MONEY MARKET

New Zealand Herald, Volume LXXV, Issue 22949, 29 January 1938, Page 9

MONEY MARKET

BANK OF ENGLAND KETURN DECREASE IN DEPOSITS GOLD HOLDING STEADY LONDON, Jan. 27 The Bank of England return for the week ended January 26 is as follows: ISSUE DEPARTMENT Notes Issued:— » Govt.debt £11,000,000 In circu- Other Govt. lation £-173,200,000 securities 188,-100,000 In bank- Other secuing dept. 63,200,000 rities .. 600,000 *£200,000,000 Gold coin & bullion 320,400,000 £526,100,000 £520,400,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,500,000 Govt', socuRest .. 3,000.000 rities £08,000,000 Deposits— Advances Public .. 13,000,000 and othor Bankers & securities 20,400,000 other acs. 150,400,000 Notes .. 53,200,000 Gold anil silver coin 600,000 £182,100,000 £182,100,000 The principal items of the above return compare as follows with those for last week, the proportion of tho reserve being shown in tho last lino:— Deposits— Jan. 19 Jan. 20 Public .. £11,100,000 £13,600,000 Bankers .. 324,400,000 313,100,000 Othor Accounts 30,000,000 37,300,000 £ 172,400,000 £101,000,000 Securities— Government .. 101,400,000 08,000,000 Advances, etc. 12,1(00,000 30,400,000 Other .. 21,800,000 311,000,000 Reserve .. 51,300,000 53,800,000 Note circulation 475,700,000 473,200,000 Coin and bullion 327,000,000 327,000,000 Proportion . . 20.77 32.78 RATE OF DISCOUNT The Bank of England rate of discount ip 2 per cent, to which it was reduced on Juno 130, 19U2, from 2\ per cent. CONSOLS AND DOMINION STOCKS Tho following table gives quotations for consols and colonial inscribed stocks, compared with those of January 20:— Price Variation £sd s d Consols, 2% per cent 70 35 0 +ls 0 Fund. Loan, 4, 1000-00 314 0 0 Same War Loan, 3% .. 102 37 6 +7 G Conversion Loan, 3% .. 101 0 0 +3O 0 Victory Bonds, 4 . . 312 0 0 Same Com'wcalth, 5, 1015-75 107 12 G +2 G Com'wealth, 4, 1013-48 103 1 3 -Hi 3 Com'wealth, 3%, 1918-53 300 32 G +7 0 Com'wealth, 3%,1050-61 02 5 0 +6 3 Com'wealth, 3, 1055-58 80 10 0 Same N.S.W., 4%, 1035-45.. 08 0 0 +lO 0 Victorian, 3, 1020 40 .. 0-1 17 0 +5 0 Victorian, 4%, 1010-60 104 0 0 +2 G Victorian, 5, 1045-75 . . 107 31 3 +lO 0 Queensland, 3, 1022-47 05 18 0 +2 6 Queensland, 5, 3010-60 10G 10 0 +2 G S. Aus., 3. 1016 or after "8 15 0 t5 0 S. Aus., 5, 19-15-75 . . 107 30 O +5 0 W. Aus., 4, 3012-62 . . 301 0 0 +G 3 Tasmania, 3%, 3020-40 301 12 6 +2 6 Tasmania, 4, 3040-50 301 30 0 +2 G N. Zealand, 4%, 1018-58 101 37 6 +5 0 N. Zealand, 3%, 3040 301 5 0 +5 0 New Zealand, 3, 3015 07 5 0 +l2 0 FOREIGN EXCHANGES FLUCTUATIONS IN LONDON British Wireless RUGBY, Jan. 27 The following rates on foreign exchanges aro current, compared with the cabled quotations on January 26 and pur:— Jan. 27 Jan. 26 Par Montreal, dol. .. 5,(Xm 4.00% 4.866 New York, dol. 5.00% 4.00/1 4.8G Paris, fr. .. 154% 3 53% 105.00 Brussels, belga.. 20.02% 20.60% 35.00 Geneva;'fr. .. 21.(12# 21.0$ 25.22 Amsterdam, gr. 8.06% B.noV ls 32.10 Milan, lire .. 01%. 94"/« 02.00 Berlin, r.m. .. 32.42% 12.41 20.43 Stockholm, kr... 30.40 30.40 38.350 Copenhagen, kr 22.40 22.40 38.150 Oslo, kr. .. 10.00 10.00 38.350 Vienna, sch. .. 