RESERVE BANK RETURN

New Zealand Herald, Volume LXXIV, Issue 22740, 28 May 1937, Page 7

RESERVE BANK RETURN

NOTE ISSUE HIGHER EXCHANGE RISES £BBI,OOO FALL OF £663,000 IN ADVANCES [by TELEGRAPH —Fit ESS ASSOCIATION] WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, May 24, was gazetted to-night. The statement is balanced at £32,081,424, or £188,086 more than at the end of the previous week. A further rise of £119,457 in the level of the note issue follows the increase of £39,775 the week before. Government deposits have increased by £123,515 and those of the trading banks by £177,199. Other demand liabilities have fallen by £232,205. The sterling exchange reserve is £881.365 higher in value, while advances to the Dairy Industry Account have fallen by £(362,979. Other assets are £I6,SSS lower. The statement, with variations compared witn the week before, is as follows; LIABILITIES Variation £ £ 1. Gen. reserve . . 1,500,000 Same 2. Bank rotes .. 13.022,503 4-11U.457 3. Demand liabilities—fa) State .. <>,020,830 + 123,515 (b) Banks .. 10,ITT,Til +ITT, IUU (c) Other .. 931,300 -232,20* (» Other liabilities 128,801 +125 Total .. 32,G51,424 4-ISS.OSS ASSETS 7 Reserve—(a) Gold . . 8,801,T0T - Same (b) Sterling Ex.. 21,T1T,255 +-881,305 S. Subsidiary coin 112,431 -13,710 10. Advances—1. Dairy lt dustry Account . . 4,873,572 -G02.070 2. For other purposes .. 200,000 Same 11. Investment .. 2,900,450 Same 13. Other assets .. 00,025 -1(i,58S Total .. 32,081,424 +IBB,OBB Proportion of reserve to notes and other demand liabilities, 78.959 percent (76.585 last week). SHORT LOANS AND BILLS LONDON DISCOUNT RATES LONDON. May 20 Discount and short loan rates on the London market are the same as those for last week, as follows: May lo May 20 p.c. p.c. Day-to-day loans . . . . y 3 y 3 Fine trade bills (3 mos.) 210 2'/, 2to 2'/ a Bank bills (3 months . . •/„ . •/„ Bank bills (0 months) .. % % Treasury bills (2 'months) '/, '/, Treasury bills (3 months) */ lt PRICES OF METALS ALL-ROUND DECLINES LONDON, May 20 Following are to-day's quotations on the London metal market, compared with those of May 25; May 20 May 25 Per Ton Per Ton 1 s d ,C s d Cop., stall., spot . 01 II 3 (i 3 T (i Cop., stall., 3 mos. 5!) 10 10'/j 00 10 4'/ a Cop., electrolytic - 04 10 o 05 o u to to 00 10 0 GT 0 0 Cop., elect., wire bars .. .. 00 io o 07 o o Lead, soft, spot 21 7 0 24 18 0 Lead, soft, forward 21 5 0 24 10 3 Spelter, spot . . 23 7 0 23 18 S) Spelter, forward . •_»;s 12 0 o.j 3 i| Tin, stan., spot . 252 2 O 253 2 0 Tin. stan., 3 mos. 250 17 0 252 2 0

PROPERTY AUCTIONS Alfred Buckland and Sons, Limited, will offer at auction at its Pulcckohe saieyards at noon on Tuesday, a farm property of 1-10 acres, three miles from Pukekoho. . C. F. Bennett, Limited, will offer at auction at its rooms, at the corner of Queen and Short land Streets, at. noon to-day, house and section at Hi Domain Drive. Parneil. Samuel Vaile and Sons, Limited, will offer at auction at its rooms, 83 Queen Street, at 'J p.m. to-day:—Concrete cottage of four rooms, ! it M Virginia Avenue, Eden Terrace; concrete residence let in four flats, at 10 Sylvan Avenue, Mount Eden; house of five rooms, at 16 Esplanade- Road; .villa ol six rooms at 8 Atherton Road, Epsom.