Aug. 8 N.Z. Farmers' Pert.—s4 p.c. .. Aug. 15 Christchurch Gas—int., 3 p.c. .. Aug. Fllectrolytic Zmc—ord.. 5 p.c.; pref.. 8 p.c. v.* Bep. 10