THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22214, 14 September 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN MOVEMENTS OF DEPOSITS DISCOUNT RATES UNCHANGED LONDON, Sept. 12 Tlio Bank of England .return for the week ended September 11 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt, debt £11,015,100 In circu- Other Govt, hit ion £400,256,282 securities 240,587,805 In hank- Othersecumg dept. 63,146,043 rities . • 857,210 Silver coin 1,539,795

*£200,000,000 Gold coin & bullion 193,402,325 £453.402,325 ' £453,402,325 •Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,553.000 Govt, secuKest .. 3,704,171 rities .. £84,549,990 Deposits— Advances. Public .. 10,035,710 £12,418,834 Bankers, Other secul!)l ,030,114 rities. Other acs., ''12.232,114 24,050,948 137,812.700 128,878,880 Notes . . 53,140.043 Gold and Uilver coin 821,771 £103,171,701 I £163,171,701 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— Sept. 4 Sept. 11 Public .. .. £5,800,025 £10,035,710' Bankers .. 100,002,001 91,035,114* Other Accounts 38,040,382 37,842,700 £144,509.008 £144.914,590 Securities— Government 83,414,990 81,549,909 Advances, etc. . 14.080,503 12,418,834 Other . . 12,840,998 12,232,114 Reserve .. 52.492,011 53,970,814 Note circulation 101,022,107 400,250.282 Coin and bullion 194,115,078 194,227.090 Proportion 36.30 37.20 "J'he movements of deposits are due to excess Treasury bill payments and revenue collections. SHORT LOANS AND BILLS

The Bank of Kngland rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 21 per cent. Short loans are quoted at :J per cent, same as last week. The market rate of discount for best three months' bills is 10-32 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 September 5: Price Variation £ad s d Consols 21 per cent . . 83 5 0 15 0" Funding Loan, 4, 1000-00 115 10 0 20 0* War Loan. 3j ..104 15 0 15 0* Conversion Loan, 3J . . 104 12 6 7 6* Victory Bonds, 4 -. 112 11 3 18 9' Com'wcalth, 5, 1945-75 . 110 8 9 3 9" Com'wcaltli, 34. 1930-37 .. 102 10 0 2 6' Com'wcalth, 4, 1943-48 . . 104 0 0 2 6* Com'wcalth. 3J, 1018-53 . . 102 8 9 5 0* Com'wvalth, 31. 1950-01 . 98 7 6 1 31 N.S.W., 3. 1935 . . 100 0 0 Same. N.S.W.. 3!, 1930-50 . . 09 17 6 2 6+ N.S.W., 4J, 1935-45 . . 101 0 3 3 9+ N.S.W., 5, 1935-55 . • 100 5 0 17 fi* Victorian. 3. 1920-49 . . 98 10 0 7 6< Victorian, 42, 1910-60 '. . 104 18 9 1 3' Victorian, 5, 1945-75 .. 110 0 0 Same. Queensland, 3, 1922-47 08 5 0 10 Ot Queensland. 5. 1910-60 . . 105 7 fi 20» S. Aus., 3, 1910 or after 88 0 0 20 0* S. Australia, 5, 1945-75 .. 110 0 0 5 0* W Australia. 4. 1942-62 . . 103 0 0 Same. Tasmania, 31. 1920-10 ..102 0 0 Same Tasmania, 4, 1940-50 . . 102 7 6 10 0 New Zealand, 1!, 1918-58 . . 108 7 6 12 fi* New Zealand. 3t. 1910 .. 103 11 3 3 9+ New Zealand, 3, 1945 . . 100 1 3 1 New Zealand, fi, 1930-51 . . 103 13 9 8 9* t Higher 'Lower.

