THE MONEY MARKET

New Zealand Herald, Volume LXXIV, Issue 22670, 6 March 1937, Page 11

THE MONEY MARKET

BANK OF ENGLAND RETURN DECLINE IN DEPOSITS STEADY GOLD HOLDING LONDON, March 4 Tho Bank of England return for tho week ended March 3 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt.debt £11,000,000 In circu- Other Govt. lfttion £161,000,000 securities 180,700,000 In bank- Other socuing dept. 02,700,000 ritics .. 2,300,000 *£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 r . . 3,700,000 ritics £85,100,000 Deposits— Advances Public . . 15,200,000 and otbor Bankers & securities 26,200,000 other acs. 13.1,500,000 Notes . . 52,700,000 Gold and silver coin 900,000 £ 161,000,000 £164,000,000 Tho principal items of the abovo return compare as follows with those for last week, the proportion of the reserve being shown in the last line: —.> Deposits— Feb. 24 Mar. 3 Public .. £13,000,000 £15,200,000 Bankers . . 100,400,000 03,800,000 Other Accounts 37,000,000 37,700,000 £151,300,000 £146,700,000 Securities— Government .. 85,000,000 85,100,000 Advances, etc. 4,000,000 4,300,000 Other .. 20,300,000 21,000,000 Reserve . . 50,300,000 53,600,000 Noto circulation 455,100,000 461,000,000 Coin and bullion 311,400,000 314,600,000 Proportion .. 30.18 30.52 RATE OF DISCOUNT The Bnnk of England rate of discount is 2 per cent, to which it was reduced i on Juno 30, 1932, from 2\ jier cent. CONSOLS AND DOMINION STOCKS A FIRMER TENDENCY LONDON, March 4 The following table gives quotations for consols and colonial inscribed stocks, compared with those of February 25: —

FOREIGN EXCHANGES STERLING RATHER WEAKER British Wireless RUGBY, March 4 The following rates on foreign exchanges tire current, compared with tho cabled quotations on March 3 and

'Sellers. 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 .. 3.02% 3.02% T.T. .. •• 3.01 Vi 3.01/j Buying: „ , On domand . • 3.00% 3.06/ i Following are tho latest rates for purchases and sales of foreign exchange quoted by the Bank of Now 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. .. 3.01 % 3.00% 3.01'4 1 Canada, dol. . . 3.01% 3.00% 3 01% Austria, sch. . 20.55 ' Belgium, belga 23.160 7',; A A Czecho'vakia, cr. 111-« 1 Jln/.o Denmark, kr. . 1/.803 18.-63 17.003 1 France, fr. .. 84-24 S'.'.oi* 1 Germany, r.m. 0.08(> , Holland. D. .. 7.120 Italy, lire .. 74.34 I Java fl. • • <.O/7 ~~~~ /.OJ>L Norwav kr. .. 15.801 16.241 15.001 Sweden" kr 15.450 15.844 15.400 ; Switzerland, fr. 17.000 - 17.104 ! Noumea, fr. .. 82.57 Papeete, fr. . . 83.0- : Hongkong. 6 doT 18 51-04 1817-64 18 25-32 ' ImMa rupee • 22 11-10 22% 22 43-64 ; Ceylon, ni'pee • 2211.16 22# 22 43-64 Japan, yon .. 3 7 13-G4 ( Shanghai, do. 18% Singapore dol. So 13-64 34 A So 3-16 Chefoo, dol. .. 18 31-04 1/ 13-10 lo 10-J-i The cost in New Zealand currency of the pound sterling, and of tho principal overseas units, on the latest quotations, is as follows: — Present Price Par s d s d Tnniloil pound .. 21 10.65 20 0.00 Australia, pound .. 10 10.81 20 0.00 Fiji, pound • • 22 5.60 20 0.00 New York, c ollar .. r, i.(. 4 1.31 Montreal, dollar .. 5 1.00 4 1.31 Paris, franc . . • > 2.84 0 Berlin, reichsmark . 2 0.61 u li./a Copenhagen, krone 1 1-33 i J.Yokohama, yen „ CUSTOMS EXCHANGE RATES Rates of exchange ruling at tho announced dates of departure of vessels named aro 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 aro marked*: — Port Denison, America, dollars .. 4.80 Port Denison, Canada, dollars .. 4.01 Hauraki. Canada, dollars .. .. 4.00 Golden Coast, America, dollarß .. 4.8 H Niagara, Canada, dollars .. .. *4.00 Niagara, America, dollars .. . 4.50 MINING SHARES IN LONDON u .LONDON, March 4 On the mining market to-day Mount Lye!ls sold at 41s 3d and New Guinea Gold at 3s. WHEAT AND FLOUR LONDON., March 4 Wheat. —Cargoes are steady. Parcels are quiet. Futures: London, March. 41s 11.id a quarter; May, 44s llJd. Liverpool: March, Ss 7Sd a cental; May, Ss 94d; July, 8s lid. Spot trade linn. Australian ox ship, 4bs. Flour steady. Australian ox store, 31s 9d to 32s (ki.

