THE MONEY MARKET

New Zealand Herald, Volume LXXVII, Issue 23618, 30 March 1940, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN DECLINE IN DEPOSITS NOTE CIRCULATION HIGHER LONDON", March 'JB The Bank of England return lor the week ended .March 27 is as follows: ISSCK DKI'AKTMFNT Notes issued:- Oovt.debt C I 1,000,000 In circu- Oilier (lovl. Intion i'st:i, 100,000 securities 5(15,200,000 In bank- ()ther secuing dept. a7,100,(.i00 ritics :s,:',(ki.oihi Silver coin 5oo,oo(i * C 580,00(1,00(1 Gold coin & bullion 'Jini,(i(i(l £ 580.21 l(),(K)(I ,CSS( 1,200,01 )0 'Amount of fiduciary issue. BA N KIX (I PEPAIi TMK X T Capital . . £1 1,51)0.000 Govt. seenRest .. :t,7( >(),(>()(: rities £ 13.1,200,000 Deposits—- \dvunces Public 't:{,l()0,0()(i and other Cankers & securities '_'!), 100,00(1 other ars. MO,'J0(),00(. .Votes .. ,'57,100,000 Cold and silver 'coin 1,100,000 £"JO 1,51)(),()(III £ "_'( 11,500,0110 The principal items of the above return compare as follows with those for last week, the proportion of the reserve Ileitis shown in the last line: Deposits- Mar. 'J7 Mar. 20 Public .. £13,100.000 £ t!),500,000 Bankers 08,000,000 08,100,000 Other Accounts i 2,200,000 -11,800,000 £ I 53,300,000 £ I so,-loo,(100 Securities Government .. 131,'j00.000 133,000,000 Advances, etc. (i, 100,000 7,200,000 Other .. 23,000,000 20.000,000 Ttrservc . . 3S,'_'on,Oon 10,700,000 Note circulation 513,100,000 510,000,000 Coin and bullion 1,300,000 i,:«io,ooo Proportion 20. S3 2 l.Hi RATE OF DISCOUNT The Bank of England rate of discount is 2 per cent. It was reduced on September 21 from I per cent lo per cent ill ill Oil October 20 to the current rate. CONSOLS AND DOMINION STOCKS The following table gives quotations for consols a.nd colonial inscribed stocks, compared with those of March 21: —

THE CITY MARKETS APPLE SUPPLIES HEAVY CABBAGES VERY PLENTIFUL Large quantities of apples continued to come forward at the City Markets yesterday and prices remained very low. Dessert pears met with a good demand. while there was a fair inquiry for tomatoes, cape gooseberries and outdoor To Kauwhnta grapes. Values were high for quinces, which were keenly sought. Cabbages and swedes were in over-supply and very low rates were realised. Fair quantities of cauliflowers came forward, choice lines realising fair prices. .Beans and pumpkins were very plentiful, although best quality sold well. Supplies of carrots and parsnips were heavy, and yesterday's values were in advance of last week. Prices were: Fruit.—Apples, Cox's Orange, 2s to -1s a case; Kidd's Orange. Js (id to ss; Northern Spy. Js (id to :5s (id; cookers, Js to 3s; pears, Clairgeau, ss; B. Diel. 5s to (is; Winter Coles, lis (id to los Od; tomatoes, outdoor, extra choice, 7s to 8s; others. 4s to 0s; lemons according to grade and count, (is Od to 15s (id; bananas, rine, according to quality, i ts to 255; grapis, Te Kauwliata, its to Us a crate; hothouse Hamburg, (id to Od per lb; Coloman, extra choice. Is !>d to '2s o%d; others, !>d to Is (id; Moroc. Ild to Is; peaches, Golden Queen. 7s to Ss ltd a case; others, Is (id to (is (id; strawberries. Captain Cook. Is x'/.jd to Is lOd a chip; cape gooseberries, 7(1 to Sd per lb; passiunfruit, (is (id to 10s a case; figs, lis to 7s;_ porsimmons, .">s to r>s nd; quinces, lis to 15s. Field Produce. —Beetroot, (id to Is a dozen; celery, cooking, Is to Is (id a bundle; dessert. Js to Js Ild; carrots. lis (id to 5s a has:; or Ml to Is :id a dozen; cauliflowers, 7s io los (id a sack; cabbages, lis to ss; cucumbers, Is to :is (id a dozen; French beans, Is lo js a bag; stringless beans, lis to 7s; green peas', Is (id to 10s (id; kuniaras, iVid to '—''<: id per lb; leeks, ltd to (id a bundle; lettuce, Ms to 7s a case; marrows, Js (id to :ts (id a sack; melons, citrons, 5s to (Is per cwt; water, (id to Is (Jd; onions, Us (id to Is a bag; potatoes, Kangatiki, 5s to (is per cwt; Ohakune, ts to 5s (id a bag; Pukekohe, '-'s to :is (Id; pumpkins, choice ripe Crown, (is to Us (id per cwt; medium, -Is to (is a sack; Red Warren, Lis (id to is; parsnips, 'ls to Ss (id a bag, or Is :5d to js a dozen; radish, Is to Is (id a dozen; rhubarb, •Js to !is; spinach, SKI to is (id; spring onions. Sd to Is Id a bundle; swedes, Js to 'Js Od a bag; turnips, (id to Od a dozen; brussols sprouts, 7d to Od per lb. Poultry.— Cockerels, heavy breeds, prime, ■ls (id lo 5s (id each; not prime, 'Js lo 3s; light, prime, 'Js ltd to :5s (id; not prime, Is up; fat liens, heavy, 'Js Otl to Is; light, Is Oil to 'Js; pullets, heavy, best, 5s to 7s; smaller, 'Js up; drakes, young, prime, Js to :ss; smaller, Is (id up. Butter and Eggs. - Eggs, hen, first grade, 'Js iV/jd a dozen; B trade, Js HV/I; C grade. Is 5%d; duck, first grade, Js :i',jd; 35 grade, Js J 1 jd; C grade, Is I'/id. Farmers' butter, Is 'Jd lo Is Id per lb.

