THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22344, 15 February 1936, Page 9

THE MONEY MARKET

RANK OF ENGLAND RETURN STEADY GOLD HOLDING DEPOSITS SAME AS LAST WEEK LONDON, Feb. 13 The Bank of England return for the week ended February 12 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt, debt £11,000,000 In circu- Other Govt. lation £399,300,000 securities 245,000,000 In bank- Other secuing dept. 61,200,000 rities . . 3,000,000 Silver coin 1,000,000 *£260,000,000 Gold coin & bullion 200.500,000 £460,500,000 £460,500,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,500,000 Govt, seeuRest . . 3,000,000 rities . . £79,200,000 Deposits— Advances, Public . . 11,000,000 £13,400,000 BunkerH, Other secu£lo3,ooo,ooo rities. Other acs„ £11.500,000 27,900,000 £36,300,000 139,900,000 Notes .. 01,200,000 Gold nnd silver coin 700,000 £109,000,000 £169,000,000 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— Feb. 5 Feb. 12 Public . . . . £11,000,000 £11,000,000 Bankers . . . 102,900,000 103,600,000 Other Accounts . £150,900,000 £150,900,000 Securities— Government . . 79,40(1,000 79,200,000 Advances, etc. . . 14,400,000 13,400,000 Other .. .. 13,900,000 34,500,000 Reserve .. .. 61,300,000 61,900,000 Note circulation . . 399,800,000 399,300,000 Coin and bullion 201,100,000 201,200,000 Proportion . . 40.66 41.04 RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2J per cent. CONSOLS AND COLONIAL STOCKS Tho following table gives quotations for consols and colonial inscribed stocks, compared with those of February 6: — Price Variation £sd s d Consols, 21 per cent . . 85 10 0 Same Funding Loan, 4, 1960-90 118 10 0 Same War Loan, 31 . . . . 106 10 0 Same Conversion Loan, 3i . . 108 0 0 Same Victory Bonds,, 4 .. .. 117 0 0 +5 0 Com'wealth, 5, 1915-75 .. 11l 2 6 +7 6 Com'wealth, 31, 1936-37.. 103 2 6 +6 3 Com'wealth, 4, 1943-48 .. 105 2 6 +8 9 Com'wealth, 35, 1918-53. . 103 16 3 +5 0 Com'wealth, 31, 1956-61. . 99 17 6 +'. 6 N.S.W., 3}. 1930-50 . . 101 1 3 -3 9 N.S.W., 41, 1935-45 . . 101 13 9 +2 6 N.S.W., 5, 1935-55 . . 102 8 9 Slime Victorian, 3. 1929-19 .. 98 3 9 -11 3 Victorian. 4], 1910-60 .. 105 16 3 +2o 0 Victorian, 5, 1945-75 .. 110 15 0 +o 0 Queensland, 3, 1922-47 '.. 98 1 3 —l3 9 Queensland, 5. 1940-60 . . 108 12 6 +5 0 S. Aus., 3. 1916 or after 89 13 9 +3 9 S Australia, 5, 1945-75 111 0 0 +lO 0 W. Australia. 4. 1912-62 .. 102 17 6 +1 3 Tasmania. 31, 192040 ..103 1 3 +l6 3 Tasmania, 4, 1910-50 . . 103 0 0 +5 0 New Zealand, 4}. 1945-58 108 16 3 +l6 3 New Zealand, 35, 1940 . • 103 - 6 +l3 . N<Av Zealand. 3. 1915 -.102 6 3 +3 9 New Zealand, G, 1936-51 . . 102 2 G +2 6 FOREIGN EXCHANGES DOLLAR RATHER STRONGER British "Wireless RUGBY, Feb. 13 The following rates on foreign exchanges aro current, compared with the cabled quotations on February 12 and Par ' Feb. 13 Feb. 12 Par' Montreal, dol. .. 4.97% 4.98% 4.860 New York, dol. .. 4.98'%, 4.9%, 4.866 Paris, fr. . . 74% 74 v,» Brussels, belga .. 29.37% 29.37 So.OO Geneva, fr. . .• 15.15 15.14 2a.-2 Amsterdam, fl. . . 7.28/4 7-S/a 1--10 Milan, lire .. 62%, 62% 92.46 Berlin, r.m. .. 12.29 12.29% 20.43 Stockholm, kr. 19.39% 19.39 / a 18.159 Copenhagen, kr. . 