THE MONEY MARKET

New Zealand Herald, Volume LXXII, Issue 22262, 9 November 1935, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN

LARGER NOTE CIRCULATION INCREASED GOLD HOLDING LONDON. Nov. 7 The Bank of England return for the week ended November 6 is as follows: ISSUE DEPARTMENT Notes ißsued Govt, debt £11(015,100 In circu- Other Gov't. lation £402,157,517 securities 245,947,114 In bank- Other aecuing dept. 53.326.-011 rities .. 1,498,800 Silver coin 1,538,890 *.£200,000,000 Gold coin * & bullion 195,482,528 £455,482,528 ' £455,482,528 'Amount of fiduciary isuue. BANKING DEPARTMENT Capital . . £14,553,000 Govt, secu-' Keat .. 3,181,998 rities £87,214,999 Deposits— Advances, Public . . 21,008,522 £10,986,320 Bankers, Other 5ecu£89,559,105 rities, ' Other acs., £12,492.521 23,478,841 £30,040,904 126,200,009 Notes .. 53,325,011 Gold and ' silver coin 924,078 £104,943,529 * £164,943,529 •' •• *.:* 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 lino: — • Deposits— , Oct. 30 Nov. 6 Public . . £20,225,911 £21,008,522 Bankers . . 82,524,413 89,559.105 Other Accounts . 38,552,152 86,040,904 £147,302,470 £147,208,531 Securities— Government . . 85,889,999 87,214,990 Advances, etc. . . 11,210,370 10,980,320 Other ... .. 12,270,367 '■ 12,492,621 Reserve . . . . 55,633.091 . . 54,249,089 Noto circulation .. 399,888,875' ' 402.157,517 Coin and bullion 194.77i.9GG 196.407,206 Proportion .. 37.70 3G.80 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 2| per cent. Short loans are quoted at f per cent, same as last week. The market rate of discount • for best three months' bills is 9-16 per cent, as compared with 19-32 per cent last weeki

CONSOLS AND COLONIAL STOCKS , LONDON MARKET FIRM The following table gives quotations for consols and colonial inscribed stocks, compared with those of October 31r:—

