THE MONEY MARKET

New Zealand Herald, Volume LXXV, Issue 23085, 9 July 1938, Page 11

THE MONEY MARKET

BANK OF ENGLAND RETURN DECREASE IN DEPOSITS GOLD HOLDING STEADY LONDON, July 7 The Bank of Knglaud return for the week ended July (i is as follows: IBH UE DEPA HTMENT Notes Issued:— Govt. debt ti1,000,000 In eircu- Other Govt, lation £188,200,000 Mociirities 18!),000,000 la bank- Other sealing dept. 38,200,000 rities .. Silver coin —• * V 200,000,000 (■old coin & bullion 320,400,000 £520,400,000 £520,400,000 •Amount of fiduciary issue. BAN KING DEPARTMENT Capital . . £ 14,500,000 Govt, secuRest . . 3,400,000 rities £111,000,000 Deposits— Advances Public 12,000,000 and other Bankers securities 31,100,000 other acs. 151,700,000 Notes .. 38,200,000 Gold and silver coin 1,000,000 £ 182,200,000 £182,200,000 The principal items of tho above return compare as follows with thoso for last week, the proportion of the reserve being shown in the last line: — Deposits— June 20 July 0 Public. .. £10,500,000 £ 12,000,000 Bankers. .. 125,500,000 115,700,000 Other Accounts 30,100,000 30,000,000 £ 172,100,000 £104,300,000 Securities— Government . . 110,500,000 111,000,000 Advances, etc 7,1)00,000 10,700,000 Other .. 21,100,000 20,4Q0,000 Reserve . . 12,100,000 30,200,000 Nolo circulation 485,200,000 488,200,000 ! Coin and bullion 327,300,000 327,400,000 Proportion . . 21.40 23.85 RATE OF DISCOUNT Tho Bank of England rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2J per cent. CONSOLS AND DOMINION STOCKS Tho following tablo gives quotations for consols and colonial inscribed stocks, compared with thoso of June 30: — Price Variation £ s d s <1 Consols, 2/2 per cent 70 10 0 +4O 0 Fund. Loan, 4, 1000-00 11 1 10 o +2O 0 War Loan, 3Vi, 1052 103 12 0 +32 0 Corn er. Loan, ti'A, 1001 104 5 0 +35 O Victory Bonds, 1 .. 112 10 0 +2O 0 Coin'wealth, 5, '45-75 105 10 0 +l3 0 Oom'wealUl, 4, '43-48 101 17 0 +lO 0 Coin'wonlth, U%, '4B-53 01) 5 0 +lB () Com'wealth, 3%, 'SO-01 00 15 O +2O 0 Com'wealth. 3, '55-58 88 15 0 +ll 3 N.S.W., 3/j, 1030-50 00 13 0 +lO 3 Victorian, 3, 1020-411 03 10 0 +7 (i Victorian, 4%. 1040-00 101 17 0 +3 0 Victorian, 5, 1045-75 105 7 0 +l2 0 Queensland, 3, 1022-17 05 5 0 +l2 6 Queensland, 5, 1040-00 104 0 0 +5 0 8. Australia, 3, 1010, or after . . . .75 13 !) +0 3 S. Australia. 5, '45-75 105 2 0 +7 (5 W. Australia, 4, '42-02 100 7 0 +lO 0 Tasmania, 3Y a , 1020-40 lot 0 0 Same Tasmania, 4, 1010-50 100 10 0 +7 0 N. Zealand, 4'A, '4B-58 101 12 0 +27 0 N. Zealand. ti'A. 1010 00 15 0 +2l 3 N. Zealand. 3, 1015 . 03 10 0 +27 0

