THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22320, 18 January 1936, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN INCREASE IN DEPOSITS GOLD HOLDING STEADY LONDON, Jan. 1G The Bank of England return for the week ended January 15 is as follows: —

RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2.J per cent. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of January 9: — Vnria-

FOREIGN EXCHANGES DOLLAR SLIGHTLY STRONGER

NEW ZEALAND QUOTATIONS Tlio Associated Jianks (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: — Seilinv: United States Canada T.T 3.97% 3.97% On demand . . '.IMS'/, 3.'J8% Buying: On demand <1.02% 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:—

The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: —

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 timo of departure is learned on arrival of the vessel in New Zealand. Finally declared rates arc marked*:— Cornwnllits. Canada, dollars 4.98 Cornwallis, America, dollnrs . . 4.9U Canadian Britisher, Canada, dollars 4.99' Canadian Britisher. America, dol. 4.92' Sydney Maru. Hongkong, dollars . . lOViti Sydney Maru, Japan, yen .. .. 14d Northumberland, America, dollars 4.91 Northumberland, Canada, dollars . . 4.98 Nardann, America, dollars .. .. *4.9!1 Nardana, Cannda, dollars .. .. *4.99 Wiesnnd, America, dollars .. .. *4.9:1

SALES OF PROPERTY The sale of two sections each 50ft. by 150 ft. in .Mount Smart Road, Onchunga, for i'2'2o. by public auction yesterday, is reporter] oy T. Minideno Jackson. There was a good attendance of the public and considerable interest was shown in variolic properties offered Bidding was brisk. Richard Arthur, Limited, advises that a section of 1 rood, t perches, in Massev Head. Manurewa, offered under the Rating Act. 1925, was eold by public auction yesterday for £35.

ISSUE DEPARTMENT Motes issued:— Govt, debt £11,000,000 In circuOther Govt. lation £397,700,000 securities 240,500,000 In bankOther secuing dept. 62,400,000 rities . . 1,400,000 Silver coin 1,100,000 *£200,000,000 Gold ' coin & bullion 200.100,000 £400,100,000 £400,100,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,500,000 Govt, secuRest . . 3,500,000 rities . . £83,900.000 Deposits— Advances, Public . . 13.800,000 £20,000,000 Bankers. Other secu£110,100,000 rities. Other ncs., £12,500.000 32,500,000 £37,500,000 147,000,000 Notes 02,400,000 Gold and silver coin 600,000 £170,400,000 £179,400,000 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— Jan. 8 Jan. 15 Publio . . . . £11,300,000 £13,800.000 Bankers . . .. 107,800,000 110,100,000 Other Accounts . JO,800,000 37,500.000 £155,900,000 £161,400,000 Securities,— Government 34,400,000 83,900,000 Advances, etc. . 21,300,000 20,000.000 Other 13.100,000 12,500.000 Reserve >5,300,000 03,000.000 Note circulation . . 405,000,000 397,700,000 Coin and bullion 200,900,000 200.700.000 Proportion . . 35.44 39.09

Price tion £ 6 d 8 d Consols, 2i per cent SO 0 0 10 0* Funding Loan, 4, 1900-90 117 10 0 Same War Loan. 35 100 0 0 Same Conversion Loan, 3J . . 108 0 u Same Victory Bonds. 1 110 10 0 10 Ot Com'wealth. 5, 1915-75 . . 110 8 9 2 0* Com'wealth, 3J, 1930-37 .. 102 7 C 2 G+ Com'wealth, -1, 1913-18 . . 101 13 9 1 3* Com'wealth, 32, 194N-53 . , 103 3 9 1 3* Com'wealth. 3J. 1950-01 . . 99 13 9 1 3f N.S.W., 3», 1930-50 100 11 3 Same N.S.W., 41, 1935-15 101 0 3 2 01 N.S.AV., 5, 1935-55 102 0 3 1 3* Victorian, 3, 1929-19 98 10 0 5 0* Victorian, 42, 1910-00 103 2 0 1 3* Victorian. 5, 1915-75 . . 110 3 9 1 3* Queensland, 3, 1922-17 . . 98 11 3 3 9* Queensland. 5. 1940-00 10S 0 0 7 (it S. Aust., 3. 191(1 or after 89 0 0 7 01 S. Australia, 5. 1915-75 . . 110 0 0 1 3* \V. Australia, 4, 1912-02 . . 102 8 9 ,r> y* Tasmania, 3$, 1920-Kl . . 102 10 0 Same Tasmania. 4. 1910-50 . . 102 10 0 C 3* New Zealand. 4!, .19-18-58 108 15 0 2 (H Now Zealand, 3i. 1910 . . 102 10 0 1 3* New Zealand. 3. 1945 101 10 0 8 9 1 New Zealand. P>, 1936-51 101 12 1 3+ {Higher. 'Lower.

