THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22202, 31 August 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN DECREASE IN DEPOSITS DISCOUNT RATES UNALTERED LONDON, Aug. 29 The Bank of England return for tho week ended August 28 is as follows: — IRSUE DEPAHTMEN T Notes issuedGovt, debt £11,015,100 In rircu- Other (lovt. lation £399,504.647 securities 240,605,398 In bank- Other secuiiitl dept. 53,700,127 rities . . 841,522 Silver coin 1,537,980 *£260,000,000 (■old coin <fc bullion 193,351,774 £153,354,774 £153,354,771 •Amount of fiduciary issue, RAN KI NT. I) RPA RTM EXT Capital . . £14,553.000 Govt secuKest. 3,087.103 lilies . . £81,271,999 Deposits— Advances, Public . 9,359,708 £ 12,1)31,587 Hunkers, Oilier secuL'or>,"i,(l93 rities, Other acs.. £ 12.21',(1,519 25,195,130 £30,453,840 133,388,938 Notes . . 53,790,127 Gold and silver coin 728,787 £100,989,019 £100,98!),049 The principal items of tho abovo return compare as follows with those for last week, the proportion of the reserve being shown in tho last lino: — Deposits— Auk. 21 Aur. 23 Public .. .. £15.9(12.035 £9.359,708* Bankers .. 93,897,881 90,935,098* Other Accounts 30,899,953 30,453,840 £110,099,809 £142,748.040 ; Securities— Government .. 83.489,999 81,271.999 Advances, etc. . 12,9.y„832 12,931,587 Other .. .. 15,001,804 12,20.0,549 Keserve . . . . 5.'{,405,95 l 54,518,914 Note circulation 4011,440,31.0 399,51>-1.t>47 Coin and bullion 193,000,311 191,083,501 Proportion . . 30.40 38.10 •The movements of deposits arc duo to tho Government's interest disbursements. SHORT LOANS AND DILLS Tho Bank of England rate of discount ; is 2 per cent, to which it was reduced on .June .'lO, liW2, from 2J per cent. Short loans are quoted at it per cent, same as last week. Tlio market rate of discount for best three months' bills is per cent, same as last week. CONSOLS AND COLONIAL STOCKS The following table gives quotations i for consols and colonial inscribed 1 stocks, compared with those of August j : Price Variation £sd s d Consols, per cent . . fil 0 0 Same Funding Loan, 4, 19G0-90 110 12 0 Sumo War Loan, 31 . . . . 105 10 0 5 01 Conversion Loan, 3J .. 105 0 0 20 o*l Victory Bonds, 4 .. 113 10 0 Same* Com'wealth. 5. 1945-75, . . 110 10 3 1 31 Com'wealth, 31. 1930-37 102 11 3 Same ' Com'wealth. 3} 1950-01.. 101 7 0 2 0* Com'wealth. 4. 1943-48.. 103 5 0 2 0* Com'wealth, 3}, 1948-53.. 98 10 0 10 0* N.S.W., 3, 1935 .. . . 101 1 3 1 31 N.S.W., 3S, 1930-50 . . 100 0 0 10 0* N S.W., 41, 1935-45 . . 101 0 0 2 0* N.S.W., 5, 1935-55 .. 10'J 11 3 1 31 Victorian, 8. 1929-19 . . 98 5 0 7 0* Victorian', 42, 1940-00 . . 100 5 0 25 01 Victorian, 5, 1945-75 ..110 7 6 7 01 Queensland, 3 1922-47 98 2 0 5 0* Queensland, 5. 1910-00 . . 107 7 0 7 0* S Aus .3. 1910. or after 88 10 0 2 Gt Si Australia, 5, 1945-75 . . 110 11 3 6 31 W. Australia, 4. 1912-02.. 102 15 0 5 0* Tasmania, 3j, 1920-40 . . 101 15 0 10 0* Tasmania, 4. 1910-50 . . 102 0 0 20 0* New Zealand, 41, 1918-58 109 0 0 5 0* New Zealand, 3j, 1910 . . 103 10 0 5 0* New Zealand 3. 1915 .. 101 10 0 2 61 New Zealand', 6. 1930-51 103 10 0 50* 1 Higher. * Lower. »Ex interest.

