THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22468, 11 July 1936, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN DECLINE IN DEPOSITS LARGE GOLD HOLDING LONDON. July 0 The Bank of England return for the week ended July 8 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt, debt £11,000,000 111 circu- Other Govt, lution ill 13,100,000 securities 248,200,000 In bank- Other seruingdopt. 42,500,000 rities . . 100,000 Silver coin 700,000 * £'200,0( >O.OOO Gold coin & bullion 225,000,000 £485,000,000 £485,000,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £14,500,000 Govt, secu* Rest . . 3,500,000 rities . . £08,800,000 Deposits— Advances Public . . 10,500,000 and other Hankers & securities 23,400,000 other acs. 135,200,000 Notes . . 42,500,000 Gold and silver coin 1,000,000 £ 103,700,000 £ 103,700,000 The principal items of the above return compare as follows with those for last week, the-proportion of the reserve being shown in the last lino: — Deposits— Jul.v 1 July 8 Public £0,000,000 £10,500,000 Hankers .. 111,700,000 00,700,000 Other Accounts 30,800,000 38,500,000 £101,100,000 £145.700,000 Securities— Government . . 110,400,000 00,800,000 Advances, etc. 10,000,000 0,000,000 Other 15,! 100,000 17,400,000 Reserve . 42,400,000 43,500,000 Note circulation 430,000,000 413,100,000 Coin and bullion 222,000,000 220,000,000 Proportion 20.(il) 20.85

RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent, to which it was reduced on .June 30, 19M2, from 2 J per cent. CONSOLS AND COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those ol July 2:—

FOREIGN EXCHANGES MINOR FLUCTUATIONS British Wireless KUGBK, July 0 The following rates on,foreign exchanges are current, compared with the cabled quotations on July 8 and par:

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 On demand . . 4.02% 4.03/4 T.T. 4.0-/4 4.03 Buying: , „ On demand 4.0iV 4 4.0<,-i 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: — To £1 N.Z T.T On Demand Currency Selling Htiyine U.S A., do! .. 4.0-J'A 4 'HiA i Canada, dol. . 4.03 4.0.V, 4.037, Austria, soli. . . 20.07 Belgium, bcltra 23.711 Czcciio'vakia, or. 1)0.02 Denmark, kr. 17.5i)3 18.2 C.5 li.mu France, fr. 00.51 Ofv> nermany, r.m. 0.022 1 L-A Holland, n . 5.800 r'o.',Java, fl • 5.833 - B.s-/ Norway, kr... 15.502 10.042 15.0 2 Sweden, kr. .. 15.189 15.814 15.41 JO Switzerland, fr. 12.215 rii'on Noumea, fr. .. 50.14 - 5 ,_0 Papeete, fr. .. 50.20 HonitkonK 0 dol. 19 1 r;-l« J Cejion "rupee 52 20-32 22 1-32 22 57-0. Shanghai! dol. Vi r'tM 'r> I VH r ' Singapore. dol .v>3i-04 31 15-01 •• • The cost in New Zealand currency of the pound sterling, and of the principal overseas units, on the latest quotations. is as follows:- ~r oacnt p rir , Australia, pound 10 10-81 ~0 London, pound .. 24 " r 1-1.11, pound • • -- •", ! . , New York, dollar .. 4 11. ' j •; Montreal, dollar .. 4 11.40 4 1.. Paris, franc • • \> •; 1 {, . Iterlin. reichmnrk .. 1 1 '{'A., Copenhagen. krone 1 Yokohama von 1 5.4* <> «>» CUSTOMS EXCHANGE RATES Hates of exchange ruling at the announced dates 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 Finally declared rates are marked*:— City of Ualavia, America, dollars 500 Cambridge. America, dollars •> - Cambridge Canada <<> ars ,5 Ol Wiiiotnpn America, dollars . Man in Maru. Japan, veil . V w I'nii.'iilian I'omitieror Canndn .lollars r» a (iolden Coast America, dollars .>.ii-,n CALL AND DIVIDEND LI SI Dividends— l)n< ' National Hank N / —finai i p.c. in sterling, free of tax To-day Maori Cully—ld a share To-day Woolwortlis (Sydney) int. iiuar terly, 2 p.c J "!' V Mossv Creek—ld » aliare July 15 Consolidated Brick—2 p.c. .. July 10 Mt. Morgan—int.. quarterly. 4 , / 3 d a stiare • '"! v - Golden Ilawn—ls a share . . July 21 llrit'sh Tobacco— quarterly, pref.. p.c. pa lul.v 3) Union Hank—int 2s Od a share • • » a,v N.Z Insurance—final. Is a share Aug. I Farmers' Fert. —5% p.c. . Aug Com. Bank Aust.—final, ord.. 3 1-3 p.c.: pref.. 2 p.c. . . Ana

