THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22226, 28 September 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN DECREASE IN DEPOSITS GOLD HOLDING STEADY LONDON, Sept. 26 The Bank of England return for the week ended September 25 is as follows: ISSUE DEPARTMENT Notes issued:— Uovt. debt £11,015,100 In circu- Other Govt. lution £398,104,188 securities -240,295,705 In bank- Other secuingdopt. 55,408,385 ritiea .. 1.147.5.J1 Silver coin 1,541,304 *£200,000,000 Gold coin & bullion 193,572,573 £453,572,573 £453,572,573 'Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,553,000 Govt, securest . . 3,721,358 ritiea . . £83,104,999 Deposits— ' * Advances, Public . 19,491.302 £12,411,483 Hankers, Other 5ecu£87,241.298 ritiea. Other acs., £12,190,570 24,602,058 £38,950.911 120,197,209 Notes .. 55,408,385 Gold . and silver coin 787,492 £103.902,929 £103,902.929 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. 18 Sept. 25 Public .. .. £17,404,079 £19,491,302 Bankers .. 92,018.504 87,241,298 Other Accounts .. 37,581,219 38,955,911 £147,004,402 £145,G88.571 SecuritiesGovernment . . 83,169,999 83,104,999 Advances, etc. .. 11,852,058 12.411,483 Other .. .. 14,159,050 12,190,570 Reserve .. .. 50,105,05!) 50,195,877 Note circulation . . 398,149,572 398,104,188 Coin and bullion 194,315,231 191,300,005 Proportion .. 38.10 38.50 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 2 P cl * cent, same as last week. The market rate of discount for best three months' bills is 9-16 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 19:— ... Price Variation £*s d b d Consols, 2J per cent . . 83 1 8 11 3t Funding Loan, 4, 1900-90 113 2 6 17 o** War Loan, 3} . . . . 104 0 0 5 Ot Conversion Loan, 35 . 103-10 0 10 0t Victory Bonds. 4 * .. 112 0 0 10 Ot Com'wealth, 5. 1945-75 . . 108 7 6 12 0* Com'wealth, 3}. 1930-37 101 12 R 8 9* Com'wealth, 4, 1913-48 . . 101 U 3 3 91 Com'wealth, 3}, 1918-53 100 17 6 2 fit Com'wealth, 3i, 1956-61 90 10 0 22 0* N.8.W., 31, 1930-50 ..98 10 0 17 0* N.S.W., 4}. 1935-45 . . 101 2 fi 3 9* N.S.W., 5. 1935-55 . . 100 5 0 2 6* Victorian, 3. .1929-49 . . 90 0 0 20 0* Victorian. 4J. 1910-00 . . 103 10 0 20 0 Victorian. 5. 1945-75 .. 108 0 0 12 0* Queensland. 8, 1922-47 . , 90 7 6 12 0 Queensland, 5. 1940-00 . 104 7 6 2 0 S. Aunt.. 3, 1916 or after 87 0 0 7 6 R. Australia. 5, 1945-75 107 15 0 , 25 0* W. Australia, 4. 1942-02 102 0 0 Same Tasmania, 3}, 1920-40 . . 101 0 0 10 0* Tasmania. 4. 1910-50 . . 101 16 0 2 6* New Zealand, 4j, 1948-58 106 7 6 22 0* New Zealnml. 3}. 1910 . . 102 10 0 7 fi* New Zealand. 3. 1915 . . 98 15 0 20 0* New Zealand. 0, 1936-51 103 0 0 7 6* tHisher. 'Lower. 5Ex interest.

FOREIGN EXCHANGES

STERLINC SLIGHTLY WEAKER British Wireless RUGBY, Sept. 2G The following rates on foreign exchanges are current, compared with the cabled quotations on September 25 and par:—

*Bellera. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted tho following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without notice; — Selling: United States Cannda T.T 3.93'/, 8.98% On demand .. 3.94% 3.99% Buying: On demand .. 8.98y a 4.03% Following are the latest rates for purchases and sales of foreign exchange quoted by tho Bank of New South Wales, Auckland. They are subject tn alteration without notice: —

