THE MONEY MARKET

New Zealand Herald, Volume LXXVI, Issue 23542, 30 December 1939, Page 3

THE MONEY MARKET

BANK OF ENGLAND BETURN DEPOSITS AGAIN HIGHER NOTE ISSUE EXPANSION (Bcceived December •_>!•, 5.5 p.m.) LONDON. Dec. 2S The Bank of England return for the week ended December 27 is as follows: — ISS UE DEPARTMENT Notes issued : Govt, debt £ 11,000,000 In circu- Other Govt. hit ion 551,000,000 securities 505,300,000 In bank- Other scaling dept. 25,000,0U1J rities .. 3,000,000 Silver coin 700,000 '£ 580,000,000 Gold coin & bullion 200,000 £580,200,00(1 £580,200,000 •Amount of fiduciary issue. BANKING DEPA It'L'MENT Capital .. £1 -1,500,000 Govt, secuKcst .. 3,-100,000 rities £351,400,000 Deposits— Advances Public . . 20,700,000 and other Bankers & securities 28,000,000 other acs. 100,300,000 Notes .. 25.G00.000 Uoi.l and silver coin 3,000,000 £200,000,000 £200,000,000 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: — Deposits— Dec. '-!7 Dec. 20 Public . . £20,700,000 £31,500,000 Bankers .. H7,3OO,()o0 .11-1,000,000 Other Accounts -12,000,000 40,-100,000 £ 180,000,000 £ 180,800,000 Securities — Government .. 151,100,000 3.45,'200,000 Advances, etc. -1,300,000 5,400,000 Other .. 12,000,000 28,000,000 Reserve .. •j<i,i;oo,ooo 20,000,000 Xote circulation .■>."> J,<>oo,ooo 50 - J,300,000 Coin and bullion 3,200.000 3,300,000 Proportion .. 11.03 15.23 RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent. It was reduced on September 21 from 4. per cent to 3 per cent and 011 October 20 to the current rate. CONSOLS AND DOMINION STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of December 22: Price Variation Csd s d Consols, 2/a p.c. . . 08 7 0 -27 (! Fund. Loan, 4, .1000-00 300 37 0 +37 0 War Loan, 3'i, 33)52 . 03 30 0 +37 (> Conv. Loan, 3 1 / a, pjiil 04 2 0 +2O 0 Victory Bonds, 1 100 2 (i +l7 (> Com'wealth, 5, 1015-75 302 2 (i +2 0 Com'wealth, 4, 3033-18 0!) 35 0 -f2 0 Coin'wenlth, 3 3 4, 3018-53 0 1 7 1! +7 (i Com'wealth, 3%, 1050-01 8 1 7 (! +7 (> Com'wealth, 3, 1055-58 83 5 0 +7 0 N.S.W., 3 Va, 1030-50 . 03 5 0 +2 I! Victorian, 3, 1020-40 oi 30 0 Same Victorian, I'j, IOKI-iiO 100 2 0 -7 (! Victorian, 5, 1015-75 101 15 0 +5 0 Queensland, 3, 1022-17 02 10 o Same Queensland, 5, 1010-tiO 100 10 O i: S. Aust., a, UUO or after <>!) O O • -t-1 "> O S. Aust., 0, 3015-75 . . 301 35 0 Samo W.. Aust., 4. .1012-02 00 2 0 +32 0 Tasmania, 3'/ 3 , 1020-40 300 O 0- Same Tasmania, *4. 10-10-50 . 08 0 0 -5 0 N.Z., 4Vi, 1018-58 -.. 08 1 3 +3 3 N.Z., 3, 3045 . . . 03 0 0 +lO 0 The New Zealand 3010 314 per cent loan has been paid off. THE CITY MARKETS LOCAL APPLES IN DEMAND HEAVY VEGETABLE SUPPLIES There was a good demand for new season's local cooking apples at the City Markets yesterday. Both hothouse and outdoor tomatoes realised good .values for nrime fruit. Extra choice peaches sold at very high rates. An extra large quantity of plums came forward and values were low for poor fruit, a few lines being hard to quit. Strawberry prices were firmer. High values were obtained for very choice quality cherries. Supplies of peas and beans wore very heavy, with very little demand, and prices were much lower. There were largo quantities of most vegetables. Prices were: FRUIT Apples, cookers, new season's, Os to 33s a case; Tasma, 12s to 38s; tomatoes, outdoor, extra choice, 7d to Od per lb; others, 2d to Od; hothouse, choice, firm, Od to Iliad; others, 4d to 8d; bananas, original ripe, 22s t0.20s a case; snipes, hothouse, Hamburg, 2s Od per lb; Californiati, red, 30s a case; peaches, Hawke's Bay, 18s to 22s Od; local dessert, tliree-tray crate, 30s lo 13s a crate; cases. 