THE RESERVE BANK

Southland Times, Issue 23437, 18 February 1938, Page 9

THE RESERVE BANK

ASSETS AND LIABILITIES (United Press Association) WELLINGTON, February 17. Following is a statement of the assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, February 14:—

Proportion of reserve (No. 7, less No. 5) to notes and other demand liabilities, 68.438 per cent. METAL MARKET (Received February 17, 6.30 p.m.) LONDON, February 16. Metals are quoted as follows: — Feb. 15 Feb. 16.

FOREIGN EXCHANGES (British Official Wireless) (Received February 17, 6.30 p.m.) RUGBY, February 16. The following mean closing rates of foreign exchanges were quoted today compared with par:— Par Today

NEW ZEALAND CURRENCY BASIS The Bank of New South Wales, Dunedin, announces the following rates of foreign exchange on a New Zealand currency basis: on Buying Selling

MINING RETURNS BARRYTOWN DREDGE GREYMOUTH, February 17. For the half-month ended February 15 the Barrytown dredge worked 215 hours, treated 77,000 cubic yards and produced 2480 z of gold. THE PRICE OF GOLD LONDON, February 16. The price of gold is £6 19/9 an ounce.

LIABILITIES £ s d 1. General reserve fund 1,500,000 0 0 2. Bank notes 13,967,392 10 0 3. Demand liabilities— (a) State 4,375,297 17 9 (b) Banks 9,562,718 4 1 (c) Other 242,658 10 1 4. Time deposits ■ 5. Liabilities in currencies other 6. Other liabilities 193,000 0 0 TOTAL £29,841,067 1 11 ASSETS 7. Reserve— (a) Gold 2,801,791 0 0 (b) Sterling exchange 16,462,188 12 4 (c) Gold exchange 8. Subsidiary coin 217,805 0 11 9. Discounts— (a) Commercial and agricultural bills ■ III. (b) Treasury and local body 10. Advances — (a) To the State or State undertakings: (1) Primary Products Markettag Department 6,236,741 13 2 (2) For other purposes 1,100,000 0 0 (b) To other public authorities (c) Other public authorities 11. Investments 2,949,931 17 0 12. Bank buildings 13. Other assets 72,608 18 6 TOBAL £29,841,067 1 11

£ s d £ s d Copper— Standard, Spot 38 10 0 39 4 4'/ 2 Forward 38 14 4>,i 39 9 4>/ 2 Electrolytic 42 0 0 43 10 0 to 43 0 0 43 17 6 Wire bars 43 0 0 43 17 6 Lead— Spot 14 18 9 15 1 3 Forward 15 3 1% 15 3 l’/ 2 Spelter— Spot 13 13 l>/ 2 13 16 ioy 2 Forward 13 19 4>/ 2 14 0 7*/ 2 TinSpot 181 7 6 184 15 0 Forward 181 7 6 184 2 6 SilverFine, per oz 20 l-16d 20d Standard, per oz 21%d 21 9-16d

Paris, fr. to £ 124.21 152 51-64 New York, dol. to £ 4.886 5.03 9-16 Montreal, dol. to £ 4.886 5.03% Milan, lira to £ 20.43 95 11-16 Copenhagen, kr. to £ 18.159 22.40 Oslo, fr. to £ 19.159 19.90 Vienna, schgs. to £ 34.585 26’, 4 Berlin, xmk. to £ 20.42 12.42 Prague, kr. to £ 34.585 142 15-16 Helsingfors, m. to £ 103.23 226% Madrid, pesetas to £ 25.15 — Lisbon, escudos to £ 110 110 3-16 Athens, dr. to £ 875 547% Bucharest, lei to £ 318.6 677% Belgrade, dinars 275.3 216 Rio de Janeiro, p. to milreis 8.895 2 13-16 Buenos Aires, p. to dol. 45.577 Montevideo, p. to dol. 57 21% Bombay, p. to rupee 10 18%

London— £N.Z. to £stgl00 T.T. 124 124/10/O.D. 123/10/ 124/18/9 Australia— £A to £100 N.Z. T.T. 101 100/10/O.D. 101 100/10/Fiji— £F to £100 N.Z. T.T. 90/7/6 89 O.D. 90/7/6 89 New York— Dollars to £1 N.Z. T.T. 4.0719 4.0372 O.D. 4.0819 4.0412 Montreal— Dollars to £1 N.Z. T.T. 4.0680 4.0355 O.D. 4.0800 4.0395 AustriaSchillings to El N.Z. T.T. — 20.99 O.D. MM 21.00 Belgium— Belgas to £1 N.Z. T.T. 23.965 23.655 O.D. 24.040 23.666 Czechoslovakia— Korunas to £1 N.Z. T.T. — 113.77 O.D. — 113.82 Denmark— Kroner to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.899 Finland— Marks to £1 N.Z. T.T. 184.95 179.15 O.D. 185.35 179.25 France— Francs to £1 N.Z. T.T. 124.21 121.71 O.D. —- 121.75 Germany— Reichsmarks to £1 N.Z. T.T. —— 9.906 O.D. — 9.911 Greece— Drachmae to £1 N.Z. T.T. —. 429.54 O.D. — 429.84 Holland— Florins to £1 N.Z. T.T. 7.308 7.158 O.D. 7.348 7.162 Italy— Lire to £1 N.Z. ' T.T. —— 76.68 O.D. —— 76.73 JavaFlorins to £1 N.Z. T.T. 7.279 7.129 O.D. 7.319 7.133 Norway— Kroner to £1 N.Z. T.T. 16.182 15.892 O.D. 16.242 15.898 Noumea— Francs to £1 N.Z. T.T. 125.46 120.46 O.D. —. 120.50 Papeete— Francs to £1 N.Z. T.T. 125.31 120.51 O.D. — 120.55 Sweden— Krqiier to £1 N.Z. T.T. 15.790 15.495 / O.D. 15.850 15.501 Switzerland— Francs to £1 N.Z. T.T. 17.541 17.271 O.D. 17.646 17.276 Chefoo— N.Z. pence to 1 dollar T.T. — 18% O.D. MM 18 7-64 Hong Kong— N.Z. pence to 1 dollar T.T. 18 29-64 18 53-64 O.D. 18 27-64 18 53-64 India and Ceylon— N.Z. pence to 1 rupee T.T. 22% 22 21-32 O.D. 22 11-32 22 21-32 Japan— N.Z. pence to 1 yen T.T. MM 17% OJ3. MM 17% Manila— N.Z. pence to 1 peso T.T. 29 9-16 30 1-16 O.D. 29 33-64 30 1-16 Shanghai— N.Z. pence to 1 dollar T.T. -M 18 9-64 O.D. MM 18 9-64 Singapore— N.Z. pence to 1 dollar T.T. 34 11-64 35 11-64 O.D. 34 19-32 35 11-64