RESERVE BANK RETURN

Southland Times, Issue 23989, 2 December 1939, Page 3

RESERVE BANK RETURN

STERLING EXCHANGE DECREASES INCREASE IN MARKETING ADVANCES (Special to The Times) WELLINGTON, December 1. The Reserve Bank return for the week ended November 27 shows a decrease of £919,186 in the sterling exchange held. Last week the bank’s holding of exchange rose by £1,756,000. Advances to the Marketing Department are £347,303 higher, but there is a decrease of £50,000 in advances to the State for other purposes. State deposits have decreased by £146,996 and those of the trading banks by £644,736. The return, with variations compared with the previous week, is as follows:— LIABILITIES a

Proportion of reserve to notes and other demand liabilities, 28.477 per cent. (30.634 per cent, last week). Sterling exchange is expressed in New Zealand currency. COMPANY NEWS BRITISH TOBACCO (United Press Association) WELLINGTON, December 1. The British Tobacco Company announces a two per cent, final dividend and two per cent, interim dividend, payable on December 30.

V Variation. £ £ General reserve 1.500,000 same Bank notes Demand liabilities— 17,434,838 +46,012 State 1,985,006 —146,996 Banks 13,431,362 —644,736 Other 187,866 + 54,321 Other currencies 17,783 +5,083 Other liabilities 862,597 + 226,025 TOTAL 35,209,454 —670,290 ASSETS Variation. £ £ Reserve— Gold 2,801,839 same Sterling Exchange 6,624,584 —919,186 Subsidiary coin Advances— 197,911 —20,477 Marketing Dept. 5,581,963 +347,303 Other 16,675,000 —50,000 Investments 3,238,021 —46,972 Other assets 90,134 + 19,041 TOTAL 35,209,454 —670,290