RESERVE BANK RETURN

New Zealand Herald, Volume LXXVII, Issue 23772, 27 September 1940, Page 3

RESERVE BANK RETURN

STERLING £115,184. LOWER FOREIGN CURRENCIES LEVEL BACK TO NORMAL [by telegraph—press association] "WELLINGTON, Thursday The Reserve Bank return for tlie week ended Monday, September 23, is balanced at a figure £11.824 higher than that of the previous Monday. The small variation in the total results from- considerable movements lafgely balancing one another. Liabilities in currencies other than New Zealand, by a fall of £622,000, return from the abnormal level of the previous week to a figure comparable with that usually shown. ■ The statement, with variations compared with the week before, is as follows: —• LIABILITIES Variation £ £ Gen. reserve .. 1,500,000 Saino Bank notes .. 20,000,247 + 70,750 Demand liabilities — State . . 5.035.560 -406,510 , Banks Other 177,054 +18,032 Other currencies .. 32,511 Other liabilities .. 977,748 +-144,830 Total .. 43,218,077 +11,32-1 ASSETS Reserve — Gold .. .. 2,501,852 Same Sterling Ex. .. 10.101.554 -115,184 Subsidiary coin .. 115.557 +5,015 Advances — Marketing .. 3,034,082 -213,706 Other .. .. 24,040,000 Same Investment .» 2,553,220 Same Other assets .. 569,382 +335,19!) Total .. 43.215.977 +11,324 Proportion of reserve to notes and other demand liabilities, 31.651 per cent (30.776 last week). The principal items in this week's return are compared with those at the corresponding date last year in the following table: — (000's omitted) 1910 1039 Variation £ £ £ Notes .. 20.009 10,0,18 +3,451 Deposits— State .. 5,039 1,705 +3,241 Banks .. 15,413 12,574 +2.539 Exchange .. 10,102 5,312 +4,700 Advances — „ Marketing . 3,034 4,503 -I>s;>o Other .. 24,010 16.250 +/,<9Q Ratio (per cent) 31.051 25.822 +5.529

AFRICAN COCOA CROP BRITISH PURCHASE ARRANGED (Received September 20, 5.5 p.m.) British Wireless LONDON, Sept. 25 The Colonial Office announces the purchase by Britain of the whole of tho forthcoming cocoa crops of tho Gold Coast. Nigeria and West Africa. A cocoa control board is being set up to administer the scheme. Equal treatment will be extended to producers in the iFrench colonics which have adhered to the Free French movement and while plans are being settled, the British Government, to provide an immediate resumption of trade in tho French Camerocus, is buying 12.000 tons of cocoa as far as possible from stocks of the past crop, 4500 tons being shipped to Britain immediately. ONTARIO GOLD RECORD (Received September 20, 5.5 p.m.) British Wireless LONDON, Sept. 25 The output of the 62 gold-producing mines of Ontario, Canada, in August was valued at 10,470.000 dollars (£2.617,500 sterling)—new monthly record. SYDNEY PRODUCE PRICES (Received September 2(5, 0.55 p.m.) SYDNEY, Sept. 2C» The wheat market is quiet. Silo grain js quoted at 3s llid a bushel, and bagged -Is 3 id; flour, £32 10s a ton; bran and pollard, £5 10s; potatoes, Tasmanian. £l3 10s to £ls 10s; New Zealand whiteskins, £l3; dakota red, £l2 10s; onions, Victorian, brown, £S; maize, yellow, 5s a bushel.

PROPERTY AUCTIONS Samuel VaiJe and Sons,.. Limited, will offer at auction at its rooms at '2 p.m. to-day, residence of seven rooms at No, (i'2 Almorab Koad, Epsom, and residence divided into tno fiats at Xos. 1 and la Herbert Jtoad, Mount Eden. C. F. Bennett, Limited, will offer at auction at its rooms, corner of Queen and Shortland Streets, at noon to-day, two-storey, sixroomed dwelling at '5 Vauxhall Koad, Devonport, and house of 26 rooms and offices at 9 Sentinel Road, Eerne Bay.