VariaPrice tion Consols, 2% per cent Fund. Loan, 1, '60-00 £ 8 d s d 77 0 0 + 5 Ot 112 10 0 +10 0 War Loan, 3% 103 0 0 +10 0 Conversion Loan, 3% 101 10 0 + 10 0 Victory Bonds, 4 100 10 0 + 10 0 Com'wealth, 5, 1045-75 108 7 0 + 17 (! Com'wcalth, 3 1 / s , '30-37 101 7 G +7 0 Com'wealth, 4, '43-4S 103 12 0 +27 0 Com'wcalth, 3%, '48-53 101 10 0 +20 0 Com'wcalth, 37 a , '5(5-01 90 7 0 +7 6 Com'wcalth, 3, '55-08 02 17 (5 + 13 9 N.S.W., 4 x ,i 1035-45 . 09 12 (5 +20 0 Victorian, 3, 1029-49 . 90 2 0 +15 0 Victorian, 4%, 1040-00 103 10 0 +20 0 Victorian, 5, 1945-75 . 108 10 0 +25 0 Queensland, 3, 1022-47 95 10 0 -20 0 Queensland, 5, 1040-00 104 0 0 -37 Ot S. Aust., 3, '10 or after 83 0 0 +2 0 S. Aust., 5, 1045-75. 108 0 0 +30 0 W. Aust.. 4. 1942-02 101 1 3 + 11 3 Tasmania. 3%. 1920-40 101 >2 0 — 2 6 Tasmania, 4, 1040-50 100 10 0 + 10 0 N.Z., 4Vi, 1948-58 . . 104 0 0 +22 G N.Z.. 3 1 /,, 1010 10 L 3 0 +3 9 X 7... 3. 1045 90 10 0 — 15 Ot tEx interest.

par: — Mar. 4 Mar. 3 Par Montreal, dol... 4.89 4.S0G New York, dol. 4.88 ; Ji 4.81) r 4.80 Paris, fr. 1 05% 3 lOo/aa 105.00 Brussols, bclga.. 28.99% 20.02 35.00 Geneva, fr. 21.40 21.42% 25.22 Amsterdam, gr. Milan, lire 8.92% 8.«2'/ e 12.10 02 lJ /„ 12.14% 02% 02.00 Berlin, r.tn. 12.15% 20.43 Stockholm, kr... 19.39% 19.39% 18.159 Copenhagen, kr. '>2.10 22.40 18.159 Oslo, kr. 19.90 19.90 18.159 Vienna, sell. .. 2 o% 20% 34.585 Prague, kr. 140 140% 164.25 Helsingfors, mark 220% 220% 193.23 Madrid, pes. .. Lisbon, escu. .. 55+ llO'/i, 55+ 110%. 25.221 110 Athens, dr. 547% 547% 375.00 Bucharest, lei... 670 070 813.0 Rio de Janeiro, m. 4%d* 4 %il' 5.899d Montevideo, dol. 30%d* 39 7 /„d* 61d lSd Bombay, rupeo.. lS'/nd 18%d Shanghai, dol... 14 l %ad 14 l %jd 14 1 /ied Hongkong, dol. ll"/iod 24.5Sd Yokohama, yen lid 14 d Batavia, gr. . . 8.88 8.88% 12.10 Belgratlo, din... 213 213 276.31 Warsaw, zloty. . 25.82 25.87 43.3S