,*' '■ * FOREIGN EXCHANGES * FLUCTUATIONS IN LONDON British Wireless RUGBY, Nov. 7 The following rates on foreign exchanges are current, compared with tho cabled quotations on November 6 and par: , Noy. 7 Nov., G Par Montreal, dol. . . 4.97V0 4.97Ve 4.8G6 New York, dol. . 4.91% 4.92'/ 4 4.BGG Paris, fr. . . 74% 74 u /„ 124.21 Brussels, belga .29.11 29.13 35.00 Geneva, fr. . . .15.12% 15.13 25.22 Amsterdam, fl. . 7.24% 7.24% 12.10 Milan, lire .. 60% 60% ' 92.46 Berlin, r.m. .. 12.28 12.23% 20.43 Stockholm, kr. . 19.39% 19.39% 18.169 Copenhagen, kr. . 23.39% 23.39% 18.159 Oslo, kr. .. 19.90% 19.90% 18.159 f Vienna, sch. .. 26% 2G% 34.585 Prague, kr. .. 118'Y™ 118 1G4.25 Helsingfors, mark 227 227 129.23 Madrid, pes. . . 36 36%» 25.221 Lisbon, escu. . . 110% 110% 110 Athens, dr. . . 51G* 51G* 375.00 Bucharest, lei. . 025* 025* 813.G KiodeJaneiro.mil. 4Vid* 4%d* 5.899 d Buenos Aires, dol. 35d 85d* 47.G19d Montevideo, dol, 39% d* 39% d* 61d Bombay, rupee . 18'/id 18% d 18d Hongkong, dol. . 17"/ 3 , d 18% ad - Yokohama, yen . 14%jd 14%jd 24.58 d Batavia. 2. . 7.20% 7.21% 12.10 Belgrade) din. .. 215 215 276.31 Warsaw, doty . / 26.18 •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 notjcei-^. Selling: '* Unitedßtates • Canadr- . T.T. ,i. .. 3.94% 3.98% On demand .. 3.95 < v 8.99 *. • Buying: _«••>' •• ■ "»•.. »• On .'..' 8.99% • ■',.1.4.08% Following are the latest rates (of chases and sales of foreigfl-.-exohange quoted by the Bank of South' Wales,, Auckland. They are nubject to alteration" without .notice:— . ' ' T.T, ' Oii Draiand' To ll N.Zi Currency Bellifi« Buying, 6Tellinjr U.S.A.. doU ''' . 3.94% 3.99%, 8.94% Canada, dol. , ;. 3.98% 4.03% 3.98% Austria, sell. . . 20,67 Belgium, belga , . 23.078 Cjiecho-Slovakia, cr. 9.%09 Denmark, .kr. . 17.87* 18.248 17.888 France, fr. .. 59.33 60.93 59.38 Germany, r.m. .. 0,618 Holland, 0. •.. 5.703 6.003 5.70? Italy, lire . .; 48.04 ■ 43.08 Java, fl. .. ~ 5.673 5.948 5.677 Norway, kr. . . 15.871 16.241 15.881 Sweden, kr. . . 15.459 15.829 15.469 Switzerland, fr. . 11.977 12.452 11.987 Noumea, ft. • • 58.58 G1.98 58.G3 Papeet-e, fr, . . 68.58 G1.98 , 58.63 N.Z. pence to Hongkong, dol. .. 22% e 21% _ India. r>ipee Ceylon, rupee 22'% a 22/j, -, VP'** Japan, yen 17''4n -r-_ l 17 43-64 Shangiiai, dol. . 18*%«.;' 17/ i 18/J Singapore, dol. H5'% 9 84/, 35/4 a Tho cost in New Zealand currency of tho pound sterling, and.'of tho principal overseas units, on the latest quotrttiohs, is .as follows: —• • " ''7 ' , Present Price l'ar\ od s d Australia, pound . .. 19 10.81 20 O.Ofl I.oiidon, pound .. 21 10.05 20 0.00 Fiji, pound .. ' <>" .. 22 S.GG 20 0.00 New York, dollar .. 5 0.70 4 1.31 Montreal, dollar .. 6 0.04 4 -I.JI Paris, franc .. .. 0 4.00 0 1,98 Berlin, reichmnrk ..' 2 0.41 0 Copenhagen, krone ..." 1 1.33 1 1.22 Yokohama, yen . ■ ) 1 6.45 9 0.68 CUSTOMS EXCHANGE The Customs Department has declared tho following rates of exchange in respect of cargoes by the vessels named:— Brisbant Maru, Japan, yen Briebnne Maru, Hongkong, dollar . QAM Canadian Victor. Canada, dollftrn . 7 Canadian Victor, America, dollars 4.91 Golden ' State, America, dollar# .. 4.92 Waimna. America, dollars ~ . 4.92 . r Wairuna, Canada, dollars .. . 4.96 * City of Bagdad, America, dollar® 4.90 City of Bagdad, Canada, dollars . 4.98 UNION OIL COMPANY ( Tho annual meeting of the Union Oil, Soap and Candle Company, Limited,*" was held yesterday, the chairman of directors, Mr K. W. Evans, presiding. The report and balance-sheet, published in tho Hkrald on November 2, ,were adopted, and the retiring director. Mr. B. Ji. Hewitt, was re-elected. \

Prico Variation £ B d s d Consols ,2J per cent 85 0 0 30 Ot Funding Loan. 4. 1960-90 116 7 6 27 Gt War Loan, >3} \ . 104 15 0 15 Ot Conversion Loan, 3J 106 10 0 30 Ot Victory Bonds, 4 114 17 6 27 6t Com'wealth, 5, 1945-75 . . 111 2 6 7 6+ Com'wealth, 81, 1930-37 100 17 6 Same. Com'wealth. 4. 1943-48 103 17 6 16 3t Com'wealth, 32, 1948-53 103 16 3 32 6t Com'wealth, 3}, 193G-01 97 5 0 6 84! N.8.W., 8J. 1930-50 101 1 3 13 9t N.S.W...4J, 1935-45 102 1 3 7 tit N.8.W.. 5, 1935-55 101 0 0 5 0+ Victorian, 8, 1929-49 . 97 108 12 0t Victorinn, 4J, 1940-60 .. 106 ,0 0 10 ot Victorian 6,' 1945-75 , . 110 17 6 10 Ot Queensland, 3, 1922-41 .. 98 0 0 12 6t Queensland, 6, 1940-60 ?. 106 0 0 11 8t 8. Aus., 3, 1916 or nfter 87 15 0 17 6t S. Australia. 5, 1945-75 .. 111 0 0 13 9t W. Australia, 4. 1942-62 103 0 0 6 Ot Tasmania,. 8|, 1920-40 .. 102 15 0 12 6t Tasmania, 4, 1940-50 103 6 0 2 fit New Zealand, 4}, 1948-58 109 1 3 10 Ot New Zealand, 3j. 1940 . . 103 10 0 8 9t New Zealand, 3, 1945 . . 101 2 6 7 et New Zealand. 6. 1036-51 103 17 6 5 ot t Higher. 'Lower. :EX interest. 1