FOREIGN EXCHANGES STERLING A SHADE STRONGER British Wireless RUGBY, Aug. 29 The following rates on foreign exchanges aro current, compared with tho cabled quotations 011 August- 28 and liar: —

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.nsy. 3.9!)V 4 On demand . . 8.99VJ 4.00'4 Buying: On demand .. 4.03/4 4.01/£ Following are the latest rates for purchases and sales of foreign exchange quoted by tho Bank of New South Wales, Auckland. They arc subject to alteration without notice: —

Tlio cost in Now Zealand currency of tlio pound sterling, and of tlio principal overseas units, on tlio latest quotations, is as follows: Present Prico Par Bd b d AuMrnlia, pound .. 19 10.81 '2O 0.00 Ijoiulon. pound .. 2) i0.(!5 20 0.00 Fiji, pound .. •• 22 f>.(i(i 20 0.00 New York, dollar .. 5 0.01 4 3.31 Montreal, dollar 4 11.85 4 1.31 i'liriß, franc .. .. 0 3.08 0 1.98 Berlin, reichniark .. 2 0.1(1 0 11.74 Copenhagen, krone .. 1 1.33 1 1.22 Yokohama, yon .. .. 1 5.G8 2 0.58 CUSTOMS EXCHANGE RATES Hates of exehnngo ruling at tlio announced dates of departure of vessels named aro shown in tlio following table. They aro subject to confirmation by tlio Customs Department when tlio exact timo of departure is learned on arrival of the vessel in New Zealand. Finally declared riites are marked*: Anulo Canadian. America, dollars 4.95'/t Nnrbada. India, rupee .. .. 18% d Melbourne Mn.ru, .Tapan, yen .. 14% ad Canndinn Planter. Canada, dollars 4,9liVi Shenf Holme. America, dollars .. 4.0(> 7/ . Monterey, America, dollnrn . . 4.98 - yi»i WHEAT, FLOUR ANI) PULSE LONDON, Auk. 29 Wheat.. —Cargoes aro easier. Parcels are quiet. Futures.—London: September, 2ls .'VI a quarter; February, 22s lid. Liverpool: October, 5s Gs<l a cental; December, 5s 5(1; March, 5s 4d. Spot trade slow, Australian ex ship, 2Hs 9d. Flour, steady. Australian ex store, 20s to 20s 6d. Oats, firm. Peas and beans, unchanged. Paw sugar, beetroot basis, September delivery, 4s 2Jd a cwfc.

Aug. 29 •Aug. 28 Par .Montreal, dol. . . 4.987 4.9S7 4.806 New York, dol. . 4.07% 4.97%. 4.806 Paris, fr. 75'/ Ift 75'/,, 124.21 Brussels, belga . 20.50 29.49 35.00 Geneva, fr. 15.237, 15.23 25.22 Amsterdam, fl. . 7.:):)% 7 337 12.10 Milan, lire C>0% 007 " 92.4C) Berlin, r.m. 12.357, 12.35V, 20.43 Stockholm, kr. . 10.39V, 10.30V, 18.159 Copenhagen, kr. . 23.39'/, 23.39'/, 18.159 Oslo, kr. 10. DO 1 /, 10.00'/, 18.159 Vienna, sch. 2(5' 2(5',, 31.585 Prague, kr. ]10'4 110 'a 104.25 Helsingfors, mark 22(57. 2207. 1'.'9 23 Madrid, pes. . . 3r.v, 3(5'/. 25.221 Lisbon, escu. .. 110% 1107. 110 Athens, dr. 520* 519* 375.00 Bucharest, lei. . (',28' (527* 813.0 RiodeJftneiro.mil 4'/id* 4' id* 5.899d Buenos Aires, dol. 35d* 35 d* 47.(519d Montevideo, dol. 39'Ad' 39'/,d* 51d Bombay, rupee . 18'/„d 18'«d 18d Shanghai, dol. . 17'7i»d 17%d — Hongkong, dol. . 23'7i*d 23'7md — Yokohama, yen . 147ijd 14%,d 24.5 q d Batavia, fl. 7.317s 7.31% 12 10 Belgrade, din. .. 217 217 270.31 Warsaw, zloty .. 20.28 — 43.38 •Sellers.

T.T. On demand To fl N.Z. Currency Scllinc Buying Selling U.S.A., dol. 3.98% 4.03% 3.09 Canada, dul. .. 4.00 4.05 4.00% Franco, fr. .. 50.71 G1.Hl 59.70 Noumea, fr, .. 58.00 02.30 59.01 Papeete, fr. .. 58.00 02.30 50.01 Belprium. belca . . 23.396 — 23.111 (Sennnny. r.m. .. 9.718 — 9.723 Ilnly, Uro . , .. ■18.01 — 48.08 Switzerland, fr. .. 1 '2.001 12.53G 12.071 Holland, It. .. 5.780 0.080 5.781 Java. ft. .. .. 5.702 G.037 5.700 Sweden, kr. .. 15.159 is. 15.109 Norway, kr. .. 15.807 10.2,'17 15.877 Denmark, kr. 17.878 18,2-18 17.888 Auflria. Rch. '20.59 — 20.01 Czeciio-Slovnkia, cr. 95.71 — 95.79 .N'.Z. pence to 17 57-04 Japan. yen 17"/™ — Shanghai. dol. .. 22''"„ 21 1 "/-., 22% India, rupee .. 22"/,, 22*/,;, 22" 'A, Ceylon, rupee 22"/ 3 a 22%, 22 llonckonj?, do!. .. 3oy n 2 3oy,« Singapore, dol. .. ,1-1 Vza 35%«