THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22350, 22 February 1936, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN j INCREASE IN DEPOSITS NOTE CIRCULATION DOWN LONDON, Feb. 20 The Bank of England return for the week ended February 19 is as follows: ISSUE DEPARTMENT Notes issued : Govt, debt £11,000,000 In circu- Other Govt. lation £390,900,000 securities 245,600,000 In bank- Other secuing dept. 63,700,000 rities . . 2,300,000 Silver coin 1,100,000 *£260,000,000 Gold coin & bullion 200,6fK).000 £460,600.000 £160,600,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,501),000 Govt, secuRest 3.700,000 rities . . £78.700.000 Deposits— Advances. Public . . 11,100,000 £11,700,000 Bankers, Other secu£lo7.6oo.ooo rities. Other acs., £18.100.000 29.800,000 £36,000,000 143,000.000 Notes . . 63,700.000 Gold and silver coin 700,000 M £172,900,000 £172,900,000 The principal items of the above return compare as follow with those for last week, the proportion of the reserve being shown in the last line: — Deposits— Feb. 12 Feb. 19 Public . . £11.000,000 £11,100,000 Bankers, . 103,600,000 107,600,000 Other Accounts . 36.300,000 36,000,000 £150,900,000 £151,700,000 Securities— Government . . 79,200,000 78,700,000 Advances, etc. . . 13,400,000 11,700,000 Other . . . . 14,500,000 18,100,000 Reserve . . 61,900,000 64,400,000 Note circulation . . 399,300,000 396,900,000 Coin and bullion . 201.200,000 201,300,000 Proportion • • 41.04 41.65 RATE OF DISCOUNT The Bank of England rate ol discount is 2 per cent, to which it was reduced on June 30, 1932, from 2J tier cent. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of February 13: < VariaPrice tion £Bd s d Consols, 2i per cent .. 85 12 6 +2 6 Funding Loan, 4, 1960-90 118 15 +5 0 War Loan, 3i .... 107 7 6 +l7 6 Conversion Loan, 3j . . 108 12 6 +l'- 6 Victory Bonds, 4» . . 118 15 0 +3;> 0 Com'wealth, 5, 1945-75 111 10 0 +7 6, Com'wealth, 3i, .1936-37 103 0 0 -2 b Com'wealth, 4, 1943-18 105 5 0 +2 6 Com'wealth. 3J, 1948-53 104 3 9 + 7 6 Com'wealth, 3t, 1956-61 99 17 G Same N.S.W., 31. 1930-50 . . 101 5 0 +3 0 N.S.W., 45. 1935-45 . . 101 12 6 -1 •? N.S.W., 5, 1935-55 . . 102 8 9 haine Victorian. 3, 1929-49 99 6 3 +22 6 Victorian. 4}. 1940-60 . . 106 2 6 +6 3 Victorian, 5, 1945-75 . . 1U 6 3 +ll j* Queensland. 3. 1922-47 . . 99 5 0 +23 9 Queensland, 5, 1940-60 . . 109 13 9 +-1 « S. Aus., 3, 1916 or after 89 10 0 -3 9 S. Australia, 5. 1945-75 111 0 0 W. Australia. 4. 1942-62 103 5 0 +7 6 Tasmania. 3}. 1920-40 .. 102 17 6 -3 9 Tasmania, 4, 1910-50 .. 103 7 C +' New Zealand, 4J. 1948-58 109 7 6 +ll 3 New Zealand.' 31, 1940 .'. 103 7 6 +5 0 New Zealand. 3, 1945 . . 102 5 0 . -1 3 New Zealand, 6, 1936-51 102 1 3 -1 3

FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless RUGBY, Feb. 20 The following rates on foreign exchanges arc current, compared with the cabled quotations on February 19 and par;— . Febi 20 Feb. 19 Fnr Montreal, dol. . . 4.98% 4.99 4.866 Paris Y fr k> " - 74% 124 21 Brussels," b'elga 29.27'/, 29.30 35.00 Geneva, fr. .. 1 5 - I ®. i«d ?o'Tn Amsterdam, fl. .. 7.2(»/a 7.?7 12.10 Milan, lire .. 62/,« Sn'lo Berlin, r.m. •• 12.28 12.-8/4 20.43 Stockholm, kr. .. 19.39% 19-39/1 Copenhagen, kr.. . Oslo kr . . . • 19.90% 19.90'/, 18.109 Vienna, sch. .. 20% 26% 34 585 Prague, kr. . 118/* 119 An Helsingfors. mark 227 227 l-oo? Madrid, pes. . . 36/ 3J 3<>/ 3 a r;\ Lisbon, escu. . 110/ a !'2.' 8 i-!?™ Athens, dr. .. 515* 507 875.00 Bucharest, lei. . . 668 c JanJ Rio de Janeiro, mil. 4/„d 4/d .§-§?„4 Buenos Aires, dol. 35d 1 Montevideo, d 01... 39,5 d 3|>%d 51d Bombay, rupee . Shanghai, dol. .. 14Ad 14/ ad Hongkong, dol. . . 15 /d a Z7 r,aA Yokohama, yen .. UAtd 24.68 d Batavja, fl., . . 7.22% 7.23/, 32.10 Belgrade, din. . . 217 216 27b.31 Warsaw, zloty . 20.15 '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 State* Canada T.T 3.99% 8.99% On demand . . 4.00% 4.00 Buying: „ ■ On demand . . 4.0-1% 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 £1 N.Z. Currency Selling Buying Selling U.S.A., dol. .. 8.99% 4.05 4.00% Canada, dol. . . 3.99% 4.04% 4.00% Austria, sch. .. 20.67 Belgium, boiga .. 23.389 Czechoslovakia, cr. 94.65 Denmark, kr. .. 17.893 18.263 17.903 France, fr. .. 59.73 61,01 £9.77 Germany, r.m. ... 9.797 .Holland, fl. .. 6.787 5.997 6.791 Java fl. • » • • 6.753 5.973 5.757 Norway, kr. .. 15.895 16.245 15.905 Sweden kr. .. 15.489 15.844 15.499 Switzerland, fr. .. 12.030 12.405 12.0.i0 Noumea, fr. .. 58.30 62.81 Papeete, fr. . . 58.51 62.81 58.57 N.Z. pence "to— Hongkong, dol. .. 20"/,,, '£./ 32 India, rupee .. 22 / 3 , 22/-,, 22 57 64 Ceylon, rupee . . 22''%, 22Ai 22 07-64 Japan, yen .. 17% J 7 39-64 Shanghai, dol. . . 18"/,« 17/n 18 43 - £4 Singapore, dol. . . 35'%, 34/,« 35 29-64 The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations, is as follows: — Prea-nt Price Par sd » d Australia, pound .. 19 10.81 20 0,00 London, pound .. 24 10.65 20 0.00 Fiji, pound .. «. 22 5.66 20 0.00 New York, dollar .. 4 11.84 4 1.31 Montreal, dollar .. 4 11.87 4 1.31 Paris, franc .. .. 0 3.99 0 I.DH Berlin, reichmark .. 2 0.31 0 11.74 Copenhagen, krone .. 1 1.33 I 1.22 Yokohama, yen . .. 1 5.45 1 0.58 CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced datos 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*: — Cape York. America, dollars 6.01 Cnpe York, Canada, dollars . . 4.96 Port Brisbane, America, dollnrs . . 6.01 1 /,, Golden State, America, dollars . . 5.01 Mariposa, Canada, dollars . . . *4.99 Mnriposa, America, dollars . . *5.02 Melbourne Maru, Japan, yen . . ls"Vid Canadian Scottish, Canada, dollnrs 4.97 , 4

FINANCE CORPORATION ARREARS OF DIVIDEND The Finance .Corporation of Now Zealand, Limited, Hamilton, advises thai the balance of tho preference dividend for the year ended May 31, 1931, is nou payable' The preference share dividend is now in arrears for four years, the contingent liability being about £.'!o(H> MINING SHARES IN LONDON LONDON. Feb. 20 Mining shares sold to-day as follows: Mount Lyell, 20s; New Guinea, 3s 7id; Bulolo, £6 15s 7^d.