THE MONEY MARKET

New Zealand Herald, Volume LXXIII, Issue 22540, 3 October 1936, Page 9

THE MONEY MARKET

BANK OF ENGLAND IfETURN LARGER NOTE CIRCULATION DEPOSITS SHOW DECREASE LONDON, Oct. 1 The Hunk of England return for the week ended' September 30 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt, debt £11,000,000 In circu- Other Govt. tat ion £ 14!),400,000 securities 248,100,000 In bank- Other seeuingdept. 50,200,000 ritics 300,000 Silver coin 300,000 *£200,000,000 (■old coin bullion 218,000,000 £ 5( 15,000,000 I £ 51 IN,000,(>00 'Amount of fiduciary issue. BANKING DEPARTMENT Capital.. £ 1 -1,500,000 (iovt.secuRest 3,700,000 ritics ...£80,300,000 Deposits — Advances Public . . 49,700,000 and other Bankers & securities 2K,900,000 other acs. 101,700,000 Notes .. 59,200,000 (iold and silver coin 1,200,000 £ 109,000,000 £ 109,000,000 The principal items of tho above return compare as follows with those for last week, the proportion of the reserve being shown in the last line: Deposits— Sept. 23 Sept. 30 Public .. £10,100,000 £19,700,000 Bankers . . Mis,<><lo,ooo 00,700,000 Other Accounts 3n,n(IO,000 4 1,000,000 £157,200,000 £151,400,000 Securities — Government . . 53,000,000 80,300,000 Advances, etc. 7,900,000 h,500,000 Other . . 20,100,000 20,400,000 : Reserve . . 03,500,000 00,100,000 Note circulation 4 15,100,000 4 19,100,000 i Coin and bullion 218,000,000 249,K00,00U j Proportion . . 10.15 39.87 ; RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent, to which it was reduced 011 June 30, 1932, from 2} per cent. CONSOLS AND DOMINION STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of September 21. Price Variation £ s (1 s d Consols, 2'j per cent . 85 10 0 +l2 0 Fund. Loan, I, 1000-90 117 1 3 -40 3t War I.oan, 3% . . 107 12 0 -5 0 Conversion Loan, 3%. 107 10 3 -2 (i Victory Bonds, 4 ..115 8 !) -2 0 Com'weahh. 5, 1915-75 112 10 0 +3 0 (''wealth, 3%, 1930-37 100 10 0 -32 o: Com'wealth, I, 1!) 13-48 105 3 9 -5 O o'wealth, 3%, 1918-53 101 12 0 4-2 0 ("wealth, 3%, 1950-01 100 5 0 +3 9 Com'wealth, 3, 1955-58 94 12 (i Same N.S.W'., 11/.,I 1 /., 1935-45. 101 10 3 +2 0 Victorian, 3, 1929-19 99 10 0 +1 3 Victorian, 4%, 19 10-00 100 18 0 +8 9 Victorian, 5, 1915-75 111 17 0 -1 3 Queensland, 3, 1922-17 99 15 0 -5 0 , Queensland, 5. 1940-00 107 8 9 - 2 0 S. Aust., 3, 1910 or after 89 17 0 +8 9 S. Australia, 5, 1915-75 112 3 9 +0 3 W. Australia, 4, 1912-02 103 15 0 -2 0 Tasmania, 3%, 1920-40 102 12 0 -2 0 Tasmania, 4, 1010-50 . 103 2 0 -1 3 NZ„ 4%, 1918-58 .. 107 10 0 -3 9 N.Z,, 3%, 1910 .. KM 1 3 Same N.Z., 3, 1945 . . 100 12 0 4-5 0 lEx interest. FOREIGN EXCHANGES STERLING DEPRECIATES British Wireless RUGBY, Oct. 1 The following rates on foreign exchanges are current, compared with the cabled quotations on September 30 and par:— Oct. 1 Sept. 30 Par Montreal, dol. .. 4.93 H 4.91/4 4.500 New York, dol. 4.94V4 4.90 4.500 Paris, fr. J '• % 124.21 Brussels, helga.. 