THE MONEY MARKET

New Zealand Herald, Volume LXXVII, Issue 23577, 10 February 1940, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN NOTE CIRCULATION RISING TOTAL DEPOSITS LOWER i . LONDON, Feb. 8 The Bank of England return for the week ended February 7 is as follows: ISSUE DEPARTMENT Notes issued:— Govt. debt All 1,000,000 In circii' Other Govt. lilt,lon £531,100,000 securities 501,000,000 In bank- Other secliing dept. 40,100,000 rities .. 4,500,000 Silver coin 500,000 VC580,000,000 Gold coin & bullion 200,000 £080,200,000 £580,200,000 *Amoiint of fiduciary issue. BANKING:DEPARTMENT Cripital .. £14,500,000 Govt, securest ; 3,500,000 rities £121,800,000 Deposits— Advances Public, ~■ 28,000,000 and other Bankers & securities 27,400,000 other acs. 152,500,000 Notes .. 40,100,000 Gold and silver coin 800,000 £liHVl00;000 £1110,100,000 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— Feb. 8 Feb. 1 ■Public ~ £28(000,000 £30,700,000 Bankers ... 108,700,000 08,200,000 Other Accounts 43,800,000 44,300,000 £ 181,100,000 £ 182,200,000 Securities— Government ~ 121,800,000 110,300,000 Advances, etc. 2,500,000 3,100,000 Other .. 21.000,000 2 1,500,000 Reserve . . 40,000,000 53,300,000 Note circulation 531,100,000 527,700,000 Coin and bullion 1,000,000 1,000,000 Proportion 27.55 20.22 RATE OF DISCOUNT The Hank of England rate of discount is 2 per cent. It was reduced on September 21 from 4 per cent to .'1 per cent and on October 2(5 to the current rate. CONSOLS AND DOMINION STOCKS The following table gives' quotations for consols and colonial inscribed stocks, compared with* those of February 1: Varia-

THE CITY MARKETS SHORTAGE OF APPLES VEGETABLES PLENTIFUL The City Markets arc temporarily short of apples, due' partly to tlio change to Government control and partly to the few varieties available, and there was a good demand yesterday for most (lesseft and cooking varieties. Prices remain much the same. Good dessert pears, also, were inclined to be in short supply, their season being as yet early, and Boh Chretien sold well. There was a great variation in tomato prices, poor quality and over-ripe lines being hard to quit. Large quantities of hothouse grapes came forward and sold at considerably lower prices. Black currants and blackberries sold well, but the demand for plums and peaches was only fair. Potato and onion supplies were very heavy, with prices low. Cabbages in over-supply realised very low rates. High prices ruled for green peas, which Were scarce, Small quantities Of new season's kiimaras appeared and brought high values. Cucumbers were a glut on the market. Prices were:— FRUIT Apples, Albany Beauty. f)s lo lis a case; Ornveiistein, 8s lo lis (ids cookers, Os (id lo Ss; pears. Bon Chretien, OS lo 12si lonialops, outdoor, exlra choice, smooth, <ls to ss; others,' 2s Od to 3s; dwarf, Is 0(1 to Is; lemons, according lo erode arid count, (is Od lo iss Od %-bushel cases; bananas, original, ripe, 27s lo 2iis a case: (rfa|)cs ( liotllousot Hamburg, few extra choice, 1s :iti to Is Od tier lb; others, 8d to Is; peaches, I'afftgofl,.lis Od lo 4s.Od a case; others, 15s ltd to 4s; ('tales, .OS to 12s ia' crate; plums, Burbank, 2s lo Ms fl case; fxtlsiiina, <3s to Is; Piifjde Kititr, 4s :Jo (Is; i>orls, Is to ss; Oieeuenge, (3s Odf .aectaHjiCSi choice, (Is to 7s; others, 5s lo 5s (Id; apricots, Sotith Island, Ss to lis; strawberries, Captain Cook, extra choice, 2s a •'hifjj otliefs, Is (Id to Is !ld; blackberries. If'Ose, (Id ,lo 7d per lb;* chips," Td to lid a chip; black , currants, -12s a case. FIELD FI'ODUCF. Beetroot, Od to Is a (lOfccnj celery, dessert, 2s (Id lo Us a bundle; carrots, 2s (Jd to 4s Od a dozen, or Sd to Is 3d a dozen; cauliflowers, "is to 7s (Id (i sack; cabbages, Is (id to lis (Id; cucumbers, 4d to Od a dozen; French beans, 1A lo Ms a biitr: stHngless hertns, 4s to 8s (liti green t'eas, us (id to 113s Odi kiimaras, nowi season's, fid to fiVad per lb; leeks, 3d to (Id a bundle; '■lettuce, Us to (Is a case; marrows, 2s Od to 4s Od a sack! onions,, Ms Od lo 5s a bag; potatoes, Ohakniie, lis Ml lo -Is (id; local. 'Js to its (Id i jmitiukhis, choice, „H|te Red Warren. (is to 7s Od tier .ewt.j medium, Ms to 5s a-sac.kf parsnips, 4s to /is- Od a bug, or is la Is (Id a (ton; radish, Od to lid; rhtilltirb,; 1.1. Od <0 i>B Ifldi spinach, is (id to 2s (id; spring onions. Od to Is Md a hiindlo; swedes, 2s (id to Us 0(1 li Imur; turnips. Od to lid a dozen. . ' POULTRY