23.3914 23.39% 18.159 Oslo, kr 19.90% 19.90% 18.1d9 Vienna, sell. . . 26% 26% 34.585 Prague, kr. .. 119% 119% Hclsingfors, mark 227 227 193.-3 Madrid, pes. . ■ 36 11-64 30% 25.-'-1 Lisbon, cbcu. . . 110% 110% 110 Athens, dr. . . 517* 518* 3/a.OO Bucharest; lei. . . 668 * 668 813.6 Rio de Janeiro, mil. 4'Ad 4 l Ad 5.899 d Buenos Aires, dol. 35d 35d 4i.619d Montevideo, dol. . 39% d* 39% d* 51d Bombay, rupee .. 18% d 18% d 18d Shanghai, dol. .. 14% d 14% d Hongkong, dol. . . 15% 5 d 15% ad Yokohama, yen .. 14 l-64d 14d 24.58 d Batavia, fl. . • 7.24% 7.24% 12.10 Belgrade, din. . . 217 217 Warsaw, zloty .. 26.18 'Sellers. NEW ZEALAND QUOTATIONS Tho 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. .. .. 3.99% 3.99 On demand .. 3.99% 3.99% Buying: l On demand .. 4.04% 4.03^ Following are the latest rates for purchases and sales of foreign exchange quoted by tho Bank of Now South Wales, Auckland. They are subject to alteration without notice: — T.T. On Demand To £1 N.Z. Currency Selling Buying Selling U.S.A., dol. .. 3.99% 4.04% 3.99% Canada, dol. .. 3.98% 4.03% 3.99% Austria, sch. .. 20.72 Belgium, belga .. 23.458 Czechoslovakia, cr. 91.89 Denmark, kr. .. 17.893 18.263 17.903 France, fr. .. 69.93 61.21 59.97 Germany, r.m. . . 9.797 Holland, fl. •. 5.800 6.010 5.804 Java, fl. . . .. 5.769 5.989 5.773 Norway, kr. .. 15.895 16.245 15.905 Sweden, kr. .. 15.489 15.844 15.499 Switzerland, fr. . . 12.069 12.444 12.074 Noumea, fr. . . 58.56 63.01 58.62 Papeete, fr. .. 58.71 63.01 68 77 N.Z. pence to— Hongkong, dol. . . 20 I '%a 18 I VU 20% India, rupee .. 22 s %, 22% a 22 57-64 Ceylon, rupee . . 22 J % a 22% a 22 57-64 Japan, yen .. 17% Shanghai, dol. .. 18% 17% a lB 39-64 Singapore, doi. .. 35 l % a 84%„ 35 29-64 The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on tho latest quotations, is as follows:—* Present Price Par sd b d Australia, pound .. 19 10.81 20 0.00 London, pound .. 24 10.65 20 0.00 Fiji, pound .. .. 22 5.68 20 0.00 New York, dollar .. 4 11.84 4 1.31 Montreal, dollar . • 4 11.97 4 1.31 Paris, franc .. .. 0 8.99 0 1.98 Berlin, reichmark 2 0.28 0 11.74 Copenhagen, krone .. 1 1.33 1 1.22 Yokohama, yen . . .. 1 5.43 2 0.58 CUSTOMS EXCHANGE RATES Bates of exchange ruling at the announced dates of departure of vessels 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 arrival of the vessel in New Zealand. Finally declared rates are marked*:— Canadian Planter, Canada, dollars 4.95% Aorangi, Canada, dollars .. .. 499 Cape York, America, dollars .. 6.01 Cape York, Canada, dollars . 4.96 Port Brisbane, America, dollars .. 4.99% Chifuku Maru, Japan, yon .. .. 14% 2 d Golden State, America, dollarß . . 5.01 Mariposa, America, dollars .. 5.01% Melbourne Maru, Japan, yen . . 15% d WHEAT, FLOUR AND PULSE LONDON, Feb. 18 Wheat. —Cargoes and parcels are firm. Futures —London: March, 29s 5d a quarter; July, 29s 4}d. LiverpoolMarch, 6s o£d a cental; May, 6s Ogd; July, 6s ljd. Spot trade, quiet. Australian, ex ship, 32s to 32s 6d. Flour steady. Australian, ex store, 22s 6d to 22s 9d. Oats, peas and beans quiet and quotations nominal. Raw sugar, beetroot basis, 4s IOJd a cwt.