RESERVE BANK RETURN

New Zealand Herald, Volume LXXVIII, Issue 23996, 20 June 1941, Page 3

RESERVE BANK RETURN

STERLING 1M0W,539 HIGHER

RiSE IN BANKS' DEPOSITS

INCREASE OF £1,267,405

[itv TKLIK.K A I'll PHCS.S ASSOCIATION""] !■'. 1.1,1 XGTiIN, Thursday

'1 he rising tendency shown by Government deposits in past weeks is reversed b.v a decrease of £047,938 recorded in the Reserve .Bank return for the week ended Monday, June 10. For the second time in succession trading bank deposits have increased bv more than £1,00(1,1)00. Tiie statement with variations compared with the week before is as follows : LIABILITIES

Proportion of reserve to notes and other demand liabilities. o.'USOS) per cent (Sy.:WO last week).

The principal items in this week's return are compared with those at the corresponding date last year in the following table:

NEW GOLD VENTURE

INTERESTS IN SOLOMONS EMPEROR AND LOLOMA Emperor Lo!d M ;n:ne Company, Limited. and Loloma (.Fiji) Gold .Mines, X.L., report that they are acquiring between them a controlling interest, in a company being formed in Fiji to carry out gold prospecting and exploration over a large concession area on the island of Guadalcanal, in the British Solomon Islands Protectorate.

Mr. T. K. Victor, a director of Loloma and Emperor, stated that part of the area was inspected recently by .Mr. E. G. Theodore, who was impressed by its possibilities. The lease comprised about 700 square miles and embraced the whole of the known auriferous area, with the exception of leases already granted. I'nder the supervision of a technical expert from the Loloma mine, Mr. Victor added, the proposed company intended to send ;t staff of Australian surveyors and prospectors to prospect for lodes on the island. Mr. Theodore, who is a director of Emperor, and managing director of Loloma, said the new company was in process of formation and no details of the capital had yet been decided. GEAR MEAT DIVIDEND The dear Meal Company, Limited, Wellinsrloii, has. declared an unchanged interim dividend of .",,1 a share, payable June 20 PUBLIC TRUST BUSINESS Kstates nf a value of 1:5:10.552 were reported and accepted for administration by the Public Trustee during the month of May, lull. The tidal value of the estates and fluids under administration by the Public Truster on March Ml. I!U1, was cot, i:Ui.ti!)'_\ ("1 rants of adminisl rat ion made by the Court in favour of the Public Trustee numbered IV) for May. A total of I o-_>2 new wills appointill!; the Public Trustee executor were prepared on behalf of Irslators and lodged for safe ru.-tody, and |o:i existing wills were revised to provide for changes desired by testators.

SYDNEY PRODUCE PRICES (Heed, s p.,,,.) RYILNFY, June If) The wheat market is firm. Silo grain is quoted at lis l|',i| a bushel; bagged, Is U'jd; Hour, .€l2 i:t- a Ion; bran and pollard, 1:0; pot a toes, Tasmania n, Ills; others, 11 |oh; onions, brown, L'l2 10s; maize, while, .'ls 10(1 a bushel; yellow, ,'ls 7d. MINING YIELDS West Coast dredging returns:—Orey liiver: 201 ':,oz, 100.<122 yards, 1 .'t I hours. Ngahere: First half June, MSsoz, 101,000 yards, ,'!SS hours. Blackball Creek: .'tooz, 117 hours. Fiji comp,'lilies' yields for the four weeks ended June 11 are: --Kmperor; Treated 12.00,s lons, including 000 tons sulphide, for .1000 fine oz. Loloma: Treated 2000 tons for 3220 fine oz,

Variation £ £ Ct rn. reserve 1,500.000 Same Brink notes . 21.7n.0M -49,093 Demand liabilities State .. . "10,300,079 -047,918 Hanks . 3 3,050.804 + 1,207,405 Other .. •uw.a.vj + 81,1 24 Other currencies •_'(). 111 —10,950 Other liabilities . 1,272,! 122 + 15,891 Total . 48,72!.), 942 + 649,853 ASSETS Reserve — Oo'd 2.801,874 Same Sterling Ex. .. 21,81 1.077 +■ 133,53!) Subsidiary coin .. 53,350 -22,110 Advances - Marketing 5,030,921 4-220.203 Other , lit,500.000 Same Investment 3,772,509 Same Other assets 1,72(5,2.") 1 + 18.227 Total 4S,7'29,!M2 + 049.85:1 ;

