THE MONEY MARKET

New Zealand Herald, Volume LXXVI, Issue 23275, 18 February 1939, Page 9

THE MONEY MARKET

BANK OF ENGLAND RETURN INCREASE IN DEPOSITS GOLD HOLDING STEADY LONDON, Feb. 16 The Bank of England return for the week ended February 15 is as follows: — ISSUE DEPARTMENT Notes IssuedGovt, debt £11,000,000 In circu- Other Govt. lation £473.200.000 securities 388.000.000 In Bank- Other seeming dept. 53,200.000 rities . . Silver coin 400,000 *£400,000,000 Gold coin & bullion 120,400,000 £526,400,000 £526,400.000 'Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,500,000 Govt, secuRest .. 3,000,000 rities £82,500.000 Deposits— Advances Pub ic 12,500,000 and other Hankers & securities 40,000,000 other acs. 140.100,000 Note's .. 53,200,000 Gold and silver coin 1,000,000 £176,700,000 £17G,700,000 The principal items-of the above return compare as follows with those for last weok, the proportion of the reserve being shown in the last line:—Deposits— Feb. 8 Feb. 16 Public ... £15,400,000 £12,500,000 Bankers .. 103,000,000 110,000,000 Other Accounts 35,500,000 35,500,000 £151,800,000 £158,000,000 Securities— Government .. 77,000,000 82,500,000 Advances, etc. 20,000,000 18,100,000 • Other 22,100,000 21,000,000 Reserve . . 52,300,000 51,200,000 Note circulation 475,000,000 473,200,000 Coin and bullion 127,300.000 127,100,000 Proportion 33.70 34.10 RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent, to which it was reduced on Juno 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 February 9: — Price Variation

FOREIGN EXCHANGES STERLING RATHER WEAKER British Wireless LONDON, Feb. 16 The following rates on foreign exchanges are current, compared with the cabled quotations yesterday and par:

tNonrinal. NEW ZEALAND QUOTATIONS Tho Associated Banks (other than the Bank of New South Wale 6) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without notice: — Selling: * United States Canada T.T. . 3.72 7 / la 3.74%. On demand . 3.72% 3.74% Buying: On demand .. 3.78% 3.S0 1 / Following are the latest rates for pur chases 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

The cost in New Zealand currency of the pound sterling, and of tho principal overseas units, on tho latest quotations is as follows: — Present Price Par

CUSTOMS EXCHANGE RATES Finally declared rates of exchange ruling at the date of departure of vessels named are shown in the following table: — Kaimata. Canada, dollars .. .. 4.71 Kaimata America dollars .. 4.07 BRADFORD MARKET SMALL BUSINESS REPORTED LONDON, Feb. 10 On the Bradford market topmakers and importers have adopted a firmer attitude with the primary markets and business is small. Following are to-day's quotations and those of recent weeks: Jan. 2G Feb. 2 Feb. 9 Feb. 16 per lb. per lb. per lb. per lb. d d d d

SUBSTITUTE FOR WOOL GERMAN MANUFACTURE BERLIN, Feb. 16 A wool expert. Heir Wevchard't, reports the manufacture of a new cellulose substitute for wool. It is waterproof and is impervious to oils, acids and dirt. It can be cleaned without chemicals.

Consols, 1V 2 per cent £ 3 d s d 69 10 0 -15 0 Fund. Loan, 4, '60-90 107 10 0 -8 9 6 War Loan, 3V 3 , 1052 97 0 0 -12 Conver. Loan, 3'/ 3 , '61 Victory Bonds, 4 .. Com'wealth, 5, '45-75 97 10 0 -13 9 107 5 0 -5 0 103 0 0 +6 3 Com'wealth, 4, '43-48 100 5 0 _o 6 Com'wealth, 3%, '48-53 Com'wealth, 3y 4 , '56-01 91 12 6 -1 3 84 15 0 +1 3 Com'wealth, 3, '55-58 S3 15 0 +6 3 N.S.W., 3 l /„ 1930-50 92 0 0 -3 9 Victorian, 3, 1920-49 90 6 3 -1 3 Victorian, 4 3 /, 1940-00 100 10 0 +22 0 Victorian. 5, 1045-75 102 15 0 +2 6 Queensland, 3, 1922-47 92 0 0 4-15 0 Queensland, 5, 1940-60 102 5 0 _o 0 S. Aust., 3.'10 or after S. Australia, 5, '15-75 72 0 0 -t-5 0 102 15 0 +5 0 W. Aust., 4, 1942-62 97 2 6 -5 0 Tasmania, 3V4, '20-40 100 7 6 Same Tasmania, 4, 1010-50 98 2 6 4*2 0 K.Z.. 1%, 1918-58 94 0 0 + 10 0 N.Z., 3'/ a , 1910 09 10 0 -1 3 N.Z.. 3, 1945 80 15 0 ' + 10 0

