THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22356, 29 February 1936, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN STEADY GOLD HOLDING DECLINE IN DEPOSITS LONDON, Feb. 27 The Bank of England return for the week ended February 26 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 2i per cent. CONSOLS AND COLONIAL STOCKS The following table gives quotations for , consols and colonial inscribed stocks, compared with those of Feb-

FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless RUGBY, Feb. 27 The following rates on foreign exchanges are current, compared with the cabled quotations on February 26 and

'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 States Canada T.T 4.00% 3.997 a On demand . . 4.00% 4.00% Buying: On demand . . 4.05 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: —

CUSTOMS EXCHANGE RATES ihitv of exchange ruling at the announced dates of departure of vessels named nro shown in tno table. They arc 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 Port Brisbane. Canada, dollars .. 4.95 Port Brisbane. America, dollars . . o.OJ Golden State. America, dollars .. 5.02 Melbourne Muria. Japan yen . . 148 Canadian Scottish. Canada. dollars i.MA Wairuna. Canada, dollar# . . Keifukii Maru, Japan, yen l 4/ 3a tl CALL AND DIVIDEND LIST Dividends— o Elder Smith—int.. 0 p.o. Mar. 2 Standurd Insurance—int.. Is 3d a share Mar. 2 M.K. Millinery 10 p.o. .. Mar. 2 Siiknit—B p.c. . . .. Mar. 8 Dominion Rubber—-final* 2J p.c. Mar. 6 Rawang Tin—3d sterling a share ' and a bonus of 3d Mar. 12 Broken Hill South—dividend 2s fid a share; bonus 2s 6d a share Mar. 14 Elect. Zinc—int.. ord and pref.. i P.O w ar « Gillespie's Bench—s p.c. . . Mur. 19 Huddart- Parker—final, pref.. .1 p.c.; old.. p.c Mar. '<! l Bnnlt A'nsift- final, 1b 3d a shore, les3 British tax Mar 27 North Broken Hill—int , 2s <>d a share, bonus Is a share . . Mar. 17 Hume Pipe (Anet )—int... 6 p.o. p.a. Mar. BO Millburn Lima—int.. 31 P.O. .. Mar Calls— Mortgage Corp.—si a share .. April 1

ISSUE DEI •AKTMENT Notes issued : — In circnlntion £399,900,000 In blinking deiJt. 00,700,000 Govt, debt Other Govt securities Other securit ies . . Silver coin £11,000,000 '245,800,000 2,100,000 1,100,000 *£200,000,000 CI old coin & bullion 200.000",000 £400,(500,000 I £400,000,000 'Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,500,000 | Best . . 3,700,000 Deposits— Public . . 8,800,000 Bankers, £ lOii, 200,000 Other ncs., £35,500,000 III.700,000 Govt, securities , . Advances, £11.000,000 Ot her securities, £14,100,000 Notes Gold and silver coin £82,100,000 25,100,000 00,700,000 800,000 £106,700,000 i £108,700,000 The principal items of the above return compare us follows with those for last week, the proportion of the reserve being shown in the hist line: — Deposits— Feb. 10 Public .. £11,100,000 Banlcors . . 107,(100,000 Other Accounts . 30,000,000 Feb. 26 £8,800,000 10(5,200,000 35,500,000 £154,700,000 £150,500,000 Securities— Government . . 78,700,000 82,100,000 Advances, etc. . . 11,700,0(X) 11,000,000 Other .. 18,100.000 14,100.000 Keserve - ■ 04,400,000 01,500,000 Note circulation . . 390,900,000 399,900.000 Coin and bullion 201,300,000 201,400,000 Proportion • 41.05 40.85