FOREIGN EXCHANGES STERLING WEAKER AGAIN British Wireless RUGBY, July 7 The following rates on foreign exchanges arc current, compared with the cabled quotations on July 6 and par:— July 7 July 6 Par Montreal, dol. . . 1.97% 4.08 4.800 New York, dol. 4.03% 4.91% 4.80 Paris, fr. .. 177% l 7 170.00 Brussels, belga. . 20.13% 20.18 35.00 Geneva, fr. .. 21.00 21.02 25.22 Amsterdam, gr. 8.05% 8.00% 12.10 Milan, lire . . 03% 03"/ la 02.00 Berlin, r.in. . . 12.28 12.20% 20.43 Stockholm, kr... 10.30'/, 10.39% 18.159 Copenhagen, kr. 22.40 22.40 18.150 Oslo. kr. .. 10.00 10.00 18.150 Vienna, sch. .. 20%t 20%t 34.585 Prague, kr. .. 112% 142% 104.25 ITelsingfors, mark 220% 220% 103.28 Madrid, pes. . . 55+ 551 25.221 Lisbon, escu. . 110%„ 110%, 110 1 Athens, dr. . 517% 547% 375.00 Bucharest, lei... <>72% 072% 813.0 Kio do Janeiro, m. 2 1 % 8 d" 2 l % o d* 5.809 d Buenos Aires, lies. 10.00% 18.00% 11.45 Montevideo, dol. '2o'Ad 20% d 51d Bombay, rupee. . 1 17 a % a d 18d Shanghai, d 01... B%d B%d —• Hongkong, dol. 15d 15d Yokohama, yen lid lid 24.58 d Batavia, gr. . . 8.01% 8.01% 12.10 Belgrade, din.. . 217 217 270.31 Warsaw, zloty. . 20.25 20,31 <13.38 INominal. "Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of Now South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without n6tice: — Selling: United States Canada T.T 3.05 9 /,» 3.08% On demand .. 3.00 3.09 Buying: On demand . . 3.00% 4.03 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.CIN.Z. T.T. On Demand Currency Selling Buying Soiling U.S.A., dol. .. 3.0553 3.0008 3.0503 Canada, dol. . . 3.0803 4.0308 3.0003 Belgium, bclga 23.302 23.087 23.313 Czecho'vakia, cr. 113.77 Denmark, kr. . 17.803 18.203 17.800 Finland, Fin. ms. 170.03 185.83 170.73 France, fr. . . 141.00 145.40 141.04 Germany, r.m. . 0.703 Greece, drachmas 420.54 Holland, fl. .. 7.148 7.338 7.152 Italy, lire .. 75.85 Java, fl. .. 7.120 7.310 7.133 Norway, kr. .. 15.802 10.242 15.898 Noumea, fr. .. 140.15 147.40 140.19 Papeete, fr. .. 140.30 147.30 140.34 Sweden, kr. .. 15.459 15.844 15.405 Switzerland, fr. 17.203 17.038 17.208 N.Z. ponco to— Chcfoo, dol. .. Nominal Hongkong, dol. 18,25-32 18% 18 28-32 India, rupee . . 22 25-04 22 5-04 22 25-01 Ceylon, rupee . 22 25-04 22 5-G4 22 25-64 Japan, yen .. 17 0-10 Manila, peso . 30 3-10 2010-32 30 3-10 Shanghai, dol. Nominal Singapore, dol. 351-04 34 7-10 351-64 The cost in New Zealand currency of tho pound sterling, and of the principal overseas units, on the latest quotations, is as follows:

Present Price Par s d s d .London, pound .. 24 1 0.05 20 0.00 Australia, pound .. 10 10.81 20 0.00 Fiji pound . .. 22. fi.oo 20 0.00 New York, dollar .. fi 0.48 4 1.31 Montreal, dollar .. 5 0.03 4 1.31 Paris, franc . .. 0 3.08 0 1.34 Berlin, reichsmark . 2 0.31 0 11.74 Copenhagen, krone 1 1.32 1 1.22 Yokohama, yen .. 1 5.41 2 0.58 CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure of vessels named are shown in the following table:— Wairuna, Canada, dollars . . . . fi.oo Wairuna, America, dollars .. .. 4.07 Anhalt, Aiticrii-a, dollars .. .. 4.00 Canadian Constructor, Canada, dollars. 5.01 Canadian Constructor, America, dollars 4.07 City of Bagdad, Canada, dollars .. 6.O'J City of Bagdad, America, dollars .. 400 ALLOTMENT REACHED TODD MOTORS CORPORATION Jt is announced that on June 29, Todd Motors Corporation, Limited, wont to allotment. Of the total of 250,000 shares, there are stated to bo now less than 100,000 still available for subscription. WHEAT, FLOUR AND SUGAR LONDON, July 7 Wheat cargoes are firm, but parcels are irregular. Futures: —London: August, 33s 3d a quarter; November, 28s -Id. Liverpool: July, Gs 3 7-8 d a cental; October, 5s Od; December, 5s 72d. Spot trade quiet. Australian ex ship,* 33s 3d to 355. Flour quiet. Australian ex store, 24s 6d to 2os. Raw sugar, beetroot basis, 5s OJd.