THE MONEY MARKET

New Zealand Herald, Volume LXXVI, Issue 23471, 7 October 1939, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN „ ... I. i t NOTE CIRCULATION LOWER PUBLIC DEPOSITS DECLINE p LONDON, Oct. 0 The Bank of England return for the week ended October 4 is as-follows: -■ ISSUE DEPARTMENT Notes issued:— Govt, debt £11,000.000In circu- Other Govt. lation 538,700,000 securities 005,700,000 In bank- Other secuingdept. 41,-100,000 rities .. J3, ICO,OOO- - coin> 200,000 *£580,000,000 Gold coin & bullion £580,100,000 £580,100,000 / •Amount of fiduciary issue. BANKING DEPARTMENT Capital .. £14,500,000 Govt, secuRest . . 3,700,000 rities £113.G00.000 Deposits— Advances Public . . 15,300,000 and other Bankers & securities 24,700,000 other acs. 140,000,000 Notes r .. 41,400,000 Gold and silver coin 700,000 £180,400,000 £180,400,000 The principal items of the above return compare as follows with those for last week, the proportion of the reserve : being shown in the last line:— j Deposits— Sept. 27 Oct. -4 Public .. £19,800,000 £15,300,000 Bankers .. 107,200,000 106,000,000 Other Accounts 40,500,000 40,900,000 £107,500,000 £162,200.000 Securities — • _ Government .. 120,300,000 113,600,000 'Advances, etc. 2,500,000 2.400,000 Other .. 23,000,000 22,300,000 Reserve .. 31»,000,000 42.100,000 Note circulation 541,800,000 538,700,000 Coin and bullion 800,000 Proportion .. 23.27 _o.O. RATE OF DISCOUNT.. . The Bank of England rate of discount is 3 per cent. It was increased on August 23, 1939, from'2 per cent to 4 per cent. • •Z'

, MINING NEWS , ! ————— } MARTHA CRUSHING RETURN j 359& OUNCES OF FINE GOLD 'j' „ - , ~— ■ , ' ■ { [by telegraph-—own correspondent] < WAIHI, Friday The following information has., been I cabled ,tQ the Loudon office of the Martha Gold Mining Company (Wailii), Limited: — _ : For the period ended September 23, 15,645 tons of ore were crushed- for a result of 3598 ounces of fine gold and ; 30,800 ounces of fine silver. The crush--.. ' ing time was 20 days. YIELDS OF COMPANIES Alexander Mines (Reefton). —September production: Battery department, 330 tons of ore crushed for 1250z. melted gold; cyanide department L3o tons of sands treated for 470z. bullion; estimated value at 160s an ounce, £1275; in addition, eight tons of concentrates were saved, valued a V Grev River (West Coast), from 72.433 yards in 105 liours. Total for September, ll<2oz. from 36b,1< J yards. _____ , * OPOSSUM SKINS SUCCESSFUL WELLINGTON SALE '• [I!Y TELEGRAPH —PRESS ASSOCIATION^ "WELLINGTON. Friday \ most successful sale of skins , was held in Wellington yesterday, <OOO skins , of all grades beinjr drawnfrom various ' Xortli Island districts. Lines from .Hie JYfAI -• incton Wairarapa and ansranui districts, predominated. There was rr a hn tot ®L r f n e e ra "as at remunerative prices. The offering: was orndpd out into trappers lots, each owners line beinu sold separately and undor spirited C °Some ll of' the realisations are:—loo .. rustv browns and blacks, from.Wairarapa,.• j 5s 5d- 125 from Wangnnui, »s 3d; 64 blues, grevs"' rnstv browns and blacks from Waira-r-ifvi 'id- 713 greys, rusty browns and blacks from Wairarapa, ss; 130 blues/greys, rMy browns and blacks from Wairarapa," J': ioj) .r re vs, rusty browns and blacks frn'm Wantraxiui. «>s; IGT blues, rusty browns, -revs and blacks from Wellington. 4s lid;, o.IS blues, rusty browns, greys and blacks from Wellington. -Is 4d. Other lines sold at - from 3s to -Is Od. WORLD* TIN STATISTICS ; LONDON, Oct. 40 The world statistical position of tia-r at the end of September compares mttt that of recent months as follows. June July Aug. S<?p. r j Tons Tons Tons lons I W 5W ,b, ?, a2 .77 4 22,031 20.335 21,705, J Straits carry- JG _ 7 3,774, M Supplies rc- 7,070 10,000. jW ceived .. 7.030 .10 259 5.033 fS&M Dolivcrics •• S.OOU