Buyers i- « .1 Sellers I: s d BANKS, INSURANCE, AGENCY Haul; Australasia . s 1 0 8 JO 0 Com. Hank -Anst. u l:l H 0 1*1 0 Ditto (pref.) 8 Hi 0 M G Nat. Bank N.Z. 1 ll' (.5 l Nat. A'asia (con.) — 0 r. 17 G Bank N.S.W. 27 0 — 1 liank Now Zealand 1 15 0 1 10 Union Bank (1 H) 0 0 — 8 National Ins. 0 IS 5 18 New Zealand Ins. ii :t i; ii •1 0 South British Ins 'J r_! o — Standard Ins. li o 0 3 1 G Do m. 1. and B. (1 17 0 0 — N.Z. Guarantee () i 2 5 COAL, GAS, SHIPPING Grey Valley Coal .... 0 8 G Pukeviiro Coal 0 10 0 — Tau piri (ord.) 1 0 ii — Ditto (pref.) 1 u 0 — West.-St k. (prof.) o li a G 1 I Auckland < las . . u r. i; 0 5 Northern Steam . 0 a _ 0 3 10 Union Steam ipf.) i 7 G TIMBER, WOOLLENS, BREWERIES Leyland - O'Brien I) if. 0 — National .. (1 (i 0 o (J o Kaiapoi (con.) 0 •i 11 0 5 2 M "Wool . . —- JO 0 0 Doiu. Brew, (ord.) I <i 1 8 4 Ditto (pref.) 1 H ii 11 9 N.Z Brew, (ord.) 1 I 1 0 1 Swan Brewery 1 2 1 i —. MISCELLANEOUS A.C.I 'J 1 0 — Ditto (eon. 1 1 Hi (i — Aus. Iron (pref.) 1 (i 0 1 — G Aus. Paper (pref.) !! r» British Tobacco '2 :s Broken Hill Ptv. ■J 'j ii 'J - 2 G Ditto (new) 'J 0 0 - 1 10 G Burns, Philp - ■ 0, Colonial Siurar .. •VJ ii — Con. Brick i > r; (.1 0 1 Farmers' Trading . o is 1 l —- 0 < 1 eneral Indus. ii 1 ii ii 2 11 ill-1'luniimT (ex d. 1 n i ■ ■— l.C.I. (pref.) t :i ii 0 — .M.K. M Irs. (J ■ ) ■1 G 0 3 G National Electrical — 1 N.Z. Druu: — > 17 G Ditto (eon.) 2 10 0 N.Z. Fertilizer (i 1 s o 0 10 .'i 9 Ditto (pref.) I 1 0 11 I - Reid Rubber (rts.) o '2 0 3 1 Sanford (ord.) 0 a 7 0 3 10 Taranaki Oil Dev. ii I to 0 0 Taranaki Oil Fields (i ■i 11 0 5 G Union Oil i 5 0 0 18 Wilsons Cement. . . <t IS ii G Woolworths (N.Z.) 0 1'-!. 11 0 13 1 Ditto (Syd.) . . n 1 r, 11 0 1G - MINING Martha ii 7 fi 0 8 0 Waihi Invests. .. (i :i J t ■ r> 0 Emperor 0 11 ii 0 12 0 Mount. Lyrll . • i ■" fl 1 G Mt. Morgan (ord.) 0 s 0 0 0 0 G New Occidental , . 0 12 13 G N.Z. GOVT. LOANS Bonds 0 l.Vl/.W>7. 1 0! 10 — li . . TO'J 0 11 — 1 r>i t 1 Hi-Id, 1 . . lo:i 0 1) — ! 1 . . t (»:> 0 0 — Rurai Bonds— 0 1 ST. 1 103 0 — War Da.. l/IO/Hii s;.S 0 83 15 0 Stock - 0 ir» i '.vi-.">7, :i' v . I n t 10 — 1 t:i-Hi 1 .. nu 0 0 103 0 0 ir>/1/-in-m, s . . 11:> t .. 1 < i: 1(1 0 103 15 0 3 <il 5 0 105 0 0 l.Vli/.VJ-.V), t .. Hi.-, 0 0 — :mo 5 0 — S A.C.. 1 /<*.'•! i, : i' '■ :)S 0 0 —. 0 t,Ti.. woo. 101 0 DEBENTURES Amnl. Brick (Ak.) t 102 0 1 It. <> 0 Auclv. Gas (perp.) ! )i i 0 (1 —