20% 26% 3-1.585 Prague, kr. .. 342% 342% 364.25 Belsingfors, mark 226% 226% 103.2.1 Madrid, pes. .. 551 r,!i K, Lisbon, cscu. .. e 112 Athens, dr. .. -547% 54 /A 375.00 Bucharest, lei... 677% 677% 813.6 Rio do Janeiro, m. 2 a 7 3a d* 2 a % a d* s.Bo'Jd Montevideo, dol. 24%d+ 24%dt 51 d Bombay, rupee.. 38% d 38% d 38d Shanghai, d 01... 14*A»d 34% # d Hongkong, dol. 35d 35d Yokohama, yen 14d 14d 24.58 d Batavia, gr. .. 8.05 8,05% 32.10 Belgrade, din... 216 210 276.31 Warsaw, zloty... 26.37 26.37 43.38 {Nominal. JMarket rate. 'Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted tho following dollar rates yesterday on a New Zealund currency basis, subject to alteration without notico: — Selling: States Canada T.T 4.01%. . 4.01%, On demand .. 4.01%# 4.01%« Buying: On demand .. 4.05% 4.05% Following aro 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. .. 4.0005 4.05-12 4.0135 Canada, dol. .. 4.010G 4.0551 4.014G Austria, sch. .. 20.95 Belgium, belga 23.693 24.078 23.704 Czeclio'vakia, cr. 113.5 L Denmark, kr. . 37.893 18.263 3 7.890 Franco, fr. .. 323.50 Gormany, r.m. 0.900 Holland, fl. .. 7.157 7.347 7.101 Italy, lire .. 76.17 Java fl. .. 7.133 7.323 7.137 Norway, kr. .. 35.802 30.242 35.808 Sweden, kr. .. 35.493 35.848 35.499 Switzerland, fr. 37.282 17.057 37.257 Noumea, fr. .. 122.25 Papeete, fr. 1 . . 122.30 N.Z. pence to — Hongkong, dol. 18 53-04 18 27-64 38 53-61 India, rupee .. 22 21-32 22 11-32 22 21-32 Ceylon, rupee . 22 21-32 22 .11-32 22 21-3'-Japan, yon .. 17A Shanghai, dol. 38 11 -61 Singapore, dol. 3513-64 34% 35 13-64 Chefoo, dol. .. 18 5-32 38 0-64 Manila, peso.. 30 5-04 20 27-64 30 5-G4 The cost in New Zealand currency of tho pound sterling, and of tho principal overseas units, on the latest quotations, is as follows: Present Price Par London, pound .. 24 10.G5 20 0.00 Australia, pound 10 10.81 20 0.00 Fiji, pound .. 22 5.66 20 0.00 New York, dollar .. 4 31.07 4 1.33 Montreal, dollar .. 4 31.68 4 3.31 Paris, franc. .. 0 1.03 0 2.28 Berlin, reichsmark.. 2 0.02 O 11.74 Copenhagen, krone.. 1 1.33 l 1.22 Yokohama, yon .. 1 6.41 2 0.58 CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure of vessels named are shown in tho following table: — Fernmoor, Belgium, belga .. .. 20.40 Cnnadian Constructor, Canada, dollars 4.09 Canadian Constructor, America, dollars 5.00 Piako, America, dollars .. .. 5.00 Piako, Canada, dollars . .. .. 5.00 fc'iingstad, Amsrica, dollars .. .. fi.OU Niagara, Canada, dollars .. .. 5.00 Niagara, America, dollars ~ .. 5.00 PRICES OF METALS AN EASIER TENDENCY . LONDON, Jan. 27 Following are to-day's quotations on the London metal market, compared with those of January 26: ' Jan. 27 Jan. 26 Per ton Per ton £sd £ s d Copper, etan., spot 30 0 4% 40 4 4% Copper, utan., 3 months .. 39 14 4% 40 8 0 Copper, electro. .. 43 10 0 44 0 0 to to 44 10 0 ,45 0 0 Copper, elect., wire bars 44 10 0 45 0 0 Lead, soft, spot ~ 1.5 11 3 15 14 4% Load, soft, forward 15 11 10% 15 16 10% Spelter, spot .. 14 11 10% 14 14 4% Spelter, forward .. 14 13 1% 14 10 4% Tin, stan., spot . . 178 18 9 181 5 0 Tin, stan., 8 mos. 170 12 fl 182 2 6,