THE RESERVE BANK

Waikato Times, Volume 122, Issue 20463, 1 April 1938, Page 2

THE RESERVE BANK

INCREASE IN NOTE IBBUE DROP IN DAIRY ADVANCES (By Telegraph.—press Association) WELLINGTON. Thursday The Reserve Bank return for the week ended Monday, March 28, was gazetted to-night. The statement is balanced at £28,316,575, or £669,640 less than at the close" of the previous week. Government deposits are lower by £783,130 than in the previous week's return, while those of the trading banks are £9Bll higher. The note Issue, after a steady fall lasting over weeks, has increased by £24,227. Other demand liabilities are £48,318 higher. The sterling exchange reserve, which had shown several successive increases, has fallen by £245,940. Advances to the Primary Produce Marketing Department are £278,467 lower. The statement, with variations, compared with the week before is as follows:

LIABILITIES Variation 1. General reserve 1,500,000 2. Bank notes . . . 13,554,468 t24,277 3. Demand liabilities— (a) State 7,115,261 -783,130 (b) Banks 5,588,065 t9,8U (c) Other .... 354,001 t48,318 6. Other liabilities 204,690 11,134 Total 28.316,575 -699,640 ASSETS 7. Reserve— (a) Gold 2,801,791 Same (b) Sterling ex. 16,929,651 -245,940 8. Subsidiary coin 10. Advances— 228,230 -789 1. Primary Produce Marketing 5,109,127 300,000 2,971,985 -278,467 -50,000 Same 11. Investment .... 13. Other assets .. 75,791 -124,444 Total 28,316,575 -699,640 Proportion of reserve to notes and other demand liabilities, 74.145 per cent. (73.143 last week). t Indicates plus.