29.25 29.30 35.00 Geneva, fr. 21.15 21.51 1 /j 25.22 Amsterdam, gr. 9.10 8.98 12.10 Milan, lire X ' 92.10 Berlin, r.lll. 12.27% 12.57% 20.13 Stockholm, kr... 19.39", 19.39'/, 18.159 Copenhagen, kr. 22.4 (1 22.10 18.159 Oslo, kr. 1990 19.90 18.159 Vienna, sell. . . 20% 20% 3-1.585 Prague, kr. . . 120 122 104.25 llelsingfors, mark 227 227 193.23 Madrid, pes. . . 551 551 2.V221 Lisbon, eseu. .. 110y ln 11»V5« H<> Athens, dr. 517/2* l 547/4* l 375.00 Bucharest, lei... I I 813.(i Rio de Janeiro, m. 4%d 4%d 5.899(1 Buenos Aires, pes. I t 11.45 Montevideo, dol. t J 51 d Bombay, rupeo.. 18% d IS%d 18(1 Shanghai, d 01... 1 iVird ♦ Hongkong, dol. 11' 3a d IP'ijd Yokohama, yen lld lld 24.58 d Batavia, fl. .. 9.00'/, 8.97'/, 12.10 Belgrade, din. . . ; X 270.31 Warsaw, zloty .. 20.12* INominal. 'Sellers. !Not quoted. 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 On demand .. 3.00% 3.95% T.T 3.95/8 3.05% Buying: On demand . . 4.00% 4.00% 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 Buying Selling U.S.A., dol. .. 3.05% 4.00% 3.95% Canada, dol. . . 3.95% 4.00% 3.05% Austria, sch. .. 21.08 Belgium, belga 23.301 Czecho'vakia, cr. 97.47 Denmark, kr. . 17.893 18.203 17.003 Germany, r.m. . 9.797 Holland, 11. .. 7.208 Ja>*n, fl. .. 7.177 Norway, kr. . . 15.891 10.241 15.001. Sweden, kr. .. 15.101 15.840 15.501 Switzerland, fr. 17145 N.Z. pence (0— Hongkong, dol. 18 45-04 18 11-04 18 11-10 India, rupee .. 22 21-32 22 11-32 22 41-01 Cevlon, rupee 22 21-32 22 11-32 22 41-01 Japan, yen 17 31-01 Shanghai, dol. . 18 17 15-32 17 (>3-01 Singapore, dol. 35 13-04 34 % 3.) 3-D) Tho cost in New Zealand currency of tho pound sterling, and of the principal overseas units, on tho latest quotations, is as follows: — „ Present Price Par s (1 s d London pound .. 24 10.05 20 0.00 Australia, pound .. 19 10.81 20 0.00 Fiji, pound .. 22 5.00 20 D.OO New York, dollar .. 5 0.30 4 1.31 Montreal, dollar .. 5 0.44 4 1.81 Paris, franc . .. liprlin, reiehsmark . . 2 0.32 0 Copenhagen, krone .. 1 1.33 1 Yokohama, yen 1 < r >-4l 20.5 H Tho quotations for tho franc are at present suspended. CUSTOMS EXCHANGE RrATES Rates 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*: — Canadian Highlander, America, dol. *5.03 Canadian Highlander, Canada, dol. *5.03 Golden Cloud, America, dollars .. *5.00 Mariposa, Canada, dollars .. .. *5.04 Mariposa, America, dollars .. *5.(10 Dessau, America, dollars .. .. *5.00 City of Brisbane, America, dollars 5.00% Golden West, America, dollars .. 4.90 BRADFORD TOPS BUSINESS LIMITED LONDON, Oct. 1 On tho Bradford tops market business is limited, the majority of tho firms appearing to avoid important commitments pending the international position becoming more settled. Following are to-day's prices and those of recent weeks: — Sep. 10 Sept. 17 Sep. 24 Oct. 1 Per lb. Per. lb. Per lb. Per lb. Seventies .. 34 33'/, 3,3% 33V, Si.xl v-fours .. 32% 32 32 ,32 Sixties .. 31% 31 31 31 Fiftv-eights .. 25% 25'', 25% 25% Fifty-sixes ~ 20% 20% 20% 20% Fifties .. 10 10 10 10 Forty-sixoa 14% 11 14 14 Forties .. 13% 13% 13% 13% I