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 vessel in New Zealand Firmlly declared rates are marked*: : AuMrnlind. America,, dollar* .. 4.97'. , a. Sydney Mnru. Japan, yen . ~ ]4V„.H Cnnndiun Conqueror, Canada, dol. Golden Cloud, Amcricn. Hollars .. 4.95 Cape Yolk. America, dollars .. 4.9r> Ninßurn, Canada, dollar* . . .. 4.90/j City of Tokio. America, dollars , . 1.9.1 ~ WHEAT, FLOUR AND PULSE LONDON, ,Sept. 20 Wheat. —Cargoes are steady nt lower prices. Parcels are quiet and oasior. Futures. —London: September, 28s a quarter. Liverpool, October, (3s 6Jd a cental; December, Gs ]Jd; March, 5s TOJd. Spot trade quiet. Australian, ex ship. 3Hs. Flour firm. Australian, ex store, 22s (id to 22s 9d. Oats occasionally easier. Peas and beans quiet. Paw sugar, beetroot basis, October delivery, 4s 6gd a cwt.

Montreal, dol. .. 4.98'/ 4.97%4.806 New York, dol. , 4.92%, 4.93% 4.806 Paris, Jr.'. 74 «/,„ 74% 124.21 Brussels, belga . 29.11 29.14 35.00 Geneva, fr. 15.13V, 15.16% 25.22 Amsterdam, fl. . 7.27 % 7.29% 12.10 Milan, lire 80% no 11 /,, 92.40 Berlin, r.m. 12.22 12.23% 20.43 ' Stockholm, kr. . 10.39'/, in.39Vj 18.159 Copenhagen, kr. 23.39'/, 23.39V, 18.159 Oslo, kr. 19.90% 19.90% 18.159 Vienna, sell. 20 20 34.585 Prague, kr. 118% 119/a 104,25 Helsingfors. mark 220% 226% 129.23 Madrid, pes. 30 36% 25.221 Lisbon, escu. . . 110% 110% 110 Athens, dr. 515* 616* 375.00 Bucharest, lei. . 022* 623* 813.6 Kio de Janeiro, mil. 4%cl* 4%d* 5.899d Buenos Aires, dol. 35d' 35d* 47.619d Montevideo, dol. 39 , V 1R d* 39%, d* 51 d Bombay, rupee . lBVid IS'/.d 18d Shanghai, dol. . 187,(1 18%d — Hongkong, dol. . 24%d 24%d — Yokohama, yen . 14%,d 14%„d 7.32% 24.58d Batavia, fl. 7.27'/, 12.10 Belgrade, din. .. 21G 216 276.31 Warsaw, zloty . . 26.18 - 43.38

T.T. On Uemanrt To £1 N.Z. Currency Sollinw Buying Selling U.S.A., dol. 3.93'/;, 3.98% 3.98% 3.94 Canada, dol 4.03% 3.99% France, fr. 69.20 00.80 59.31 Nonim-a, fr. 68.51 61.91 58.50 Papeete, fr. .. 58! 51 61.91 58.56 belsa .. •23.(178 — 23.093 Germany, r.m. .. 9.014 — 9.019 Italy, lire . . .. 47.70 — . 47.80 Switzerland, fr. 11.981 12.450 • 11.991 Holland, fl. .. 5.720 6.020 5.730 Java. fl. . . •. 5.738 6.013 5.742 Sweden, kr. 15.458 15.828 15.468 Norway, kr. 15.808 10.233 15.878 Denmark, kr. 17.878 18.218 17.888 Austria, acli. 20.42 — 20.41 Czecho-Slovakia, cr. 95.25 — 95.30 N.Z. pence to 17'/ 4 23/4 22*%, 22% 30% 17 47-04 23%, Japan, yen . Shanghai;. dol. .. 21*%, India, rupee Ceylon, rupee Hongkong dol. , 22 7 /,., 22%, 22% S'k Singapore, dol, , . 35%, 34% 3 35%j The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: —■ it Price Par Prese B d 8 d Australia, pound ' 19 10.81 20 0.00 London, pound .. 24 10.65 20 0.00 Fiji, pound .. 22 5.00 20 0.00 New York, dollar .. 5 0.05 4 1.31 Montreal, dollar . . 4 11.91 4 1.31 Paris, franc 0 3.99 0 1.98 Berlin, reichmark .. 2 0.43 0 11.74 Copenhagen. krone 1 1.33 1 1.22 Yokohama, yen . 1 5.52 2 0.58