RESERVE BANK RETURN

New Zealand Herald, Volume LXXII, Issue 22195, 23 August 1935, Page 7

RESERVE BANK RETURN

RISE IN NOTE ISSUE STERLING DECREASED MOVE IN INVESTMENTS [BY TELEGRAPH —PRESS ASSOCIATION'] W ELLI N G TON, Thursday Tlio Reserve Bank return for the week ended August 10 was gazetted today. 'lhe statement is balanced at £25*9G( 3,557, or £2.'i0,900 less than at the dose of the previous week. After a prolonged period of almost unbroken reduction, the note issue has moved the opposite way, there having been an increase of £ l."i,(>l0. State deposits have iullen by £lll,ll-, while the holdings ot the trading banks are £'81,820 higher. Other demand liabilities have increased by JL'7(5,508. Sterling exchange has decreased by £2ll ,(i!>7. After having remained unchanged for months, investments show an increase o' £8783. Other changes are of a minor character. The statement, with variations, compared with the week belore, is as follows: — LIABILITI EH Variation 1 Capital .. .. £500,000 Same 2. Gen. leuerv© . . 1,000,000 Same 3. Bank notes . . 8,780,052 43,610+ 4. Demand liabilities—(n) State . . 11,111,600 441.112* (h) Banks .. 4,103,065 84.820+ (c) Other .. 403,812 7G,508t 7. Other liabilities 63,023 726* Total . . . . £25,906,557 £236,900* ASSETS 8. Reserve—(a) Gold .. .. 2,801,732 Same (!>) Sterling Ex. 20,812.821 211.607* 9. Subsidiary coin .. 223,026 1,796* 12. Investment . . 2,102,858 8,783+ 11. Other assets .. 26,120 2,189* Total .. £25,966.557 £236,900* 'Lower. Proportion of reserve to notes and other demand liabilities. 96.7G per cent (96.52 last week). GOLD STILL FALLING LOWEST PRICE OF YEAR QUOTATIONS FOR SILVER (.Received August 22, 9.35 p.m.) LONDON, Aug. 21 Fine gold is quoted to-day at £6 19s 11 Jd an oz., compared with £7 Os Id yesterday. To-day's quotation is the lowest this year to date. Silver is quoted at 29d an oz. spot and 28 11-l(3d forward, compared w.ith 29d and 28 9-IGd yesterday. The quotation for silver at per fine oz. is 31 5-1 Gd, same as yesterday. FOREIGN EXCHANGES STERLING RATHER STRONGER (Received August 22, 5.55 p.m.) British Wireless .RUGBY, Aug. 21 The following rates on foreign exchanges are current, compared with the cabled quotations on August 20 and

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 3.99 V; 4.007, On demand . . 3.99% 4.01 Buying: On demand . . 4.01'/< 4.05% 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

CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of vessels named are shown in tlio following table. They are subject to confirmation by tho Customs Department when the exact time of departure is learned on arrival of the vessel in New Zealand. Finally declared rates are marked*: — Am;lo Canadian, America, dollarß 4.nsVi«i Nnrbada, imlia. rupee .. .. lß%d M<>ll>oiirno Mni'ii, Japan, yen .. 14V, a d ('imadian Planter, Canada, <lollnra 4.o(i'/i Sheaf iJolmc, America, dollars .. 4.90% PRICES OF METALS TIN STILL RISING (Received August 22. 9.35 p.m.) LONDON, Aug. 21 Following are to-day's quotations on the London metal market, compared with those of August 20: Aus. 21 A up. 20 I 'or ton I'or ton X s <1 i' H d Copper, stall., epot .. .Tl 7 (i H 3 Coper, Btnn.. ;) mos. .. •'!.') 15 7J 83 10 7J Copper, electrolytic . . 3'< 2 (> 30 10 0 to 87 0 0 Copper, elec., wiro bars 37 2 0 37 0 0 Lead, soft, Rpot .. 1(1 2 (4 15 IS 9 Lead, soft, forward . . 10 2 (i 10 0 0 Spelter, upot . . .. 15 0 0 11 18 9 Spelter, forward . . 15 5 0 15 .'1 0 Tin, stnn., spat . . 225 15 0 222 5 0 Tin, elan., 3 mos. . . 2l(> 7 (> 211 15 0 CANADIAN WHEAT ESTIMATE OF CROP WINNIPEG, Aur. 21 Based on conditions at August 20, the Manitoba, Saskatchewan and Alberta. wheat crop is estimated at 295,000,000 bushels.

