THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22391, 11 April 1936, Page 7

THE MONEY MARKET

HANK OF ENGLAND RETURN DECREASE IN DEPOSITS LARGER NOTE CIRCULATION (Received April 10, 5.5 p.m.) LONDON, April 9 The Bank of England return for the week ended April 8 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt, debt £11,000,000 In circu- Other Govt. lation £421,400,000 securities '247,000,000 In bank- . Othersecuing dept. 39,700,000 rities . . 400,000 Silver coin 1,000,000 ♦£'260.000,000 Gold coin & bullion 201,100,000 £461,100,000 £461,100,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,500,000 Govt, secuHest . . 3,100,000 rities . £93,700,000 Deposits— Advances. Public . . 9,000,000 i'9,B00;000 Bunkers, Other 5ecu£93,400,000 rities, Other acs.', £13,700,000 23,500,000 £37,100,000 130,500,000 Notes . . 39.700.000 Gold and silver coin 800,000 £157,700.000 £157,700,000 The principal items of tho above return compare as follows with those for last week, tho proportion of tho reserve being shown in the last lino: Deposits— April 1 April 8 Public £9,700,000 £9,600,000 Bankers . . . 102.000,000 93.400.000 Other Accounts . :58,500,000 37,100,000 £150.800,000 £140,100,000 Securities— Government . . 95.900.000 93.700.000 Advances etc. . 10.100.000 9,800.000 Other • • 14.000,000 13,700,000 Reserve .' . . 48.500,000 40.500.000 Note circulation .. 413,000,000 421,400.000 Coin and bullion 201,500 000 201,900 000 Proportion . • 32.22 28.91 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* per cent. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial ' inscribed stocks, compared with those of April 2 • Price Valuation

FOREIGN EXCHANGES STEADINESS OF THE FRANC (Received April 10, 5.5 p.m.) British Wireless RUGBY, April 9 The following rates on foreign exchanges were current yesterday, compared with the cabled quotations on April 7 and par:—

•Sellers. (Received April 10, 5.5 p.m.) LONDON. April 9 On the foreign exchange market today the following quotations ruled: — New York, 4.94 5-16 dollars; Paris, 75 francs; Batavia, 7.24 florins. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Thursday, on a New Zealand currency basis, subject to alteration without notice: — Selling: United States Canada On demand . . 3.96% 3.98% T.T. • • • 3.96% 3.98',; V demand . . i.OIV, 4.03 Vi 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 Present Pricf- I ar^ :: hh I 8:S8 nound . -. 22 5.00 20 0.00 New York, dollar .. 5 0.33 4 1.81 ' .. ii OSS 01$ Berlin, reichniark .. 2 0.30 0 11.74 Copenhagen. krone .. 1 1.»3 > Yokohama, ycD . •• 1 2 0.53 CUSTOMS EXCHANGE RATES Rates of exchange ruling at the announced dates of departure of.vessels named are shown in ■ tho following table. Thev are subject to confirmation by the Customs Department when the exact time of departure is learned. Finally declared rates are marked*:— Canadian 'Victor, Canada, dollars *4.99 Canadian Victor. America, do ars 4.99 City of Canberra, Conada, dollars 4.98 City of Canberra, America, dollars 4.96 Canadian Highlander. Canada, dol. 4.93 Limerick. America, do lars .. ■ • 4.90 Aorangi, Canada, dollars .. .. 4.97 Aorangi, America, dol ars .. 4.97 Mariposa. America, dollars 4.95/« SUGAR IN LONDON (Received April 10, 6.5 p.m.) LONDON, April 9 Raw sugar, beetroot basis, is quoted at 4s 10jd a cwt.

