RESERVE BANK RETURN

New Zealand Herald, Volume LXXIII, Issue 22349, 21 February 1936, Page 7

RESERVE BANK RETURN

REDUCED NOTE ISSUE STATE DEPOSITS HIGHER DECREASE IN EXCHANGE [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, February 17, was gazetted to-night. The statement is balanced at £27,295,634 or £106,594 less than at the close of the previous week. A further decrease of £112,725 in the level of the note issue has occurred, this continuing the downward movement from the peak reached during the holiday season. Government deposits have increased by £161,851, those of the trading banks have fallen by £41,234. The item, liabilities in currencies other than Now Zealand has again disappeared from the return, after having stood at £124,000 for a fortnight. On the assets side the only change of any size is a reduction of £104,058 in tiio level of the sterling exchange reserve. The statement with variations com-, pared with the week before is as follows : LIABILITIES \ Variation 1. Capital .. .. £500,000 Same 2. Gen. reserve . . 1,000,000 Same 3. Bank notes . . 9,851,037 —112,725 4. Demand liabilities—(a) State .. 5,292,141 +161,851 (b) Banks . . 10,443,022 -41,234 (c) Other . . 83,447 +8,884 G. Liabilities in currencies other than N.Z. .. 7. Other liabilities 125,987 +630 Total . . . . £27,295,634 =£106,591 ASSETS 8. Keserve — (a) Gold .. £2,801,733 Same (b) Sterling Ex. 22,494.403 -104,058 9. Subsidiary coin . 191,853 1,554 12. Investment . . 1,776,060 Same 14. Other asseti .. 31,585 - 982 Total .. ( . .. £27,295,634 =£106,594 Proportion of reserve to notes and other demand liabilities, 98.544 per cent (98.531 last week). BUTTER-PAT PAYMENTS FACTORIES IN THE NORTH' [bt telegraph—own correspondent] WHANGAREI, Thursday The Waipu Co-operative Dairy Company, Limited, has to-day made aavance payments to suppliers for January supply of butter-fat at the rate of lOd per lb. for superfine and 9jd for first grade. Although there has been an increase in the production of butter made at the company's factory during the past few weeks the output for this season to date is approximately 20 tons less than that for the corresponding period of last season.

Tho Whangarei Co-operative Dairy Company, Limited, to-day made an advance payment to suppliers for January butter-fat at tho rate of lOd per lb. superfine and 9Jd per lb first grado. This absorbed £30,511, as compared with £25,888 for the same month last year, when the advance was at the rate of BJd per lb superfine and 8d per lb. first grade, an increase of £4623. Last month's output was 11 tons less than that of January, 1935, when 413 tons of butter were manuI factured.

THE ARAWA COMPANY ADVANCE OF 10*1) PER LB. The Arawa Dairy Company, Limited, Whakatane, is advancing IOJd per lb. for January butter-fat. The total disbursement is £11,406. For January, 1935, the advance was at the rate of 9d per lb. and the disbursement £7297. The increase in supply for January over the-same month last year was 34.5 per cent.

GOLD AND SILVER QUOTATIONS IN LONDON (Received February 20, 7.35 p.m.) LONDON, Feb. 19 Fine gold is quoted to-day at £7 Is OJd an ounce, compared with £7' Is 2Jd yesterday. Silver is quoted at 20 l-16d an ounw spot, and 19Jd forward, compared with 19 15-16 d and 19 13-16 d yesterday. The quotation for silver at per fine ounco is 21fd, compared with 21£ d yesterday. SALE OF ROMNEYS RAM REALISES 25 GUINEAS [from ofb own correspondent] HAMILTON, Thursday An auction sale of Romney rnmß wns conducted at Claudelands to-day by the Farmers' Co-operative Auctioneering Compfiny, Limited, tVic New Zonlnnd TjOuti una Mercantile Agency Company. Limited, and Dalgety nnd Company, Limited. There was tin entry of 1200 rnms and there was a good attendance of buyers. A keen demand developed for Rtud sheep, one ram, sold on behalf of Messrs. F. R. Seddon and Son, Puketaha. being bought by Messrs. CoryWright Brothers, Coromandcl, for 2ogns. Flock rams met with a good demand and sold up to 12gns, a price which was realised for two-ehear rams offered by Messrs. Blair and Hunter, of Maxwell, and Messrs. T. R. Seddon and Son. The buyers were Mr. R. Paulsen, of Glen Murray, and Mr. A. J. T. Tapp, of Raglan. The prices for good lots ranged from Signs to 12gns. Others, 7gns to Sens, and ordinary sorts realised from 4 to 6igns. AUSTRALIAN PRODUCE SYDNEY, Feb. 20 Following are to-d-ay's quotations on the Svdney produce market: —Wheat, at country sidings, 3s; bagged and bulk," 3s, equal" to about 3s 6Jd ex trucks Svdnev. Flour. £l2 2s 6d. Bran, £5 10s. Pollard, £6. Potatoes, Tasmanian, to £9. Onions, Victorian Globe, £7 10s; Brown Spanish, £B. Maize, 5s 9d. Adelaide prices are: Wheat: Growers' lots, 3s 4}d. Flour, bakers' lots, £ll 17s Cd. Bran and pollard, £5 7,7s 6d. Oats, Algerian, to Is 9d. Barley, best, Is lid. NEW YORK CALL MONEY NEW YORK. Feb. 10 Call money is quoted at 2 P er cent. PROPERTY AUCTIONS • T. Mandeno Jackson will offer at auction at their rooms, 8 Swanson .Street, at 11 o'clock to-day, residence of nine rooms, on freehold section 70 by 150 feet, at 53 Remuera Road. _ ... a Samuel Vaile-and Sons, Limited, will offer at auction at its rooms. 83 Queen btreet. at 2 p.m. to-day, residence of six rooms, at 12 Cotter Avenue. Remuera C. F. Bennett. Limited, will offer at auction at its rooms, corner of Queen arid Short land Streets, at noon to-day, two properties, one the Heme Bay corner block, in subdivision (five lots) with frontages on Jervois Road 213 ft.. Wallace Street 133 ft. unci Lawrence Street 167 ft.. together with n residence of eight, rooms and motor garage: a property at St. Heliers-Kohimarama of 1 acre 2 roods 27 perches, with 264 ft. frontage to Bay View Road, n®ar Waterfront ! Road, adjacent to Gower a Point.