Price Variation 1' 8 d r d Consols, '2Vi p.c. 85 0 0 -10 0 Fund. I/O,'in, 4, 1000-90 117 0 0 Same War Loan, 3% 100 5 0 +5 0 Conversion Loan 3Y a 107 5 0 -7 « Victory Bonds, 4 115 10 0 8a me C'wealth, 5, 19-15-75 109 10 3 -1 3 0" weal III, 3%, 1930-37 101 17 (i +2 6 C'wealth, -1, 19-13-48 10-1 10 a + 1 3 C'wealth, 3V 4 , 1918-53 103 G 3 + 3 9 C'wealth, 3%, 195(1-01 99 6 3 +2 0 C'wealth, 3, 1955-58 93 1(5 3 -1 3 N.S.W., 3 Vs, 1930-50 100 12 0 +5 0 N.S.W., 4'A, 1935-45 100 12 0 +-1 10% Victorian, 3, 1929-49 98 2 6 Same Victorian, 1%, 1940-00 105 2 0 +2 0 Victorian, 5, 1945-75 109 12 B + 2 0 Queensland, 3, 1922-4" 98 8 9 + 1 3 -1 3 +7 fi Queensland, 5, 1940-00 S.A., 3, 1913 or after 108 87 1 10 3 0 S A.. 5, 1915-75 .. 109 10 0 + 2 fi W.A., 4, 1912-02 . . 102 0 0 Same Tasmania, 3Vs, 1920-10 102 10 0 -2 6 Tasmania, 4, 1910-50 102 0 0 ' +5 0 N.Z., 4Vi. 1918-58 . . 108 () 0 + 85 0 N J/,., 3%, 1910 . 101 10 0 Si'me N.Z., 3, 1945 100 10 0 -5 0 N.Z., 0. 1930-51 102 13 9 Same

July n July 8 Par Montreal. dot. 5.02% r,.(rr/. 1.806 New York, dol. 5.02 5.02% 4.800' Paris, fr. 1 ""/if, I 5 1 V: r 124.21 Brussels, hclffa •_'!U I!) •20.70 35.00 Geneva, fr. . . i 5.32% 15.33 25.22 Amsterdam, fl. 7.3oy 4 7.37% 12.10 Milan, lire 03 1 Yi« 1)2.40 Berlin, r.m. . 12.14 l'J..It 1 /, 20.43 Stockholm, kr. HUH) IH.IM) 18.151) Copenhagen, kr. 23.37% 23.37% 18.159 Oslo. kr. l!».MO% 1 H.!)0% 1 8.15!) Vienna, sell. . 20 J -i 20% 34.585 Prajrue, kr. . 120*'. 120"/,,. 104.25 Helsinstfors, m. 22 7 ■j'j 7 1! 13.23 Madrid, pes. . . 31! 35-04 25.221 Lisbon, escu. . . IDS'/f 108% 1 10 Athens, dr. 527* 5'J 7" 375.00 Bucharest, lei. (>74" 071* 813.0 Rio de Janeiro •iy,d •1 Vid 5.S!li)d Buenos Aires, d. 35d 35d 47.(ilOd Montevideo, dol. ;w„ir 51d Bombay, rupee lS'/ad 1 K%d 18(1 Shanghai, dol. 14 l3 /„d I4%d — Hongkong, dol. ioy 10 d 15'/x 6 d — Yokohama, yen 1 tV'iid 14% a d 24.58d Batavia, fl. . 7.33% 7.33% 12.10 Belgrade, diri. 21!) 220 270.31 Warsaw, zloty - 13 38 4 'Sellers