Cockerels, heavy breeds, prltno, 5a to 7s each) not prime. 2s to Hsj light, t>Htno, 2s to lis adi not, prime, Iff Ujj; fat, Il6tt& honV.V, "s Od to Ms (Ids llftlit. 1s Hd tfl Is' tiHi Dtllfots, henv.V, best, Hs to 7s; smaller, as up; drakes, young, prime. '_>s to Us; (Smaller, !s (»d up. BUTTER aND EGG s

Ekjts.—lien, Ist- ffrade, Us o'/ a d u dozen; B Is IOV-d; C, Is U'/ad; duck, Ist grade. Is !>Vid; B, Is SVUI; C. .18 r J'Ad. / Furmcrs' butler, Js (o is *Jd per lb.

GRAIN ' AND PRODUCE

CANTERBURY MARKETS [by TELKGItAPtt-—PHESB ASSOCIATION*] CJrtIUSTCHURCH, Friday There is little activity 111 ally lino except tt'lient in the Canterbury gram, seed mid produco markets, W lion J, continues to come forward freely. Few dim oats, for wllicli merchants' quotations, fu'o unchanged at 4s 3d to 4s 9d, have been offered, 1 but not many sanities of gartOliS are reported. Nearly all the cocksfoot so far submitted 'has betm poor and it looks as though growers may have difficulty in disposing of light weight seed this season. Merchants are still oil'eriug up to 5s Gd and higher for best samples of Italian ryegrass, and from Gs to 5s Gd for perennial, but many growers seem content to withhold supplies in the meantime. , , ' . , Wliite clover is unchanged at Is to Is Gd. The potato market remains inactive, with merchants still offering £3 10s and growers disinclined to break £4. ■ • ' '

BRADFORD WOOL TRADE t LONDON, Feb. 8 Bradford consumption of .wool' and tops has boon Well maintained. 'I he Wool Control authorities arc showing preference for the export trade in tops in the issue of permits for new deliveries. There is a , good demand for yarns 'at higher prices.

. Price lion £ s (1 s rl Consols, 2y 2 per cent Fund. Loan, <1, '00-!)0 72 10 0 -40 0 1 lT 0 0 -20 0 'War Loan, ii%, 1052 . 00 10 0 + 10 0 Conversion Loan, ay x , '01 Of) 10 0 - 10 0 Victory Bonds, '1 1 10 0 0 -.10 0 Coin'wealth, 5, 15-75 111(5 7 0 — 2 0 Coin'wi'iiltli, 1, 'i:MB 102 5 0 0 Coni'tvenlUi, '4S-5M 101 5 0 -2 0 Coin'uealtli, 4, '50-01 03 12 0 +7 0 Coin'wen 1th, 3, '55-58 00 12 (J 4-7 0 X.S.W., if/., 11130-50 . 00 0 (1 •Same Victorian, 3, 1020-10 . 05 12 (i — 12 0 Victorian, 4%, MMO-OO 101 n 0 -b 0. 0, 1015-75 . 100 0 0 -5 0 Queensland, 3, 1022-47 00 10 0 Same Queensland, 5, 1010(1(1 102 0 0 —2 0 8. Aus., 3. '10 or after 75 7 0 + 7 0 H. A list., 5, 1015-75 . 105 .17 0 + 15 0 W. A list .; 4, 1012-02 100 15 0 — 2 0 Tttsnidiliti, 4, 1040-50 . 101 5 0. -5 0 N.Z., 1'/ 2 , 1018-58 .. 102 5 0 + 5 0 X.Z., 3, 1015 07 0 0 — 5 0