THE MONEY MARKET

New Zealand Herald, Volume LXXIV, Issue 22819, 28 August 1937, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN INCREASE IN DEPOSITS SMALLER NOTE CIRCULATION j LONDON, August 26 The Bnnk of England return for the week ended. August 25 is as follows: — ISSUE DEPARTMENT Notes issued:— Govt.debt £11,000,000 In circu- Other Govt. lation £188,300,000 securities 188,300,000 In bank- Other secuing dept. 35,100,000 rities . . 7,000,000 *£200,000,000 Gold coin & bullion 320,400,000 £520,400,0001 £520,400,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,500,000 Govt, secuRest . . 3,000,000, rities £108,800,000 Deposits—• Advances Public .. 25,400,000 and other Bankers & securities 23,900,000 other acs. 128,800,000 Notes .. .38,100,000 , Gold and silver coin 1,500,000 £172,300,000 £172,300,000 The principal items of the above return compare as follows with those for last week, the proportion of the reserve being shown in ,the last line: — Deposits— Aug. 38 , Aug. 25 Public .. £28,600,000 £25,400,000 Bankers .. 88,500,000 92,800,000' Other Accounts 30,500,000 30,000,000 £153,600,000 £1*54,200,000 Securities— Government .. 107,100,000 108,800,000 Advances, etc. 0,200,000 4,300,000 Other .. 21,600,000 19,000,000 Reserve .. 30,800,000 39,600,000 Noto circulation 491,000,000 488,300,000 Coin and bullion 327,800,000 327,900,000 Proportion . . 23.90 25.07 RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent, to which it was reduced on 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 August 19:— Price Variation *£s d s d Consols, 2% p.c. .. 74 5 0 Same Fund. Loan, 4, 1900-00 310 30 0 Same War Loan, 3% .. 300 30 0 +5 0 Conversion Loan, 3% 99 10 0 -20 Ot Victory Bonds, 4 .. 107 5 0 -40 OJ Com'wealth, 5, 1945-75 108 0 0 +1 3 C'wealth. 3%, 1930-37 99 17 6 Same Com'wealth, 4, 19-13-48 303 7 6 +5 0 C'wealth, 1948-53 100 5 0 -2 0 C'wealth, 3%, 1056-01 90 30 0 +6 3 Com'wealth. 3. 3955-58 89 32 0 +1 3 N.S.W., . 4 ! A 3935-45 97 32 6 +32 6 Victorian, 3, 1029-49 94 2 6 +5 0 Victorian, 4%,'1940-60 103 2. 6 +2 0 Victorian, 5, 1945-75 108 0 0 +1 3 Queensland, 3, 1922-47 95 3 9 +3B 9 Queensland, 5, 1010-00 105 2 6 -0 3 S. Aust.. 3, 1916 or after 77 3 0 0 -2 G S. Aust., 5. 3915-75 307 17 0 -1 3 W. Anst., 4, 1912-62 101 10 0 +5 O Tasmania, 3%, 1920-40 301 7 6 +2 6 Tasmania, 4. 3910-50 301 13 9 -2 (t N.Z., 4%. 1918-58 . . 103 10 0 f7 6 N.Z., 3 Vs. 1910 .. 101 7 0 +3 9 N.Z., 3. 1915 • • 97 7 6 Same ♦Ex interest. FOREIGN EXCHANGES The following rates on foreign exchanges are current, compared with the cabled quotations on August 25 and

NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on a New Zealand currency basis, subject to alteration without notice: Scllta: DmWStato Can.da On demand .. 3.00"/ 18 3.09 u /„ Buying deman( j 4.03"/,» 4.04 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: —

