RESERVE BANK RETURN

New Zealand Herald, Volume 78, Issue 24134, 28 November 1941, Page 3

RESERVE BANK RETURN

STEELING £403,49.9; g STATE [by TELECKArH —PRESS ASSOCIATION'] WELLINGTON, Thursday Following a decrease of £597,568 the previous week, Government deposits .show a further, fall of £446,654 in the Reserve Bank return gazetted to-day. The statement with variations t compared with the week before is as follows: — LIABILITIES £ £ Variation Gen. reserve », 1,500,000 Same Bank notes , .. 22,294,118 +14,449 Demand liabilities— State . .. 8,041,151 -446,654 Banks . .. 8,780,226-182,31.5 Other . .. 304,049 - 55,168 Other currencies .. 28,761 +2,65.8 Other liabilities ~ 1,042,298 . . -2,488 Total .. 41,941,503 -669,518 ASSETS Reserve— Gold .. .. 2,801,874 Same Sterling ex .. 11,044,531 -405,499 Subsidiary coin .. 82,176 +24,019 Advances— Marketing .. 6,086,883 -342,564 Other . .. 16,500,000 Same Investment , .. 3,842,379 Same Other assets .. 1,583,660 +54;526 Total .. 41,941,503 "" -669,518 Proportion of reserve to notes and other demand liabilities, 35.096 per cent (35.529 last week). & / The principal in this week's return are compared with those at the corresponding date last year in the following table: — (OOO'e Omitted) 1941 1940 Variation Notes . .. 22,294 20,854 +1,440 Deposits— State .. 8,04 1 5,995 +2,043 - Banks ... 8,730 13,982 -5,252 Exchange .. 11,045 - 8,823 +2,222 Advances— Marketing . 6,06? 2,928 +3,159 . Other . . 16.500 23,690 -7,190 Ratio (per cent) 35.096 28,498 +6.598 DISTRIBUTING TRADE HEAVY CHRISTMAS DEMANDS Exceptionally busy conditions are reported in the distributing trade, in which deliveries on December account are- in full swing. Some merchants' house? have been working overtime in ortter to overtake orders. gfneral demand has concentrated on the Jfusual seasonal lines. Very little has been reported from overseas markets. Importers are working on the balances of expiring licences and many shortages are developing. Tea—The Colombo market was very irregular this week. Prices fluctuated according to quality, but some grades were down - as much as 3%d per lb. The Calcutta market remained very firm. Eastern Products. The Calcutta market for shellac made another advance of about 5 per cent this week. Tapioca eased slightly in Singapore. Greaseproof Paper.—With * the hotter weather the demand for greaseproof paper has shown its normal increase. Supplies arriving from overseas are limited. Disinfectants.—A considerably heavier de/ ma ml for disinfectant powders is being experienced, particularly from the country. Merchants report no difficulty at the moment with supplies. Canned Goods.—What stocks of canned fruit are available are being rapidly consumed. The demand for canned vegetables has been snch that the smaller-sized tins of peas and tomatoes are now out of stock. There are still fair Quantities of No. 2 tins / available. Dried Fruits.—All dried fruits and flavours ... are selling freely as a result of the seasonal demand. Merchants report the arrival of documents for new season's dates. The fruit will be transhipped through Australia. SYDNEY PRODUCE LEVELS SYDNEY, Nov. 27 Wheat price 3 are unchanged. Bulk is quoted at 3s llYsd a bushel, and bagged at 4s 3V 2 d. Flour, £l2 13s; bran and pollard, £6; potatoes. Brownells, £6; New Bismarcks, fill. Onions, brown, 18s per cwt; white.. 19s; maize, yellow, 4s. CANTERBURY WOOL v ["BY TELEGRAPH —PRESS ASSOCIATION] CHRISTCETTRCH, -Thursday Between 20,000 and 25,000 bales of woo! will be placed before the appraisers at the first main offering of wool in Christchurch this season. The valuing mil commence on Tuesday. Because of the excellent ■ growing season the wool has come forward in splendid order. It is of better quality than the good clip of last year. Deliveries into Christchurch stores have been consistent and heavy in. the last few weeks and most brokers report that they have rather more on hand of the new clip than is usual. The stores are not yet clear of the whole of last year's wool and probably 6000 bales of old wool are still waiting for shipping space. WELLINGTON- OFFERINGThe first appraisal of wool in Wellington this season begins to-day. Approximately 25,000 bales will be dealt with. Some of the wool so far received in store is opening up rather light in condition due to too much rain and lack of sun.