Feb. 10 Feb. 15 Par Montreal, dol. . 4.70 V. 4.70% 4.860 Xew York, dol. 4.08V JO 4.OH 1 Vie 4.86 Paris, fr. 176 31 / 33 177 170.00 Brussels, belga, 27.77 27.78% 35.00 Geneva, fr. 20.03 20.63 25.22 Amsterdam, gr. 8.73% 8.72% 12.10 Milan, lire so%. SO Vie 02.00 Berlin, r.m. Stockholm, kr... 11.HIV, 11.08 20.43 19.49 19.49 18.159 Copenhagen, kr. Oslo, kr. 22.40 10.90 22.40 19.00 18.159 18.159 Prague, kr. 137 137 104.25 Helsingfors, mark 220% 220% 193.23 Madrid, pes. 1 t 25.221 Lisbon, escu. .. i\ov. 110% 110 Athens, dr. 547% 547% 375.00 Bucharest, lei... 600 000 813.6 Rio de Janeiro, m. 3 l / lt d 3/iod 5.899d Buenos Aires, pes. 20.34% 20.34% 11.45 Montevideo, dol. 18%d 18%d 51d Bombay, rupee. 17"/ 18 d 17"/, ed 18d Shanghai, dol.. . Iionfrkonpr, dol. + 14 ls /ied t 14"/ 1# d z Yokohama, yen 14d 14d 24.5Sd Batavia, gr. 8.71 8.70 12.10 Belgrade, din... 200 209 276.31 Warsaw, zloty. . 24.81 24.81 43.38

Currency Selling Buying Selling U.S.A., dol. 3.7331) 3.7823 3.7349 Canada, dol. ., 3.7540 3.8030 3.7559 Belgium, belga . •22.121 22.506 22.120 Czecho'vakia, cr. 108.00 — 108.11 Denmark, kr. . . 17.830 18.200 17.832 Finland. Fin. ms. 178.99 1S5.19 170.09 Franco, fr 140.05 — 140.67 Germany, r.m. . 9.271 — 0.273 Greece, drachmae 429.20 — 420.35 Holland, fl. .. 6.017 7.137 6.0-10 Italy, lire 71.064 — 71.089 Java, fl. 6.923 7.113 6.925 Norway, kr. .. 15.838 16.188 15.841 Noumea, fr. .. 138.90 — 138.04 Papeete, fr. 139.05 — 130.09 Sweden, kr. .. 15.454 15.800 15.457 Switzerland, fr.. 16.427 16.797 16.430 N.Z pence to— i 18 13-32 18 13-16 Hongkong. dol 18 13-1H India, rupee 22 41-61 22 3-64 22 41-61 Ceylon, rupee 22 41-64 22 3-04 22 41-64 Japan, yen 17 37-04 — 17 37-04 Manila peso Nominal Shanghai dol Nominal 36 Singapore, dot 35 34 27-64

I.nnrfnn nrmtirl 2 5 0.00 JO 0.00 A ustra.lia, pound 3 0 11.88 20 0.00 F iji pound .. i o 6.06 20 0.00 N ew York, dollar . • 5 4.03 4 1.31 ontreal. dollar • • 5 3.72 4 . 1.31 p ar i s franc • • 0 1.00 0 1.31 erlin, roichsmark . • o 1.09 0 11.74 c openhaKen, krone .. 1 1.39 1 1.22 Y okohama. yen . . • 1 5.50 2 0.5S

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