£ 8 d s d Consols. 24 per cent 85 0 0 Same Same Funding Loan, 4, 1960-90 117 10 0 War Loan, 3} . . 107 10 0 +5 0 Conversion Loon, 3J . ■ 107 10 0 + 10 0 Victory Bond», 4 G'om'wealtli, 5, 1945-75 . . 115 10 0 Same 111 17 6 +2 6 Com'wealth, 3j, 1930-37 . . 101 18 9 + 1 3 Com'wealth. 4, J943--I8 . . 104 6 3 — 1 3 Com'wealth, 35. 1948-53. . 104 8 9 + 1 3 Com'wealth 3J? 1956-61. . 100 1 3 -1 3 N.S.W., 31. 1930-50 101 7 G -3 9 N.S.W.. 4J. 1935-45 101 15 0 -3 9 Victorian. 3. 1929-49 99 0 0 Same Victorian, 4J, 1940-60 106 12 6 +5 0 Victorian. 5. 1945-75 111 15 0 +5 0 Queensland. 3. 1922-47 . . 99 2 6 -2 6 Queensland, 5. 1940-00 . . 107 15 0 Some S. Aust.. 3, 1910 or after 89 2 0 -2 6 S. Australia. 5. 1945-75 . . 111 17 6 +8 9 W. Australia. 4. 1942-62 . 103 12 6 +7 6 Tasmania, 3}, 1920-40 103 11 3 -1 3 Tasmania. 4, 1940-50 103 8 9 -3 9 Now Zealand, 45, 1948-58 109 0 0 -10 0 New Zealand. 31, 1940 .. 104 0 0 + 1 3 New Zealand, 3, 1945 101 10 0 + 5 0 New Zealand. 6, 1936-51 . 102 6 3 -3 9

April 8 April 7 Par Montreal, dol. . . 4.9G'/i 4.97% 4.8G0 New York, dol. . 4.94 3 /i 4.94»/„ 4.8GG Paris, fr. 75 75 124.21 Brussels, belga . 23.20% 29.21 35.00 Geneva, fr. 15.17% 15.17% 25.22 Amsterdam, fl. , 7.27% 7.27% 12.10 Milan, lire 62% 62 ll /,« 92.46 Berlin, i.m. 12.38% 12.38 20.43 Stockholm, kr. . 19.39% 19.39% 18.159 Copenhagen, kr. . 23.37% 23.37% 18.159 Oslo, kr. 19.90% 19.90% 18.159 Vienna, sch. 26% 26% 34.585 Prague, kr. 119% 119%# 164.25 Helsingforfl, mark 227 227 193.C3 Madrid, pes. 36 11-64 36 11-64 25.221 Lisbon, escu 108% 108% 110 Athens, dr. 520* 521* 375.00 Bucharest, lei. . 609* 072* 813.6 Rio de Janeiro, mil. 4'id 4Vid 5.899d Buenos Aires, dol. 35d 35(1 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 ,9 /i«d — Yokohama, yen . 14% a d 14% 3 d 24.58d Batavia, fl. 7.24 7.24% 12.10 Belgrade, din, . . 217 218 276.31

•T.T. On Demand Tn f 1 N.Z. Currency Selling Buying Soiling U.S.A., dol. 3.96% 4.01V; 3.96% Canada, dol. 3.98% 4.02% 3.98% Austria, sch. .: 20.82 — 20.84 Belcrium. belpa . . 23.325 — 23.336 Czechoslovakia, cr. 95.05 — 95.10 Denmark, kr. 17,893 18.263 17.903 France, fr. 59.93 61.21 59.97 Germany, r.m. 9.801 — , 9.806 Holland, fl. 5.795 6.005 5.799 Jnva, fl. • • 5.757 5.977 5.761 Norway, kr. 15.892 16.242 15.902 Sweden, kr. 15.489 15.844 15.499 Switzerland, fr. . . 12.093 12.468 12.098 Noumea, fr. 58.50 63.01 58.62 Papeete, fr. 58.71 63.01 58.77 N.Z. pence to— Honprkons, dol. .. India, rupee Ceylon, rupee Japan, yen Shanghai, dol. Singapore, dol. . . 20 25-64 22 a %, 22»%a 17 39-64 18 41-64 35 31-64 18 51-64 20 23-G4 22Via 22 57-64 22Via 22 57-64 17'%, 17 5-64 18% 31 15-64 35 l %a