British Wireless RUGBY, Jan. 16 The following rates on foreign exchanges are current, compared,.with the cabled quotations on January 15 and par:— Jan. 1C Jan. 15 Par Montreal, dot. . . 4.9674 4.97 4.866 New York, dol. . 4.90 4,967.. 4.866 Paris, fr. . . 7 | la/ 75 124.21 Brussels, belea 29.30 29.31 35.00 Geneva, fr. 15. '20 15.20 25.22 Amsterdam, (1 7.27% 7.27/i 12.10 Milan, lire 017b 61/i 92.46 Berlin,- r.m. 1-2.29 12.29 20.43 Stockholm, kr. . 19.39/i 19.39'/, 18.159 Copenhagen, kr. . 23.39% 23.397. IS.159 Oslo. kr. . . 19.90% 19.90% 18.159 Vienna, ich. 2GVi 2 6% 31.585 Prague, kr. 1197a 119% 164.25 Helsingfore. mark 2-267. 2267. 193.23 Madrid, pes. 36 11 -04 36 11-64 25.221 Lisbon, escu. . 1107. 1107a iio" Athens, dr. . . 320 520 375.00 Bucharest, lei. 667 * 668* 813.6 Rio de Ja neiro, mil. 4'/«d 4 '/id* 5.899d Buenos Aires, dol. 33d 35 d 47.619d Montevideo, dol. 39/id 397 a d 51 d Bombay, rupee . 18 v ,»d 18% 2 ,l I8d Shanghai, dol. . I47 a d 14%.d — Hongkong, dol. . 15 : '.,d 15"/id — Yokohama, yen . U/'iod 1 t/'ifid 24.58d Batavia, il. . . 7.25% 7.25% 12.10 Belgrade, din. . . 217 217 276.31 Warsaw, zioty . . 26.21 — 43.33 Sellers.

T.T. On Demad To £1 N.Z. Currency Selling Buying Selling U.S.A., dol. 3.97% 4.02', 3.97% Canada, dol. 3.97% 4.02% 3.93/8 Austria, sell. 20.07 20.09 Belgium, belga . . Czecho-Slovakia, cr. 23.235 — 23.250 95.41 — 95.46 Denmark, kr. . . 17.878 18.248 17.888 France, fr. 50.5G 01.10 59.01 Germany, r.m 9.(170 — 9.075 Holland, fl. 5.730 0.030 5.734 Java, H. 5.714 5.989 5.718 Norway, kr. . . 15.808 10.238 15.878 Sweden, kr. 15.-159 15.829 15.409 Switzerland, fr. . . 12.029 12.504 12.039 Noumea, fr. . . 58.81 02.21 58.80 Papeete, fr. 58.81 02.21 58.80 N.Z. pinoe to Hongkong, dol. . . 20 2 '/3j 19 20% India, rupee o .iy 22 'A 22 l Vm Ceylon, rupee 22% 22 Z t 22"/, B Japan, yen 1 V*"%2 17%, 17 45-64 Shanghai, dol. 18 41-64 Singapore, dol. . . 35'y 33 •uy t 35%,

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