RESERVE BANK RETURN

New Zealand Herald, Volume LXXV, Issue 22972, 25 February 1938, Page 7

RESERVE BANK RETURN

HIGHER STATE DEPOSITS INCREASE OF £548,000 EXCHANGE RISES BY £210,400 [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, February 21, was gazetted to-night. The statement is balanced at £30,129,651, or £288,584 more than at the close of the previous week. Government deposits have increased ,by £548,170, compared with the total a, week before, while the holdings of the trading banks are £188,450 lower. The note issue continues to fall, being £177,637 lower than on the previous Monday. Other demand liabilities are £105,113 higher. A further increase, of £210,415, Ims occurred in tho value of the sterling exchange reserve. Advances to the Dairy industry Account are £22,389 higher, while other assets have risen by £46,047. Tho statement, with variations compared with tho week before, is as follows: LIABILITIES Variation £ £ 1. Gen. reserve . 1,500,000 Same 2. Bank notes .. 13,780,755 -177,037 3. Demand liabilities—(a) State .. 4,023,408 +548,170 (b) Banks . . 0,374,208 -188,450 (c) Other .. 347,772 +105,113 6. Other liabilities 104,388 +1,388 Total 30,120,051 +288,584 ASSETS 7. Reserve—(a) Gold .. 2,801,701 Same (b) Sterling Ex. 10,072,001 +210,415 8. Subsidiary coin 217,470 -320 10. Advances—1. Dairy Industry Account .. 0,250,131 +22,380 2. For other purposes .. 1,100,000 Same 11. Investment .. 2,050,004 +10,002 13. Other assets .. 118,055 +40,0-17 Total .. 30,120,051 +288,584 Proportion of reserve to notes and other demand liabilities, 68.486 per cent (68.438 last week). ,

MILNE AND CHOYCE INTERIM DIVIDENDS ORDINARY RATE HIGHER Interim dividends have been announced by Milne and Choyce, Limited, for the half-year ended January 31 as follows: —Preference shares, 6 per cent per annum; B preference, 7 per cent per annum; ordinary shares and debenture stock, o per cent per annumPayment will be made on April 9. The preference rato is unaltered, but the distribution on ordinary shares and debenture stock of 2£ per cent compares with an interim payment of 2 per cent last .year when the full year's distribution was 5 per cent. WOOLWORTIIS' PROFIT 15 PER CENT FOR YEAR ONE BONUS SHARE FOR FIVE The directors of Woolworths, Limited, Sydney, advised the Auckland Stock Exchange yesterday that the net profit for the year ended January 31, after _ providing for taxation, was £217,717. The directors have recommended a final dividend of 9 per cent and also a bonus issue of one fully paid share of 5s for every five shares held. The profit is a record one and compares with £172,341 in 1937 and £147,550 in 1936. The final dividend brings tlio year's distribution up to 15 per cent, three quarterly dividends of 2 per cent having been paid previously. The paid capital of the company is £1,203,332, in which there aro> 3,713,328 ordinary shares of 5s each in addition to £275,000 preference capital. SHORT LOANS AND BILLS s t LONDON DISCOUNT RATES LONDON, Feb. 23 Discount and short loan rates on the London market are the same as those for last week, as follows: — Feb. 10 Feb. 23 p.c. p.c. Day-to-day loans .. % % Fine trade bills (3 mos.) 2 to 2% 2 to 2% Bank bills (3 mos.) .. %» Bank bills (0 mos.) .. •/,, V, B Treasury bills (2 months) % % Treasury bills (3 months) % %

GOLD AND SILVER QUOTATIONS IN LONDON LONDON, Feb. 23 Fine gold is quoted to-day at £6 19s 10jd an oz., compared with £6 19s 9Jd yesterday. Silver is quoted nt 20Jd an oz. spot, and 19 ]5-16d forward, compared with 20Sd and 19Jd yesterday. The quotation for silver at per fine 07.. is 2]|d, compared with 21 11-16 d yesterday. BASE METALS FIRMER TIN £l9O/7/6 A TON LONDON, Feb. 23 Following are to-day's quotations on the London metal market compared with those of February 22. Feb. 23 Feb. 22 Per ton Per ton Si s (1 A' s (I Copper, still)., spot -12 4 4'/ 2 -11 8 1 % Copper, st., 3 mos. 42 (I IOVi 41 .11 10A Copper, electrolytic 45 10 0 45 ft 0 to to 40 10 0 40 0 0 Copper, elect., wire burs .. 40 10 0 4(1 0 0 Lead, soft, spot .. 10 3 1A Ift 10 10 a Lead, soft, forward 10 4 4,415 18 l/ a Spelter, spot .. 15 8 IAI4 10 10 Spelter, forward 15 0 „ Tin, stan., spot, .. 1»>0 7 o 180 o Tin, stan., 3 iriOvS. 100 2 G 180 1- 0 NEW YORK CALL MONEY NEW YORK, Feb. 23 Call money is still quoted at 1 per cent. CALL AND DIVIDEND LIST

Dividends— , , no Winchcombe Carson—lnt., 4 p.c. Feb. 08 ArptO—ld a share . .. •• 1)60. JH Bitt River—No. 1. Ida share .. Mar. 1 Elder. Smith—ord.i lot.. 7 p.c, . Mar. I .Oknrito—7 D.C. . . • • • • MlM\ 1 Carlton Byewery—final 7Vi p.c. Mar. 1. Paddy's Point—3d a share .. Mar. 1 M.K. Millinery—final. 8 p.c. . . Mar. J Standard Insurance —int.,-3s 3d . a share .. , • • •• Mar. 7 W. R. Carpenter—int., 10 p.c. pa .. • • • • Mar. 15 Electrolytic Zinc—ord and prof. int.. Up.c. . . .. • • Mar. 1 , Broken Hill South—int. Od a ' shaie . Mar - 18 Huddart-Parker —final, pref., .1 p.c.; ore!., 0 p.c Mar. 10 Milne and Choyce—int., prcf., 0 p.c. p.a.j B prof.. 7 P.c. p.a.; ord. and deb., 5 p.c. p.a. .. Apl. »

Calls— Farmers' Tradinsr —third. 2s a share . . . • • •• Mar. 5 Golden Crown—con., fifth. 3d a share • • Mar. 10 Broken Hill Pty.—new, Gs a share . Mar, 31 Burns-Phllp—new, 8s a share (making 10s paid) . • Apl. 1