JUDGING OF BACONERS WESTFIELD COMPETITIONS A field day and baconer competition arranged by the Auckland Young Fanners' Club was held at the Southdown works of the Auckland Farmers' Freezing Company. Limited, yesterday. Stated to lie the lirst competition of its kind and under which the baconer pigs displayed were all bred and reared l).v members of the club, lire event was an outstanding success. There was an attendance of over 10(1 farmers and the exhibits numbered over 50.

The pigs were and judged on tin' hoof and wore later killod iiml dressed and judged oil the hooks. The prizes for "the two competitions were donated by the Meat Producers' Board and a special challenge cup and* miniature was presented for annual competition on the hooks by Sims, Cooper and Company, Limited. The awards in those two <'lasses were as follows:—On hoof: O. Smith, Clevedon, I; T. 11. Muir, Fast Taniaki, 2; C. .Bell, Clovedon, On Jiooks: O. Smith, Clevedon, I; G. Bell. Clevedon, and C. Upton, Ararinui, equal, 2; D. Moult, Runeiman, and R. W. Franke, Runciman, equal, .'3. Members of the Young Farmers' Club participated in competitions for weight estimating and judging of the best Imconers, and tin- results we re: Weight estimating: .1. A. Barrett, Ilarrisvillo, I; .1. C. Armstrong, ilarrisville, 2. Judging baconers: R. Ryburn, Clevedon, and 10. K. Alexander, Tuakan, equal. 1. FIRM BRADFORD PRICES LONDON, March 28 New business in yarns at Bradford is restricted, because commitments generally are well covered. Prices are linn. Substantial we ghts ol fine tops are being exported, 1 ut export of yarns is restricted owing vo diflieulty in getting supplies from spinners.

Trice Variation t s d s ft Consols, '2Vi per rent . 7° O -5 0 Fund. Loan, 1. 1000-00 101) 10 ot - 15 ot War Loan. :?V~, 10.V2 . o.s 10 0 - 10 o t'onvrrs'ri Loan, I! 1 i, '(i 1 J IT 10 0 -10 0 Victory Honda, 1 MIS l'-> (i - 7 fi Coni'woaltli, Ml-15.75 tor. Ml 0 — 5 0 Colli'wca 111), 1, IOI.'Mn 100 15 0 -5 0 Com'wealth, 'V„, in is-.*: { on 10 0 — 5 0 Com'wealth, 1050-0: 1 OH 0 o - 7 0 Coin'wraltli. 1 !)o."i-.">.S so 7 0 -2 n X.S.W., O'/i, M«0-50 . 07 15 0 -10 0 Victorian, 1020-10 05 0 0 + 5 0 Victorian, loio-oo 1 00 .-> o -10 0 Victorian, 5, 1015-75 ] 0.-> 5 0 — 5 0 Queensland, 1 7 05 10 0 - 15 0 Queensland, 10-10-00 100 7 <i Same K. Aus., :s, 10Hi or after 70 0 0 - I _ 0 S. Ans.. Ml 15-75 . . 105 Ml 0 — 5 0 \V. Aus.. 1, 10 I J-O-J . . 00 10 0 — 2 0 Tasmania. 1 1010-50. too 10 0 + 5 0 X.Z., I"i. MMJS-5S lo:> 0 0 -7 (i Xew Zealand, :t. M»1 •"» 05 10 0 -'2 0 TKx interest