THE MONEY MARKET

New Zealand Herald, Volume LXXIV, Issue 22622, 9 January 1937, Page 5

THE MONEY MARKET

BANK OF ENGLAND RETURN DECLINE IN DEPOSITS NOTE CIRCULATION DOWN LONDON, Jan. 7 The "Hank of England return for tho week ended .January 6 is as follows; ISSUE DEP A RTM EN T Notes issued; — Govt, debt £11,000,00(1 ]n circu- Other Govt. lation £'402,700,000 securities 188,000,000 In bank- Other sealing dept. 51,000,000 rilies 100, OOC Silver coin *£200,000,000 Gold coin & bullion 313,700,000 £513,700,000 £'513,700,000 "Amount, of fiduciary issue. BANKING DEPARTMENT Capital .. £14,500,000 Govt, securest .. 3,500,000 rities £03,300,000 Deposits- Advances Public . . 13,500,000 and other Banters & securities 35,500,000 other acs. 148,700,000 Notes . . 51,000,000 Gold and silver coin 400,000 £ 180,200,000 £180,200,000 The principal items of the abovo return compare as follows with those for last week, the proportion of the reserve being shown in tho last line: Deposits— Dec. 30 Jan. (i Public. .. £12,100,000 £13,500,000 Hankers . . 150,000,000 1 10,300,000 Other Accounts 39,200,000 38,400,000 I £201,900,000 £102,200,000 Securities — Government .. 131,500,000 93,300,000 Advances, etc. 17,100,000 14,400,000 Other .. 21,200,000 21,100,000 Reserve .. 40,800,000 51,100,000 Note circulation 407,400,001.1 402,700,000 (.'din and bullion 314,200,000 311,100,000 Proportion .. 23.1 s 31.71 RATE OF DISCOUNT The ]sank of England rate, of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2i per cent. CONSOLS AND DOMINION STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with thoso of December 31: — Price Variation £sd s d Consols, 2y 3 p.c. .. 84 10 O - - J (i Fund. Loan, 4, 1900-90 11 (i 0 0 -5 0 War Loan, 3! a . . 105 12 0 +5 0 Conversion Loan, 3Vi .. 1(10 10 0 -f'J O Victory Bonds, 4 .. 114 15 0 +3 0 Com'wcalth, 5, 1945-75 109 5 (I -5 0 Com'wealth, 3'/ z , 1930-37 loi O 0 Same Com'wcalth, 4, 1943-18 101 2 fi -5 0 Coiu'wealth, 3 ';, 1918-53 103 7 0 +2 0 Com'wealth, 3'j, 1950-01 99 17 (i -J 0 Com'wealth, 3. 1955-58 90 15 0 Samo N.S.W.. -l'/a, 1935-4 5.. 100 5 0 Same Victorian, 3, 1929-49 .. lis 15 0 -3 9 Victorian, 1910-00 lot 5 o -O 3 Victorian, 5, 1915-75 . 108 17 15 -5 O Queensland, 3, 1922-17 98 10 3 -2 (i Queensland, 5, 1910-00 107 2 O —•> <• S., Aust., 3, 1910 or after 90 15 o +5 o S Aust., 5, 1915-75 .. 1011 1 3 -O 3 W. Aust., 4, 1912-02 101 12 0 -3 I) Tasmania, 3 , / 3 , 1920-40 102 o o +3 si Tasmania, 4, 1910-50 . 101 7 0 +2 0 N.Z., l" 2 , 1918-58 .. 107 10 0 -5 0 NZ 3 1 1910 ' .. 101 0 3 -2 O N.Z., 3, 1915 . -• 190 0 0 Same FOREIGN EXCHANGES MINOR FLUCTUATIONS British Wireless RUGBY, Jan. 7 The following rates on foreign exchanges are current, compared with the cabled quotations on January 6 and par: Jan. 7 Jan. (3 Par Montreal, d 01... 4.91 4.91 4.800 New York, dol. 4.91'/., 4.91% 4.80 Paris, fr. . . 105 , 1J 105V ( j 105.00 Brussels, belga.. 29.13V1 29.13", 35.00 (ieneva, fr. .. 21.37'/i 21.3,% 25.22 Amsterdam, gr. K.97V« 8.97' 4 12.10 Milan, lire .. 