ruary 20:— Price Variation i 8 d B d Consols, 2t per cent . . 85 5 0 -7 3 Funding Loan, 4, 19(50-90 118 12 0 -2 6 War Loan, 31 106 17 6 -10 0 Conversion Loan. 31 . . 100 2 (i -50 Ot Victory Bonds, 4 115 5 0 -70 o: Com'weulth, 5, 1945-75. . 111 10 0 Same Com'wealth, 31. 1930-37 103 1 3 + 1 3 Com'wealth, 4, 1943-48. . 105 2 6 -2 6 Com'wealth, 35, 19-18-53 104 2 6 -1 3 Com'wealth, 3i, 1950-01 99 17 6 Same N.S.W., 3}. 1930-50 . . 101 o 6 -2 6 N.S.W.. 41. 1935-45 .. 101 12 6 Same N.S.W.. 5, 1935-55 102 10 0 + 1 3 Victorian, 3, 1929-19 . . 99 1 3 -5 0 Victorian, 4J. 1940-00. . 106 o 0 Some Victorian. 5, 1945-75 . . 111 5 0 -1 3 Queensland, 3, 1922-47. . !>9 0 0 — o 0 Queensland, 5. 1910-00. . 109 11 3 -2 6 S. Aus., 3, 1916 or after 89 16 3 +6 3 S. Australia, 5, 1945-75. . 111 10 0 + 10 0 W. Australia, 4. 1942-62 103 2 6 -2 6 Tasmania, 31, 1920-40. . 103 1 3 +3 9 Tasmania. 4. 1940-50 . . 103 10 0 +2 6 New Zealand, 45. 1948-58 109 8 9 + 1 3 New Zealand, 31, 1940 . . 103 12 6 + 5 0 New Zealand, 3, 1945 . . 102 5 0 Same New Zealand. 6, 1936-51 102 2 6 + 1 3 J Ex interest.

par:— Fob. 27 Feb. 26 Par Montreal, dol. . . 4.98/4 4.98/1 4.866 New York, dol. . 4.99% 4.99 4.866 JParis, fr. Brussels, belga . 74' 3 /,„ 71"/,. 124.21 29.29% 29.32 35.00 Geneva, fr. Amsterdam, fl. . 15. 10% 15.13 25.22 7.26% 7.27% 12.10 Milan, lire 62% 62% 92.46 Berlin, r.jn. 12.28 12.29 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 .Copenhagen, kr. . 23.37% 23.37% 18.159 bslo, kr. 19.90% 19.90% 18.159 Vienna, sell. 26% 26% 34.585 Prague, kr. 119 ■ 119% 164.25 Helsinsfors, mark 227 227 193.23 Madrid. pes. 30% A 3()%2 25.221 Lisbon, escu. . . 110% 110% no Athens, dr. 515* 516* 375.00 Bucharest, _ lei. . 670* 670* 813.6 Kio de Janeiro, mil. 4'/id 4%d ■ 5.899(1 Buenos Aires, dol. 35d 35d 47.619d Montevideo, dol. 39%.d 39%.d* 51d Bombay, rupee . 18%d 18%d 18d Shanghai, dol. . 14%d 14 %d — Hongkong, dol. . 15%d 15%d — Yokohama, yen . 13 s % a d 14d 24.58d Batavia, fl. 7.23% 7.23% 12.10 Belgrade, din. . . 216 216 276.31

T.T. On Demand To £1 jSf.Z. Currency Selling Buying Selling U.S.A., dol. 3.99% 3.99% 4.05 4.00% Canada, dol. 4.04% 4.00% Austria, soli. 20.72 — « 20.74 Belgium, . . 23.405 — . 23.416 Czechoslovakia, cr. 94.73 18.263 94.78 Denmark, kr. 17.893 17.903 France, fr. 59.75 61.03 59.79 Germany, r.m. 9.797 — 9.802 Holland, fl. 5.788 5.998 5.792 Java, fl. 5.753 5.973 5.757 Norway, kr. 15.892 10.242 15.902 Sweden, kr. 15.488 15.843 15.498 Switzerland, fr. .. 12.038 ' 12.413 12.043 Noumea, fr. 58.38 62.83 58.44 Papeete, fr. 58.53 62.83 58.59 N.Z. pence to— Hongkong, dol. •. - 20"/,* 22% 22 a % 3 17% 85'%, IB"/,, 20»% 9 India, rupee .. Ceylon, rupee .. Japan, yen Shanghai, dol. Singapore, dol. 22y ?3 22'/Co & 22 57-64 22 57-64 17 31-64 18 45-64 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 Pai B d e d Australia, pound .. 19 10.81 20 0.00 20 0.00 20 0.00 4 1.31 4 1.31 0 1.98 0 11.74 t 1.22 2 0.58 London, pound .. 24 10.65 Fiji, pound .. 22 6.66 New York, dollar i • 4 11.81 Montreal, dollar Paris, franc .. 4 .. 0 11.85 3.99 Berlin, reichmark 2 0.31 Copenhagen, krone .. 1 Yokohama. yen . . 1 1.33 5.30