The cost in New Zealand currency of tho pound sterling, and of the principal overseas units, on the latest quotations, is as follows: pr( , scnl p rjco p nT Australia P °pound !! 8 I 0.88 RH L" ;; 22 20 0.00 New York, dollar .. 4 1t.4 1.81 Montreal, dollar .. 4 11.0 4 1.31 Pjirm franc . • O -J..*'-! " Berlin, roichsmark . 2 0.00 0 11./4 Copenhagen, krono 1 1 o'' oris Yokohama, .von ..1 G.-ll i CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure ot vessels named are shown in tho following table: — Ardcnvolir. Canada, dollars .. .. 4-jW Ardcnvolir. America, dollars .. .. 4. 8 (Ics'ar. America, dollars .. .. 4. S Surrey. Canada, dollars .. •• 4.08 Surrey. America dollars .. •• 4.08 Svdne.v Maru, Japan, yon .. .. ] « Wairuna. America, dollars .. •• 4. 8 Port Brisbane, America, dollars .. 4. 8 Port Brisbane, Canada, dollars .. 4.00 n pig industry SUPERVISOR FOR NORTH [by telegraph—own correspondentl DARGAVILLE. Friday The chairman of, the newly-formed Northland Pig Council, Mr. H.„ K. Johnson, has announced that tho superintendent of pig husbandry, Mr. M. J. Scott, has authorised tho appointment of Mr. W. A. Beattie, of Tangiteroria, as supervisor of the pig industry for North Auckland. Mr. Beattie is well known in this district. Ho has been one of tho most successful exhibitors of pedigree pigs at northern shows in recent years, and ho has also taken a keen interest in the dairying industry.

par:— Aug. 20 Aug. 25 Par Montreal, dol. .. 4.08% 4.08% u 4.800 New York, dol. 4.08/ Jfl Paris, fr. .. 132 a /a2 4.OS 1 /, 132 u /ii> 4.80 105.00 Brussels, holga,. '-0.57 Geneva, fr. .. 21.00/4 20.50 35.00 21.70 25.22 Amsterdam, gr. 0.02/ s 0.03 12.10 Milan," liro .. 04 Berlin, r.m. .. 12.30 Stockholm, kr... 10.00/a ot'V,, 02.00 12.30% 19.00 % 20.43 18.150 Copenhagen, kr. 22.40 Oslo, kr. .. 10.00 Vienna, sch. .. 2(5/2 22.40 10.00 18.150 18.150 20% 34.585 Prague, kr. .. 142-4 Helsingfors, mark 220/a 142% 2211% 104.25 103.23 25.221 110 375.00 813.0 5.8»0d 51 d Madrid, pes. .. 6 *»t Lisbon, escu. .. 110/m Athens, dr. _ .. 547/ 2 55 ♦ 110%. 547% Bucharest, lei... 070 Rio de Janeiro, m. 0%d 070 4%d* Montevideo, dol. 30/id 30%d* Bombay, rupee.. 18%d 18%(1 18d Shanghai, dol... 14dt Hongkong, dol. 1-1 /ird f Yokohama, jcn 14 1-Olu 14d+ 14 ,6 / 16 d 14d 24.58d 12.10 270.31 43.38 Batavin, gr .. O.Ot Belgrade, din .. 21/ Warsaw, zloty.. 2<i.4 0.01 217 20.31 {Nominal. *Sellers.

To .CI N.Z. Currency U.S.A., dol. .. Canada, dol. .. T.T. Selling 3.0022 3.0033 On Demand Buying Selling 4.0303 3.0002 4.0107 3.0073 Austria, sch. .. . Belgium, bolita Czocho'vakia,.cr. iid.no 23.057 113.80 24.042 ZU.I'l 23.(i08 113.04 17.800 105.06 0.880 7.210 75.00 7.185 Denmark, kr. . France, fr. 17.803 105.02 18.203 108.52 Grrmany, rm, . TTolIand, fl0.884 7.200 7.390 Italy, liro 'Java, n. Norway, kr. .. Sweden, kr. .. 75.85 7.181: •Ta7t 35.802 15.400 10.242 15.845 , J 5.808 15.4 00 Switzerland, fr. 17.343 17.718 17.318 105.21 105.10 Noumea, fr. .. 105.17 110.37 Papeete, fr. 105.12 110.37 N.Z. pence tr— Hond'aonff, dol. Tndia. rupee .. Ceylon, rupee . 18 53-04 22 ~1 -32 22 21-32 18 23-04 22 11-32 2211-32 18 53-01 22 21 -32 22 21-32 17% .Tapan. yen . . Shanprhai, do . Sinptaporo. dol. Manila, peso .. 17Va —— 18 304 35 1304 30 17-04 34% 20 43 04 85 13-04 30 17-04