03* o:r, 3 92.(10 Berlin, r.m. .. 12.20 12.21 20.13 Stockholm, kr... 19.39'/a 19.30'/, 18.159 Copenhagen, kr. 22.10 22.10 18.159 Oslo, kr. .. 19.90 19.90 18.159 Vienna, sell. . . 20V ? 2<>'/i 31.585 Prague, kr. .. 140% 110% 101.25 Helsingfors, mark 220% 220% 193.23 Madrid, pes. .. 55t 5.V 25.221 Lisbon, escu. .. 110/'1« 110,40 HO Athens, dr. . . 517Va 517'/a 375.00 Bucharest, lei... 020 020 813.0 Rio de Janeiro, 111. 4'vl 4'/id 5.8!19d Montevideo, dol. 39% d 30% d sld Bombay, rupee.. 18%j<l 18% ad 18d Shanghai, d 01... 11'. 2 d 14/ id Hongkong, dot. 14 is/ „d Yokohama, yen 13 59-Old 13 59-old 24..>8<1 Batavia, gr. . . 8.93'/ a 8.93% 12.10 Belgrade, din... 213 213 27(5.31 Warsaw, zloty.. 20.0(5 20.06 43.3S INominal. NEW ZEALAND QUOTATIONS The Associated Hanks (other than the Bank of New South Wales) quoted tho following dollar rates yesterday, 011 a New Zealand currency basis, subject to alteration without notice: — Selling: United States Canada On demand .. 3.0 I' b 3.94 T.T 3.93'; 8 3.93'/ a Buying: On demand . . 3.98'/i 3.98% 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. .. 3.03% 3.98% 3.04% Canada, dol. . . 3.93% 3.98% 3.94% Austria, sell. . 2007 Belgium, helga 23.206 Czecho'vakia, cr. 111.79 Denmark, kr. . 17.893 18.203 17.903 France, fr. . . 5t.23 Germany, r.m. 9.737 Holland, fl. .. 7.101 Italy, lire .. 74.74 Java, (1. .. 7.121 Norway, kr. .. 15.891 10.241 15.901 Sweden, kr. . . 15.189 15.814 15.199 Switzerland, fr. 17.085 I <.090 Noumea, fr. . . 82.80 Papeete., fr. .. 83.01 -- 83.07 N.Z. pence to— Hongkong, dol. 18 13-10 38 9-32 18 51-04 India, rupee 22 45-04 22 25-04 22 11-10 Cc.vlon, rupco . 22 15-01 22 25-01 22 11-10 Japan, yen 17% - 17 23-04 Shanghai, dol. 18 5-10 17 25-32 18 1941 Singapore, dol. 35 13-04 34% 303-l(i Chefoo, dol. .. 18 29-01 17 25-32 18 7-10 Tho cost in New Zealand currency of the pound sterling, and of the principal overseas units, 011 the latest quotations, is as follows: Present Prico Par s <1 s d London, pound .. 21 10.05 20 0.00 Australia, pound .. 19 10.81 20 0.00 Fiji, pound .. 22 5.00 20 0.00 New York, dollar .. 5 0.97 4 1.31 Montreal, dollar .. 5 1.03 4 1.31 Paris, franc .. 0 2.82 0 -..28 Rerliii, reichsniark . 2 0.41 (I 11.<4 Copenhagen, krone . 1 1.33 1 l.'-~ Yokohama, yen . . 1 0.35 2 0..18 CUSTOMS EXCHANGE RATES Untes 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*: Limerick, Canada, dollars .. .. *4.90 Limerick, America, dollars .. .. *4.90 Aornngi, Canada, dollars .. .. *4.01 Northumberland, America, dollars .. *4.91 CHICAGO WHEAT MARKET CHICAGO, Jan. 7 Wheat. —May, 1 dollar .'l.'l 5-8 cents a, bushel; July, 1 dollar 17i cents; September, 1 dollar J-1i cents. LONDON EGG MARKET LONDON, Jan. 7 The egg market is depressed. Prices nominally are: Seven teens, S's; sixteens, Ss to 8s (id; fifteens, 7s 6(1; fourteens, 7s Jld to /s (id; thirteen and a-lialf, 7s to 7s .'id. QUOTATION FOR SUGAR LONDON, Jan. 7 Baw sugar, beetroot basis, is quoted at 5s 7id a cwt.