FOREIGN EXCHANGES FRANC AND DOLLAR FIRMER British Wireless RUGBY, Sept. 12 I The following rates on foreign ex- | changes are current, compared with the cabled quotations on September 11 and par: Sept. 12 Sept. 11 Par Montreal, dol. . . 4.95% 4.95% 4.800 New York, dol . 4.93 l %» 4.94% s 4.866 Paris, fr. . . 74"/,. 75 124.21 Brussels, belga . 29.25% 29.27 35.00 Geneva, fr, . . 15.18 15.17% 25.22 Amsterdam, fl. . 7.31 7.31 12.10 Milan, lire . . 60'% a 60%,, 92.46 Berlin, r.m. .. 12.27 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. .. 26% 2G% 34.585 i'rngue, kr. .. 119% 9 119% 164.25 lie 1 sintrfors, mark 226% 226% 129.23 Madrid, pes. .. 36 11/64 36%, 25.221 Lisbon, escu. .. 110% 110% 110 Alliens, dr. . . 517* 517* 375.00 Bucharest, lei. . 625* 625* 813.6 UiodeJaneiro.mil. 4%d* 4%d* 5.899 d Buenos Aires, dol. 3od* 35d* 47.619 d Montevideo, dol. 39% d* 39% d* old Bombay, rupee . 18% d 18% d 18d Shanghai, dol. 18'/ l6 d 18V'ir>d Hongkong, dol. . 24% nd 24% ad Yokohama, yen . MVnd 14% d 24.58 d Batavia, 11. . . 7.29% 7.30% 12.10 Belgrade, din. . . 217 217 276.31 Warsaw, zloty .. 26.21 •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 3.95% 3.97% On demand . . 3.96% 8.97% Buying: On demand . . 4.00% 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 7i. Currency Selling Buying Selling U.S.A.. dol. .. 3.95% 4.00% 3.90 Canada, dol. .. 3.97% 4.02% 3.97% France, fr. .. 59.50 61.16 59.01 Noumea, fr. .. 58.81 02.21 58.80 Papeete, fr. .. 58.81 02.21 58.80 Belgium, .. 2li. 195 Germany, r.m. .. 9.054 Italy, lire . . .. 47.94 Switzerland, fr. .. 12.019 12.494 12.029 Holland, fl. .. 5.700 0.000 5.704 Java, fl 5.740 0.021 5.750 Sweden, kr. .. 15.469 15.829 15.409 Norway, kr. . . 15.807 10.237 15.877 Denmark, kr. .. 17.878 18.248 17.888 Austria, fli'li. _ .. 20.52 Czecho slovakia, cr. 95.41 N'.Z. pence to Japan, yen . . 17 13/ ,„ Shanghai, dol. .. 2321 A3 23/n, Ihdia, rupee .. 22"4 22%, 22'/,, Ceylon, rupee . . 22 s % s 22/,, Hongkong, dol. .. 30"A,, 29/ i„ 30 Singapore, dol. . . 35% a 34/19 35 /,? The cost in New Zealand currency of the pound sterling, and of the principal overseas units, 011 tho latest quotations, is as follows: — Preaent Prict I'ar 8 d ad Australia, pound .. 19 10.81 20 0.00 London, pound <. 24 10.05 20 0.00 Fiji, pound . .. 22 5.00 20 0.00 New York, dollar .. 5 0.45 4 1.31 Montreal, dollar 5 0.29 4 1.31 Paris, frnnc ..0 3.98 0 1.98 Berlin, rcichniark .. 2 0.33 0 11.74 Copenhagen, kione .. 1 1.33 1 1.22 Yokohama, yen . . . . 1 5.57 2 0.58 CUSTOMS EXCHANGE RATES Hates of exchange ruling at the announced dates of departure of vessel* 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 nrrivn! of the vessel in New Zealand l-'innllv declared rates are marked* Melbourne Marti. Hongkong, dollar *25% d Melbourne Main, Japan, yen .. A list ralind America, dollars 4.97-/,, Sydney Marti, Japan, yen .. . . 14 A« Canadian Conqueror. Canada, dol. 4. J.) 4 Golden Cloud. America, dollnra .. 4.95 A. Cnpe York Amcricn dollars . Niagara, Canada, dollars . . .. 4.95/ a

MELBOURNE PRODUCE r MELBOURNE. Sept. 13 Following are to-day's quotations on the Melbourne produce market: — Wheat, .'ss 6Jd. Flour, £ll 10s. Bran, £5 10s. Pollard, £5 los. Oats, 2s Id. Barley, English, 2s lOd to 3s. Maize, 4s 6d. Potatoes, £9 to £9 10s. Onions, £a to £9 10s.