STERLING FUNDS DOWN

Wanganui Chronicle, 10 November 1950, Page 2

STERLING FUNDS DOWN

Sterling exchange held by the Reserve Bank fell from- £49,783.346 to £48.791,707 in the week to November 1. In the same period the note issue rose from £55,573,822 to £55.593,789. The assets and liabilities of the bank as at November 1. with the weekly averages of 1939 and 1949, were as follows: — Week

Av. Av. ended XN.Z. (millions) Liabilities— 1939 1949 Nov. 1 Reserve funds . 1.50 1.50 1.50 Bank notes Demand liabilities— 16.08 51.31 55.59 State 2.77 11.38 12.65 Banks 10.75 73.84 69.0*1 Other .31 ’()5 .97 Other currencies . . .03 .24 Other liabilities A sets— .47 3.82 4.84 R •'serve— Gold 2.80 3.22 4.62 Sterling 5.31 49.00 48.79 Other exchange •— — Subsidiary coin .. Advances to State— Marketing 6.09 3.48 Other 13.59 3 * .63 Other advances ... . .06 4.91 5.50 Investments 3.66 41.86 Other assets 1.9 < •Ratio. P.c. 27.00 38.14 — ♦ Proportion of reserve to demand liabilities. notes and other