RESERVE BANK RETURN

New Zealand Herald, Volume LXXVIII, Issue 23954, 2 May 1941, Page 3

RESERVE BANK RETURN

STERLING £'432.367 HIGHER DEMAND LIABILITIES RISE TOTAL £635,913 GREATER [BY TELEGRAPH —PRESS ASSOCIATION] "WELLINGTON, Thursday An increase of £432,367 in' the value of the sterling exchange reserve, shown in the Reserve Bank return for the week ended" Monday, April 28, is counterbalanced by a rise of £635,913 in the level of aggregate demand liabilities. The statement with* variations compared with the week before is as iollows: — LIABILITIES jS £ Variation Gen. reserve .. 1,500,000 Same Bank notes .. 21,853,929 -47,873 Demand liabilities— State .. 0,015,812 +114,437 Banks . . . . 13,311,416 +344.909 Other .. 548,907 +176.567 Other currencies .. 15,030 Same Other liabilities .. 1.202,096 +16.812 Total .. .. 47,447,189 +604,852 ASSETS Reserve— Gold .. .. !2,801,573 Same Sterling Ex. .. 20,515.775 +432,367 Subsidiary coin .. 106,278 +1,024 Advances—^ Marketing .. 3,169,549 +175.759 Other .. «. 15,500,000 Same Investment .. ~ 3.772,569 Same Other assets .. 1,581,145 -4,323 Total .. 47.447,189 +604,852 Proportion of reserve to notes and other demand liabilities, 52.906 per cent (51.811 last week). — The principal items in this week's r&turn are compared with those at the corresponding date last year in the following table: {ooo's omitted) 1941 1910 Variation £- £ £ Notes .. >. 21,854 17,945 +3,909 Deposits— State ~ 9,016 6.828 +2.ISS Banks 13.3] 1 15,3-16 -2.035 Exchange f* 20.516 13,848 +6.668 Advances — » Marketing .. 3,170 3.41S -218 Other 15.500 10,360' -3,860 Ratio (per cent) 52.906 - 41.289 +11.617

MERCHANDISE TRADE MATCH PRICES FIXED Distributing merchants continue to report satisfactory business. Heavy tobacco deliveries were made this week and houses are busy with delivery of orders for general goods on May account, which continue to come in. Little news is available from overseas markets. Tea.—The market in Colombo this week was again slightly firmer. - Cornflour. —The last shipment of cornflour from the English market has come to hand, and as the local market has been very bare of supplies, it is meeting a ready sale. Following the prohibition of export from Great Britain future supplies will be drawn from Australia. Prunes. —Early shipments of Californian prunes have arrived, and further consignments will follow as required. Match Prices.—The Price- Tribunal has issued an order fixing the selling prices of locally manufactured safety matches. They are not to exceed B!ad l!or packet lots. 3d for four-box lots and Id for single boxes. At other than freight-paid points actual o:.' proportional freight may be added tc four-oox and packet, rates only. Rangoon Rice, —The overseas market tor Rangoon rice is firm and further advances have been foreshadowed. Supplies have been very short locally, and consignments from the recent shipment reaching store are going out rapidly. Merchants expect further shipments in the coming months. Dried Fruit. —Orders for Australian sultanas and currants have been extended for s month until the end of May without alteration in price. Similarly orders for lexias have heen extended to the end of August. Biscuits. —The number of varieties manufactured in fancy grade biscuits is" being reduced. Merchants expect that some of tho. slower selling lines will be eliminated altogether. Southern Shipments,—The erratic nature oi southern shipments is causing concern . lti most houses. Space, it is understood, is beinp allotted on a pro rata basis and some of tho largest shippers arc unable to secure sufficient; space to make full deliveries. This has caused a shortage of some lines on the local market. SYDNEY PRODUCE VALUES (Reed. 9.20 p.m.) SYDNEY,- May 1 The wheat market is brighter. 6ilo grain is quoted at 3s HVid a bushel and bagged at is 3 1 -d. Flour, tV2 13s a ton; bran and pollard. £6 a ton; potatoes, Tasmanian. Ids a ton; others. £5; onions, *l< a ton; maize, yellow and white, 4s oa bushel. PROPERTY AUCTIONS C F Bennett, Limited, will offer at auction at its rooms, corner Que™ blowing land Streets, at noon today, thi iiroTierties:— Two-storey residence at. 20 St. Stephen's Avenue, Para ell; house of six rooms ■it S5 St. Stephen's Avenue, iarnell; factory site and two-storey dwelling at 32b arid 330 \ ew North Road*; house of eight rooms at IGreat North Road, Grey Lynn; fourroomed cottage at 5 Commercial Road, Grey T vnii • two shops and accommodation at 1C S and no Jer'vois Road; and house of five rooms at 1-1 Kolniar Koad, .Papatoetoe. _ , Robert C. Carr and Son will offer at anc t ion at their rooms.- 2( 'i67 noon to-day, residence of 10 rooms at Victoria Avenue, "Remuera. Vaile and Sons, jLimited, "will offer hv auction at its rooms. 83 Queen Street At °d m to-dav, nine sections fronti nor the . EenTanade, EastVrn Beach. and house of five rooms at 2 Rose Road, urey Lynn.