6s to 12s a case; plums, Christmas. 2s (id to 3s; Sharp's Early, 2s (Id to 3s; dessert, others, 2s to ssj apricots, Thames, 8s to 10s; othefs, 32s to 18s; strawberries. Captain Cook, extra choice, 3s Sd to 3s lOd a chip; others, Is.fid to 3s (Id; Marguerite, extra choice, Is 3d to Is Sd; loganberries, 3.3d to 3s; black currants, 30s 0(1 a case; red currants. 3s Od a tin; cherries, extra choice, 38s to 22s Gd a case; others, 30s to 15s. FIELD PRODUCE Beet. 3s Od to 2s Od a dozen; beans, broad, Js (id to 2s a bag; French, Is to 3s a case; or 3s to Os a bap; carrots, 7s lo 3rts; or Is Od a dozen; cauliflower, (>.? to 30s a sack; on benches. 2s to -Is a dozen; cabbage, 2s to 5s a sack; on benches. 3s to 2s a dozen; cucumbers, 2s to 5s fid; green peas, 2s (id to (Is Od a bag; kumaras, Island, 8s to I.os per rwt; leeks, 3d to (id a bundle; lettuce, Is (id to 4s a case; marrows, 2s (id to 4s a dozen; onions, new season's, green. '.l.'/ad to 2d per lb; Canadian. 25s a cntal; potatoes, is 3d to 5s Od a bap; pumpkins, new season's, Red Warren. 2d to 3lid per lb; parsnips, 3s (id to (is a bap; or 3s 3d lo Is Od a dozen; radish, Od to 3s Od; rhubarb, 2s Od to Is; spinach. Od to Is (id; spring onions, 3s 3d to 2s a bundle; swedes, .'ls to 5s a bap; turnips, (id to Od a dozen. POULTRY Cockerels, heavy breeds, iiriuie, -Is to 5s each; not prime, 3s to .*ss 3d; light, prime, 2s to 3s; not prime, Od to Is (id; fat hens, heavv, 4s to 4s (id; light, 2s lo 3s 3d; pullets, heavy, best, 4s to ss; smaller, 2s up; light, best, 3s to -Is; smaller, Is up; drakes, young, prime, 3s (id to Is (id; smaller, 2s up; old, 2s to 3s; ducks, young, 3s to 4s; old, 2s to 3s; geese, 5s lo 7s; turkey hens, 7s to 3.05; gobblers. His to 255. EGGS AND BUTTER Eggs.—Ren. first grade, Is o!4d a dozen; B, Is 714(1; C, Is 2'jd; duck, first grade, 3s B',vi a dozen; B, Is 714(1; Is ll a d. Fanners' Butter. —Is to Is 3d per lb. GOLD AND SILVER (Received December 20, 5.5 p.m.) LONDON, Dec. 2S Gold is unchanged at £8 8s an ounce. Silver is quoted at 22 11-lOd a standard ounce and line 24{d a fine ounce. .FOREIGN EXCHANGE RATES (Received December 20, 5.5 p.m.) LONDON, Dec. 28 Foreign exchange rates are: —New York (dollar). -1.003; Montreal (dollar). 4.45; Paris (franc). 17G.); Amsterdam (gr.), 7.55; Brussels (belga), 24.025; Milan (lire), 77.75; Hongkong (dollar), 14 01 -Old; Shanghai (dollar), 4:1(1; Stockholm (kr.), 16.00: Copenhagen (kr.), 20.31; Batavia (fl.), 7.44 to 7.54; Oslo (kr.), 17.70; Geneva (fr.), 17.785; Bombay (rupee), 18d; Kobe (yen), 14 11-.'32 d. WALL STREET BUSINESS NEW YORK, Dec. 28 Turnover on the New York Stock Exchange to-day totalled 1,080,000 stocks and 'shares, against 1,150,000 on the previous day. BRADFORD TOPS FIRM _____ LONDON, Dec. 28 Tlio Bradford tops market i 3 very firm, -with little now business. PRICE OF RUBBER ' • LONDON, Dec; 28 Rubber is quoted at 11 11-16 d per lb.*