THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22250, 26 October 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN INCREASE IN DEPOSITS LARGER GOLD HOLDING LONDON, Oct. 24 Ihe Bank of England return for the week ended October 23 is as follows: ISSUE DEPARTMENT Notes issued;— Govt, debt £11,015,100 In circu- Other Govt. lation £397,014,342 securities 240,324,437 In bank- Other secuinc dept. 57,303,559 rities . . 1,120,097 Silver coin 1,540,300 •£260.000.000 Gold coin & bullion 194.323,901 £454,323,901 £451,323,901 'Amount of fiduciary ispue. BANKING DEPARTMENT Capital . . £14,553,000 Govt, eecuRest . . 3,138,108 rities . . £30,774,999 Deposits— Advances, j Public .. 35,324,700 i 11.385,751 Bankers, Other secui i 5,705,751 rities, Other ucs., £12.479,002 23,804,753 i'37,1t04,428 115,790,179 Notes . . 57,309,559 Gold and sliver com 850,730 £108,806,047 £103,300,047 The principal items of the above reI turn compare as follows with those for | last week, the proportion of the reserve ! l»eing shown in the last line: — ; Deposits— Oct. 16 Oct. 23 Public .. .. £32.120.070 £35.324,700 j Bankers .. .. 78,800,888 78,705,iil ! Other Accounts . 37,700,814 37,084,428 £148,051,772 £151,114,873 ! Securities—i Government .. 80,154.999 I Advances, etc. . 13.059.900 11,38:),. 51 Other .. 11,048,809 12,479,002 Reserve • ■ • • 54,885,739 58,100,29;) Note circulation . . 399,018.105 397,014.342 Coin and bullion 194,503,844 190,180,037 | Proportion . ■ 30.90 38.40 | SHORT LOANS AND BILLS i The Bank of England rate oi discount , is 2 per cent, to which it was reduced ! on June 30, 1932, from 2i per cent. Short loaus are quoted at 4 per cent, Millie as last week, ihe market rate of j discount lor best three months bills is I per cent, as compared with 19-u~ : per cent last week.

CONSOLS AND COLONIAL STOCKS MUCH FIRMER TONE The following table gives quotations for consols and colonial inscribed stocks, compared with those of October 1 7 : Price Variation £bd s d Consols. 2i per cent . . 64 10 0 45 Ot Funding Loan, 4, 1900-90 115 0 0 GT War Loan, 3i . . . . 105 10 0 30 Ot Conversion Loan, 3i • • 305 0 0 no OT Victory Bonds. 4 • 113 10 0 45 Ot Com'wealth, 5. 1915-75 109 15 0 1 < Ct Coin'vvealth, 3J. 1930-37 100 10 0 Same Com'wealth, 4, 1943-48 102 10 0 10 Ot Com'wealth, 32, 1948-53, 101 15 0 3 9 Com'wealth, Si, 195G-61 90 10 0 10 0T N S.W., 3«, 1930-50 .. 99 15 0 10 Ot N.S.W., 4J, 1935-45 .. 101 12 6 2 Ct N.S.W.. 5, 1935-55 • 100 13 9 3 9. Victorian, 3. 1929-49 . . 90 17 6 - fit Victorian, 4 5 ., 3940-00 . . 105 0 0 13 9t Victorian, 5, 19-15-75 . . 309 0 0 10 Ot Queensland. 3, 1922-47 . . 96 17 G 10 Ot Queensland, 5. 1940-00 . . 105 5 0 16 3t S. Aur.. 3. 1916 or after 60 10 0 10 0* S Australia, 5, 1945-75 109 0 0 20 Ot W. Australia, 4. 1942-62 102 5 0 7 C+ Tasmania, 31. 1920-40 . . 102 5 0 12 Gt Tasmania, 4, 1940-50 . . 102 7 6 Same. New Zealand. 4i, 1915-58 107 15 0 22 fit New Zealand. 3», 1940 .. 102 17 6 2 fit Xew Zealand. 3. 1945 . . 100 2 6 15 Ot New Zealand, fi. 1930-51 103 12 6 Same. tHigher. 