RESERVE BANK RETURN

New Zealand Herald, Volume LXXVI, Issue 23428, 18 August 1939, Page 5

RESERVE BANK RETURN

STERLING £280,165 HIGHER DECREASE IN LIABILITIES RATIO 28.026 PER CENT [BY TELEGRAPH —rKESS association] WELLINGTON, Thursday The Reserve Bank return for tho week ended Monday, August 14, was gazetted to-night. The statement is balanced at £31,305,159, or £118,732 less than at tho close of tho previous week, The sterling exchange reserve has increased to £5,431,119, or £280,165 moro than the level on the previous Monday. Notes and other demand liabilities are lower, in the aggregate, by £56,888 than the total of the week before, a riso of £418,956 in the level of trading bank doposits being more than offset by decreases in tho other classes. The ratio has increased from 26.795 per cent to 28.026 per cent. * Advances to the Primary Products Marketing Department aro lower by £263,412, while thoso for other purposes remain unchanged at £13,250,000. Tho statement, with variations compared with the week before, is as follows: ■ „ - liabilities Variation ~ ' £ Gen. reserve .. 1,500,000 Same Bank notos - .. 15,530,034 -50,503 Domand liabilities— State . . . . 2.200,000 -308.302 Banks .. .. 11,102,300 +418,050 Other 303,201 -110.010 Oilier currencies .. 0,42!) -05,003 Other liabilities ... 440,070 +1,059 Total .;. 31,305,150 -118.732 / ASSETS ' Reserve—

Gold .. ... 2,501,830 Same Sterling Ex. .. 5,131,110 +280,1(35 Subsidiary coin .. 237,274 +10.35G Advances— Marketing .. 5,720,539 -2G3.412 Other .. .. 13,250,000 Same ' Investment .. 3,770,250 +28.83G Other assets .. 94,138 -174.G77 Total .."i1,305,159 - -118,732 Proportion of reserve to notes and other demand liabilities, 28.026 per cent (26.795 last week). v The principal items in this week's return are compared with those in the statement at the corresponding date last year in tho following table; — (000's omitted) 1930 ID3S Variation £ £ £ Notes .. 15,531 13.58G 4-1.945 Deposits— State .. 2,266 4,541 -2,185 Banks .. 11.192 6,332 +4.8G0 Exchango .. 5,431 14,634 -9,203 Advances — Produce .. 5,721 3.288 +2.433 Other . . 13.250 2,600 +10.G50 Ratio (per cent) 28.026 70.378 -42.352 WHANGAREI PORT WORK

LESS MERCHANDISE HANDLED RAIL COMPETITION BLAMED [from our own correspondent] WHANGAREI, Thursday An increase in exports of 2000 tons during July, compared with tlio same month last year, was shown in the returns of shipping to the port, prosented at a meeting of tho Whangarei Harbour Board to-day. The exports were 12,813 tons, of which 12,327 tons were cement. The imports showed a decline owing to the decrease in 'tho quantity of coal brought into tho district now that the Hikurangi mine is again producing.

It was stated at tho meeting that the declino of ordinary merchandise handled was due largely to the competition of the railway truck system. The board decided to point this out to tho Minister of Transport, and to ask when the report of the transport co-ordina-tion committee, that inquired into tho position in North Auckland would bo available. SHORT LOANS AND BILLS LONDON DISCOUNT RATES LONDON, Aug. 16 Discount and short loan rates on the London market, compared with those of last week, are as follows: — Aug. 9 Aug. 16 , p.c. p.c. Day-to-day loans .. Vi % Fine trade bills (3 mos.) 3to 3Va 3to 3Vi Bank bills (3 months) .. U / JB 11 /ia Bank bills (6 months) .. 3% 1% Treasury bills (2 months % Treasury bills (3 months) % "/« INDUSTRIAL ACTIVITY BOARD OF TRADE INDEX (Received August 17, 5.5 p.m.) British Wireless LONDON, Aug. 16 The Board of Trnde index of industrial activity in the .United Kingdom in tho second quarter of this year shows an increase of 1.8 per cent over the March quarter nnd 9.6 per cent over tho June quarter, 1938. The Juno quarter index of 133.4 per cent was substantially the same as for tho Juno quarter in 1937, which has been exceeded only by the December quarter of that year, when the index stood at 136.4,

WAIRAKEI, LIMITED ADDITION •TO BUILDING "Yorv little capital expenditure was incurred during the year, hut a contract was recently let for the. erection of a further wing," said Mr.. J. A. Gentles, chairman of directors or Wairakei, Limited, at the annual meeting yesterday. This would ho completed by the end of October. The company's fixed assets had been well maintained and wore in excellent order. A new water raco at the Huka Falls was used during the past dry summor season. The report and balance-sheet, published in the Herat,n on August 7, were adopted. The retiring directors, Messrs. *P. E. Cleave and S. Thome George, were re-elected. RODNEY LIME COMPANY The Rodney Lime Compnny, Limited, reports a net profit of £OS for the year ended .Tune .10, against £B7 a year ago. The directors propose an unchanged dividend of 7$ per cent, They report that there was an increase in -the demand for lime during tho year, the output, which was tho highest since 1934-35, rising to 1961. tons, oomparedMvith 1501 tons in tho previous year. PROPERTY AUCTIONS % ; i Ca F. Bonnett, Limited, will offer at miction nt its rooms, Blackett's Bulldinors. Queen Street, at noon to-day, residence of 10 rooms at, 5 Upland Bond, Remurra; and residence of 7 rooms at 10 Franklin Bond, Ponsonhy. Samuel Vaile and Sons, Limited, will offer at its rooms, 83 Queen Street, at 2 p.m. today, city freehold with frontages to Fanshawa Street, Hardinge Street, and Graham Street, with four old cottages and iron shed; house of 5 rooms at 72 King George Avenue, JSpsom; and house of 5 rooms at 11 Asbton Road, off Valley Road, Mount Eden.