RESERVE BANK RETURN

New Zealand Herald, Volume 79, Issue 24252, 18 April 1942, Page 5

RESERVE BANK RETURN

* STERLING £548,872 LOWER rise in state deposits . (P.A.) WELLINGTON, Friday The statement of assets and liabilities i of the Reserve Bank at the close ti of business on Monday, April 13, is as-follows, the most marked change since the previous Monday "being the } increase of £1,607,100 in Government , deposits:— 1 LIABILITIES i C Variation I Gen. reserve .. 1,500,000 Same Bank notes ... 24,107,650 -81,042 Demand liabilities—- ? Slate .. .. 13,012,110 +1,007,100 Banks ~ . , 17,070,732 +508,800 Other .. 278,107 +84.017 Other, currencies • 10,<>72 +770 Other liabilities .. 1,37-7,590 -1.231,317 • Total . .". 58,274,008 +977,743 ASSETS Reserve—• • Gold ... .. 2,801,877 Same Sterling Ex.'.. 10,154,011 -548,872 Subsidiary coin .. 03,331 +O,B Advances — Marketing ... 0.006,48* +1,318.819 Other .. .. 22,000,000 Same Investment. -.. 4,140,228 Same Other -assets' '.. 1,103,034 +207,608' Total . .. 58,274,060 +077,743 Proportion of reserve to notes aricj other demand liabilities, 30.012 per cent (42.201 last week). The principal items in this week's return are compared with those at the corresponding date last year in the following table:— 7 (000's omitted) 1042 1041 Variation £ £ £ Notes' .. 24",108 21,002 +2,206 Deposits—.State ■ .. 13,012 8,207 +4,805 Bunks .. 17,980 12,252 +5,728 Exchange 10,154 10,530 -382 t AdvancesMarketing . 9,000 3,020 +5,080 . Other .. 22,000 15,500 +0,500 Ratio (per cent) 39.612 51.032 -12.02 SHARES FIRM business tone quiet SELLERS HOLDING OFF Following the Easter vacation Auckland stockbrokers resumed business to a very quiet market and for the greater part of the week sales were comparatively few. However, there was a much improved turnover yesterday. The slackness was not due to market weakness but to a scarcity of. sellers. In virtually all sections buyers re-instated their preholiday bids, but holders had apparently tightened up and kept firm on raised limits. The gilt-edged clclss was as firm as ever, an exception being' provided by the 1052-55 4. per cents, which seemed a shade easier. At yesterday's calls there were buyers for 17 different issues of Government stock and only a single seller in sight, his offering being a parcel of 1054-58 4 per 4 cents at £IOB ss. With money plentiful and holders of existing Government stocks not disposed to sell, it is suggested that the Minister of - Finance might find the present a suitable time to place on the market the War Purposes Loan for which' advance subscriptions have been invited. Year Last This ago Week Week £ £ £ Stock, 15/1/53-57, 3% 100% 102'/* 103* Ditto, 15/4/40.-49, 4 . 104% Ditto, 15/6/52-55, 4 . 105 V, 107* 106%* Ditto, 31/5/54-58, 4 . 106* 107%* 108 War Loan, 1/10/53 . . 81% 80* 80 Ditto, 1/8/51-54, 3 . •Buyers. §Ex interest. A feature of general trading has been increased strength in insurances. A sale of South British yesterday at 55s marks a recovery of 8s in the last four weeks and is in line with values ruling in September last. Bank shares were steady, special attention being directed to New Zealands, which sold at 38s, a gain of 2s in the month. Dominion Industrials had a better and more widespread demand, although sales were few. Auckland Gas hardened further and a parcel of the fully paids changed hands at 6s Bd, an advance of Bd. 1941 Last This High Low Week Week Bank of N.Z. 41/0 35/0 37/3 38/Com. Bk. Aus. 15/7% 13/3 13/0 13/0 Nat, Bk. N.Z. 40/- 32/6 38/61 38/4 Bank N.5.W... 590/- 550/- 520/-* 520/-* •Union Bank.. 146/- 128/9 120/-* 120/-* i Nat. Ins. .. 20/3 18/5 17/7% 17/7% | N.Z. Ins. .. 72/6 59/3 61/- 61/0 ; South' British.. 65/- 48/6 54/6 55/- : Ak. Gas (10/-) 7/6 5/6 6/3 6/8 Pukemiro 18/0 16/- 16/0* 17/-* Dom. Brew. ~ 31/- 28/- 20/- 20/3 ! N.Z; Brew. .. 37/3 20/9 81/-* 32h A.C.I. .. 52/3 39/3 38/0 39/4% Bkn. Hill Pty. 47/3 36/0 31/0* 32/9 j Bycroft .. 46/6 43/3 42/6* 42/6* I Col. Sugar 1127/6 930/- 780/-* 780/-* ' Farm. Trad. 22/2 18/0 19/7* 19/9* ■G. J. Coles .. 68/6 61/- 44/- 44/Wilsons Cem. . 20/- . 