'Lower. FOREIGN EXCHANGES MINOR FLUCTUATIONS British "Wireless RUGBY, Oct. 24 The following rates on foreign exchnnces are current, compared with the cabled quotations on October 23 and par: Oct. 24 Oct. 23 Par Montreal, dol. . 4.08% 4.9?% 4.SOG New York, del. . 4.92 4.92 4.800 Paris, fr. 74'', 74 „ 124.21 Brussels, belpa . 29.21 29.22", 35.00 Geneva, fr. . . 15.11 V, 15.13% 25.22 Amsterdam, fl. . 7.24 V, 7.24% 32.10 Milan, lire . . 00% 60% 92.40 Berlin, r.m. .. 12.22 V, 32.23 20.43 Stockholm, kr. . 19.39", 19.39 V, 16.159 Copenhagen, kr. . 23.39' ', 23.39 V, 15.159 Oslo, kr. . . 19.90% 19.90'/, 15.J59 Vienna, sch. . . 26% 20 34.555 Prague, kr. . . 115% 118% 104.25 Helsingfors, mark 220% 220% 129.23 Madrid, pes. . , 30 30%, 25.221 Lisbon, escu. . . 110% 110% 110 Athens, dr. . . 510* 515 * 375.00 Bucharest, lei. . 025* 025* 513.0 RiodeJaneiro.mil. 4%d* 4%d* 5.599 d Buenos Aires, dol. 35d* 35d* 47.019 d Montevideo, dol. 39% d* <59%d" 51d Bombay, rupee . 18',18%d ISd Shanghai. dol. . 10 3 /, f d 10 1! / l6 d Hongkong, dol. . 23% d 23'%«d Yokohama, yen . 14 3-04 dl 4 3-04 d 24.55 d Botavia, fl, . . 7.22% 7.24% 12.10 Belgrade, din. .. 210 215 270.31 Warsaw, zloty 20.12 •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 3.94% 3.99% On demand . . 3.94% 4.00/ i Buying: On demand .. 3.99 4.04% 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 i'l N.Z. Currency Selling Buying Selling U.S.A.. dol. . . 3.93% 3.99% 3.91% Canada, dol. .. 3.99% 4..04% 4.00% France, fr. .. 59.29 60.69 59.31 Noumea, fr. . . 56.54 01.94 55.59 Papeete, fr. .. 58.54 01.94 58.59 Belgium, belga .. 23.107 Germany, r.m. . . 9.022 Italy, lire .. 47.53 Switzerland, fr. .. 31.978 12.453 11 9-i8 Holland, fl. . . 5.703 0.003 5.707 Java. fl. . .. 5.090 5.9'0 5.094 Sweden, kr. .. 15.459 15.529 15 409 No'.wsy, kr. .. 15.670 30.240 Denmark, kr. .. 17.878 18.248 17.888 Austria, sch. . 20.47 Czecho-Slovakia. cr. 95.01 ila.Oti N.Z. pence to Japan. ytn .. 17'%« Shanghai, dol. . . 20% 19%, 20",% India, rupee .. 22 J %, 22%, 22*%, Ceylon, rupee .. 22=%, 22%, 22'%, Hongkong. dol. . . 29%, 27 1 %, 23*35 .Singapore, dol. . . 35"/ s , 84% 35%, 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 l J ar sd 6 d Australia, pound .. 19 10.51 20 O.Ofl London, pound . . 24 10.05 20 O.OJI Fiji, pound . . .. 22 5.00 20 000 New York dol'ar .. 5 0.07 4 1.31 Montreal, dollar .. 4 11.85 4 1.31 Paris, franc .. .. 0 4.00 0 1.98 Berlin, reichmark .. 2 0.42 0 11.74 Copenhagen, kione 1 3.33 1 1.22 Yokohama, yen . . 1 5.47 ? 0.58 CUSTOMS EXCHANGE RATES Rates 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, Finally declared rates are marked*:— Brisbane Maru, Japan, yen .. 14'/,»d Mnnowai, Canada., dollars .. . . 4.97 Canadian Victor. Canada, dollars 4.97% City of Bagdad. America, dollars 4.90%, Lurline, America, dollars .. .. 4.91 Golden State. America, dollars .. 4 91V,. Wairuna. America, dollars .. 4.91 V,, PRESTIGE DIVIDEND [BY TELEGRAPH—PRESS ASSOCIATION] •WELLINGTON, Friday Prestige (N.Z.), Limited, is paying a dividend at the rate of 6 per cent per annum on preference shares for the six months ending September 00. The dividend will be paid on November 1.