par:— Aug. 21 Aug. 20 Par Montreal, do], . . •1.99% 4.99% 4.806 New York, dol. . 4.98%, 4.98%,) 4.806 I'aris, fr. 7 5', a 75 Yin 124.21 Brussels, belga . 29.50 29.48 35.00 Geneva, fr. 15.23 15.22 25.22 Amsterdam, fl. . 7.35 7.35 12.10 Milan, lire Berlin, r.m. <;o",„ 00"i „ 92.16 12.31'/, 12.34 20.43 Stockholm, kr. . 19. 19.39!/, 18.159 Copenhagen, kr. . 2a..'i9'/ a 23.39Va 18.159 Oslo. kr. 19.9014 19.90'/, 18.159 Vienna, sch. 2ij'A 2G'/ a 34.585 Prague, kr. ii ijy 4 119Vi 104.25 Helsingfors, mark 220% 221 \ 7 A 129 93 Madrid, pes. .. 36 VS 3(1 15-04 25.221 Ijisbon, escu. .. 110% 110% no Atliens, dr. 517* 517* 375.00 Bucharest, lei. . 625* 025* 813.0 Kio do Janeiro, mil 4 4'/,d* 6.899d Buenos Aires, dol. ,'!5d* 35.1* 47 .«T19d Montevideo, dol. 39%d* 39%d 51 d Bombay, rupee . lPVnd i8Vsd 18d Shanghai, dol. . 17/<d 17 13 /,«d — Hongkong, dol. . 23V, n d 23"/ J6 d — Yokohama, yen . i4y,„d 34-y lB d 24.58d Bntavia, fl. 7.33 Y a 7.3 IY, 12.10 Belgrade, din. ,. 217 "Sellers. 217 27G.31

To CI N.Z. Currency Selling Buying Selling U.S.A., dol. 3.99% 4.01% 3.99% Canatla, dol. 4.01)% 4.05% 4.00% Krnnce, fr. 59. C,9 01.29 59.71 Noumea, fr. 58.91 02.31 58.99 Papeete, fr. 58.91 02.3-1 58.99 Belgium, belga . . 23.388 — 23.403 Germany, r.m. 9.700 — 9.711 Italy, lire . 48.01 — 48.05 Switzerland, fr. .. 12.055 12.530 12.005 Holland, ti. 5.788 0.088 5.792 Java, fi 5.770 0.015 5.774 Sweden, kr. 15.457 15.827 15.407 Norway, kr. 15.807 10.237 15.877 Denmark, kr. 17.S7B 18.218 17.8H3 Austria, sell. 20.52 — 20.51 Czecho-Rlovakia, cr. 95.57 — 95.02 N.Z. pence to 17% Japan, yen — 22"/,, Shanghai, dol. 22 2 %, 2!'V,„ India, rupee 2 2* % j 22%, 22 2, /, a Ceylon, rupee . . 2 2 2 % a 2'2%a 22"/,, Hongkong, dol. . . 30% a 28% 30 % a Singapore, dol. . . 35/o 31'/m 35'/if, Tlio cost in Now Zealand currency of the pound sterling, and of tlio principal overseas units, on the latest quotations, is as follows: — Present Price Par R <1 r d Australia, pound .. 19 10 81 20 0.00 London, pound .. 21 10.05 20 0.00 Fiji, pound .. 22 5.00 20 0.00 New Yo'k, dollar .. 4 11.91 4 1.31 Montreal, dollar .. 4 11.70 4 1.31 Paris, franc . . o 3.97 0 1.98 Berlin, reichmark 2 0.18 0 11.71 Copenhagen, krone 1 1.33 1 1.22 Yokohama, yen . . . . 1 5.04 2 0.58