RESERVE BANK RETURN

New Zealand Herald, Volume LXXIII, Issue 22539, 2 October 1936, Page 7

RESERVE BANK RETURN

ADVANCES ON PRODUCE £200,000 INCREASE SHOWN BANKS' HOLDINGS HIGHER [by TKLEGItAPH —PIIESS association] WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, September 28, was gazetted to-night. The statement is balanced fit £23,793,466, or £190,609 more than at the close of the previous week. Advances to the State have been increased substantially since the previous return. The amount provided for the Dairy Industry Account is higher by £201,119. That described as for other purposes remains unchanged at £700,000, making the total of the two £1,795,350. The (sterling exchange reserve has decreased by another £85.938. Investments are higher by £87,727. The greatest movement on the liabilities side has been an increase of £219,852 in the deposits of the trading banks. State deposits are lower by £52,134. The note issue has fallen by £19,728, while there has been an increase of £50,648 in the item other demand liabilities. The statement with variations compared with the week before is as follows: — LIABILITIES £ £ Variation 1. Gen. reserve . . 1,500,000 Samo '2. Hank notes . . 11,17-1,758 -15),7128 3. Demand liabilities—(a) State . . 3,898,003 -52,131 <b) Banks .. 0.873,5-M +219,852 (c) Other .. 21 1,035 +50,(>18 0. Other liabilities 105,480 +1)71 Total . . 23,71)3,400 +IOO,OOO ASSETS £ £ 7. Reserve — (a) Gold .. 2,801,733 Same (b) Sterling ex. 10,835,504 -85,038 8. Subsidiary coin 170,524 -1,771 10. Advances — (a) To State or State undertakings: (1) Dairy Indus- . try Ac. . . 1,005,350 +201,110 (2) For other purposes . . 700,000 Samo 11. Investment . . 2,123,577 +87,727 13. Other assets . . 00,718 -1 ,o'-8 Total . . 23,703,400 +199,000 Proportion of reserve to notes and other demand liabilities, 88.504 per cent (89.694 last week). THAMES THEATRE COMPANY HIGHER DIVIDEND RATE A net profit of £491 against £4Ol in the previous year was earned by Thames Theatre Company, Limited, for the year ended August 31. The directs s recommend an increase in dividend Iron- 3 to 5 per cent. The directors report that the arraigoment under which the two local theatres were worked under joint control continued to prove satisfactory. Reconstruction work during tho year co.'it £743. The retiring directors, the Hon. A. Burns, M.L.C., and ,Mr. J. Kernick,* oilei themselves for re-election. BRITAIN'S RECOVERY RETAIL TRADE IMPROVES (Received October J, 0.5 p.m.) British Wireless RUGBY, Sept. 30 The retail trade in Britain continues to expand, showing the growth of purchasing power aiming all classes ol people as the result of the great recovery in British trade and industry. Sales in August were 7.4 per cent greater in value than the year before, nnd the total sales in tho first seven months of the present trading year were (5.4 per cent larger than for the same period of 1935. In August stocks were 2.9 per cent higher in value than a year earlier and employment 2.5 per cent greater. PROPERTY AUCTIONS T. Mandeno Jackson will offer at auction at his rooms, 3 Swanson Street, at 11 o'clock to-day, lease on Glasgow system of property on the Great South Road at Papaknra, for 21 years with perpetual right of renewal at revaluation.