RESERVE BANK RETURN

New Zealand Herald, Volume LXXIII, Issue 22431, 29 May 1936, Page 7

RESERVE BANK RETURN

RISE IN STATE DEPOSITS —» DECREASED BANK HOLDINGS EXCHANGE LEVEL LOWER [by TKIiKGRAPH —PRESS association! WELLINGTON. Thursday The Reserve Hank return for the week ended Monday. May 25, was gazetted to-night. The statement is balanced at £28,986,095, or £28,585 more than at the close of the previous week. The note issue has increased by £30,640, this movement following a fall of £8514 the previous week. Government deposits have risen by £356,134, while, largely counter-balanc-ing this, there has been a fall of £305,540 in the level of the trading banks' deposits. "On the assets side, sterling exchange is lower by £102,500. The investment item has increased by £103,737, while other assets are £27,276 higher.

Tho statement with variations compared with the week before is as follows: LIABILITIES Variation 1. (ten. rocervo . . JL'1,500,000 Sanio 2. Bank notfs . . 10,150,795 +30,046 3. Demand liabilitiesla) State . . 8,983,270 +356,134 (b) Banks . 8,078,108 -305,540 (c) Other 190,105 -50.276 G. Other liabilities 77,757 -2,379 Total £28,980,095 +£28,585 ASSETS 7. Reserve—(a) Gold £2,801,733 (b) Sterling - 10~,0f.0 8. Subsidiary coin 200,871 +i2 11. Investment 1,995,991 + I'J]3./3f 13. Other assets 249,739 +2i,27b Total ■ ■ £28,986,095 +£28.585 Proportion of reserve to notes and other demand liabilities, 96.829 per cent (97.716 last week).

TRUSTEES, EXECUTORS CO.

DUNEDIN CONCERN'S YEAR HIGHER PROFIT AND DIVIDEND [BY TELEGRAPH —OWN CORRESPONDENT] DUNEDIN, Thursday The report of the Trustees, Executors and Agency Company of New Zealand, Limited, for the year ended March 31 shows a net profit of £3632, against £2391 earned in tho previous year. With the amount brought forward, there is available £12,377. After payment of an interim dividend of 3 per cent the balance is £11,777, which the directors recommend be dealt with as follows: —A final dividend of 5 per cent (making 8 per cent for the year), £1000; write off freehold property account, £200; write off office furniture account, £155; write off Timaru branch, establishment account, £377; balance to be carried forward (subject to income tax), £10,045.

The year's dividend compares with 6 per cent paid in the previous year.

NATIONAL BANK N.Z. NO CHANGE IN DIVIDEND FOUR PER CENT FOR YEAR [BY TELEGRAPH —PRESS ASSOCIATION! WELLINGTON. Thursday The National Bank of New Zealand, Limited, has received cabled advice from its London office that the board of directors has recommended payment of a final dividend at the rate of 4 per cent per annum for the half-year ended March 3], making 4 per cent, free of tax, for the year, Tho year's dividend is unchanged and is equivalent to £4 18s lOd per cent in ISew Zealand currency.

PRICES OP METALS MARKET FAIRLY STEADY (Received May 28. 7.85 p.m.) LONDON, May 27 Following are to-dnv's quotations on tho Loudon metal market, compared with those of May 2(5May 27 May 20 Per ton Per ton £sd £ s d Copper. Stan., spot . . 30 13 li 3i» IS 15 Copper, stan., ,3 mos. 3G i 8 li 37 3 li Copper, electrolytic 40 15 0 41 0 0 to to 41 5 0 41 2 6 Copper, elect., wire bars. 41 5 0 41 2 6 Lead, soft, spot 15 11 3 15 12 6 Lend, soft, forward 15 12 C 15 13 9 Spelter, spot .. .14 8 9 14 7 6 Spelter, forward 14 12 G 14 13 9 Tin, stan., epot . 201 5 0 201 10 0 Tin, stan., 3 mos. 196 7 6 19G 17 C AUSTRALIAN GLASS FINAL DIVIDEND RAISED The directors of the Australian Glass Manufacturers' Company, Limited, Melbourne, have declared final dividends of 4J per cent on preference sharps and 10 per cent on ordinary shares. The year's payment on preference shares is the same at 9 per cent, while ordinary shares will receive 2 per cent more at 15 per cent. GOLD AND SILVER QUOTATIONS IN LONDON (Received May 28, 7.35 p.m.) LONDON. May 27 Fine gold is quoted to-day at £6 19s 7d an oz., compared with £6 19s 8d yesterday. Silver is quoted at 19£ d an oz. spot and forward, compared with 20d yes- ■ terday. The quotation for silver at per fine oz. is 21 5-16 d, compared, with 21 9-16 d yesterday. AUSTRALIAN PRODUCE (Received May 28, 7.5 p.m.) SYDNEY, May 2S Following are to-day's quotations on the Sydney produce market:—Wheat: At country stations, 3s OJd, equal to about 3s 7d, ex trucks, Sydney. Flour £9 10s. Bran, £G 10s. Po'llard, £0 15s! Potatoes," Tastnaniau,' £7 10s to £9; others, to k,i 10s. Onions, Victorian brown, £ll 10s to £l2. Maize, yellow, ss; white, 5s 3d. Adelaide prices are: Wheat, growers' lots, 3s 4Jd Flour, bakers' lots, £9 2s Od. Bran and pollard, £6 10s. Oats. Algerian, 2s. Barley, 2s Id. PROPERTY AUCTIONS Samuel Vaile nnd Rons. Limited, will offei for sale by public auction nt' its rooms. 83 Queen Street, nt 2 p.m. to-day, residence of 10 rooms at No. 17 Market Road. Remuera; also, property fronting Oxford Terras and LnelUmnnm Bt-ach. Devonport, comprising three finis. Messrs. Robert C. Carr and Son ill sell by auction at (heir rooms, 20 Swan&on Street, to-day nt 11 a.m., 1« suburban prop erties situated <in Mount Eden, Orev Lynn. Mount Albeit, Point Chevalier, F.llerslie, Pnpatootoe. Remnrrn and Devonport; also at noon 6-roomed dwelling nt No 30 Royal Terrace. Remuera.