18/- 16/6 17/W'wths. (N.Z.) 15/3 12/11 12/9 12/8 *BuyerS. • tSellers. WOOIyPACK INDUSTRY At the annual meeting of N.Z. Woolpack and Textiles, Ltd. (Foxton), the maximum dividend of 4 per cent was declared. The chairman of directors, Mr. A. W. Press, reported that a keen demand had set in for the phormium pack, but a shortage of green leaf was causing some concern. It was anticipated that production in 1042 would be reduced from this cause to 500,000 packs, instead of the estimated 900,000. GRAIN AND PRODUCE (P.A.) CHRISTCHURCH. Friday Grain and produce markets during the week: have been on a parity with those of last week, with the exception of onions,' the market for which has eased slightly because of the arrival of the main crop. A shipment of onions was imule to Australia last week, but at present no advice has been received of any further sales. Because of a certain amount . of space becoming available the market for partridge peas has firmed slightly and they are now worth up to 6s on trucks for No. 1 quality for stations within a reasonable distance from Lyttclton. Other markets are unchanged. SYDNEY QUOTATIONS SYDNEY, April 17 Wheat in bulk is quoted at 3.11% a bushel; pollard, £6 a ton. Potatoes, Tasmanian, £l7 5s a ton. Onions, Victorian white, £1 bs to £1 10s a cwt; brown, £1 to £1 2s; maize, 5s 3d a bushel. MINING YIELDS Grey River (West Coast). —Week ended April 15: 300%0z.; 133,230 yards; 189 hours. THE CITY MARKETS A wide variety of vegetables was offered at the City Markets yesterday. Although plentiful supplies of cabbage and cauliflower arrived for the preceding day's sale, they were in shorter supply, with prices advancing. Potatoes and kuniaras, in fair supply, sold at recent quotations. Lettuce, which has been scarce for the last few days, met with a keen demand. Carrots and swedes in heavy quantities sold at lower prices. Offerings of onions were fair and were more keenly sought than at last week's sale, i Plentiful supplies of dessert and cooking pears wore available. Lemons, which have been scarce for some days, were again offered. Choice tomatoes had a keen demand and values ruled high. More mushrooms came forward, with the quality inferior owing to the recent rain. Hothouse grapes had a fair inquiry, while those from Te Kauwhata, in short supply, brought higher prices. Small quantities of peaches from the south were offered. Prices were:— Field Produce.—Asparagus, Is to 2s a bundle; beet, 3s Od to ">s a case; or Is to Is 6d a dozen; celery, cooking, 2s a bundle; dessert, 2s (id to. 3s Od; carrots. 5s to 12s a bag; or 1s Od to 3s a dozen; cauliflowers, 7s to 16s ft sack; cabbages, 2s 0d to IDs; cucumbers, 3s Od to 8s a dozen; French beans, 2s (id to is <!d a bag; stringloss beans, 8s od to 108 Od; green peas, 8s to His; kumaras, 2d to 3d per lb; locks, Is to Is Od a bundle; lettuce, 8s to lis a case; marrows, 5s to Os; or 3s to 5s a dozen; melons, citrons, id per lb; water, Od to 2s each; onions, ,ss to Os od a bag; potatoes, Rangitikei, 10s to 17s per cwt; Ohakune, lis Od to 13s (id a bag; Pnkekohe, 8s to lis; pumpkins, choice ripe crown, I.Bs to 22s tier cwt; unripe. Os to tOs; Red Warren, 8s to 10s; parsnips, 8s to 10s a bag; or 2s Od to 3s Od a dozen; radish, Is to Is <id; rhubarb, 58 to Os; spinach. Is (id to 3s a case; spring onions, Is to 2s 3d a bundle; swedes, 2s Od to 3s Od a bag; turnips. Is to Is Od a dozen; brussols sprouts, inferior quality, 2d to 5d per lb. , Fruit.—Apples, cookers, various, 3s Od to Is a case; Jonathan, 3s to sDelicious, 3s to Is (id; Ballarat, 4s to ts Od; pears, Winter Cole, 10s to 16s Od; Keiffers, (is to Ks Od; tomatoes, outdoor, smooth, extra choice, 16s to 18s Od; others, 5s to Ms; tree tomatoes, new black, 8s to 10s; yellow, 5s to'7s; lemons, 9s 'Od to 19s Od; quinces, 8s to lis Od; mushrooms, Od to 2s per lb; peaches, dessert, 12s to 13s a case; grapes, hothouse, Gros Col man, special, 2s 6d to' .2s' Od per lh; others. Is Od to 2s 3d; outdoor, Albany Surprise, 17s 3(1 a case; Te Kauwhata, 18s 3d to 21s 9d; cape gooseberries, 8d to 9%d per lb; passion fruit, Os to 10s a case; figs, ts 3d to Os; persimmons, 6s to 8s Oil: fejois. OS. - ; Poultry,—Cockerels, Heavy breeds, prime, Os to Bsf not prime, 3s (id to 4s fids light breeds, prime, 4s to Os- not. prijne, 3s Od; fat hensyheavy breeds, 4s to ss; light breeds, 2s Od to 3s; drakes, young, prime, 4s Od to ss: smaller, 3s up; ducks, young, 4s to ss; old, 3s up; geese, ss; turkey hens, Ss; gobblers, 12s, Eggß and Butter.—Eggs, hen, standard grade, 2s ll%d a dozen; duck, standard grade, 2s 9%d. There has been no change inthe price of eggs since the beginning of the week. Farmers nutter, Is to Is 6d per lb.