BANK OF ENGLAND RETURN

Dominion, Volume 15, Issue 1, 26 September 1921, Page 8

BANK OF ENGLAND RETURN

Australian-New Zealand Cable Association. London, September 23. The Bank of England return for the week ending September 21 is as under:

e Ex interest. MONEY MARKET. The Bank cf England discount rate, which wan raised from 6 per cent, to 7 per,-' cent, on April 16. 1920. was reduced to 61 per cent, on April 26. 1921, further reduced to 6 per cent, on June 22. 1921, and again reduced to 5J per vent, on July 20, 1921 OPEN MARKET RATE.. The open market rate for three months’ bill is nominally 4J per cent... n B compared with 4J per cent, last week and 6J per cent, last year. - Short loans are quoted at 4 ner cent., as against 39 per cent, last week and 5J per cent, last year. MINING NEWS WELLINGTON BHARR MARKET. The quotations recorded on SattZ’dnjin tho milling market were aa under:— Buyers. Sellers. £ s. d. £ b d. Blac ,f .ter Minos 0 5 a Mt. Lyell 0 14 0 — Walhi 116 — Waihi Grand Junction ... — 0 8 9

LIVE STOCK SALES Messrs. Dalgety and Company, Limited, Palmerston North, report having n, fair entr? of sheep and a small yardljig 0/ cattle at their Fcilding sale on Septemher 23 There was a decided rise in fat sheep owing to small penning, and improved demand at increased rates for hoggets, Quotations:— Sheep: Small hoggets, 7s 3d.; good hoggets, 9s. 8d„ IDs. to 10a. 2d.; forward hoggets, Us.; aged ewes, with b.f. lambs, Ils. 6d ; fat ewes, 13s. Cattle; Dairy cows, £10; backward dairy heifers, £4 to £5 10s.; springing heifers, to £l3 10s.; store cows. 12s-: rough -young steers, 175.; rough yearling heifers, to 18b. ; empty yearling heifers, dairy sorts. £5 6s ; weaner hulls 15s. to 205.; 18-month hulls. £5 to £9. The Farmers' Auctioneering Co reports: —At Hamilton, on September 22. our yarding of cattle and sheep was below tho average but proved quite sufficient, for the demand! Tho beef pens were full, and contained several good lines of wellfinished bullocks, for which competition was fairly spirited. The best heavy made from £lO 10s. to £l2 145.; lighter weights, £6 2s. to £9; fat cows, from £4 7s. to £6; store cattle were poorly represented, and were mostly of indifferent quality. A ’lino of 3-venr fresh-conditioned steers sold at £5; fresh cows. £2 10s. to £3 15s ; store cows, Ils. to 20s. Tho balance of the yarding consisted mostly of empty heifers, but bidding for this class lacks tho briskness of aMew weeks ago. The majority'of the pens were passed at auction, hilt in most eases business after-wards-resulted Yearling Holstein heifers, £5 10s.; Jersey cross, to £5; Shorthorn, to £3. Sheep were poorly represented in point, of number, and sold at late rates. Rest wethers, to 255. No fat ewes were penned. Fresh-conditioned ewes, 9s. Pigs were again iq good supply, but prices eased somewhat, although competition was .ftill keen. Baconers made to £6 Is : porkers. £2 15s. to £3 17s. 6d.; good sllds, 355. to £3; small slips, 20s to 305.; weaners, 12s. to 20s.

Ifruf- Department. Notes issued £124-406.000 Gov. debt... £11.015.000 Other securiNotes in ties ... . reserve 20.638-000 Gold ... . . - 7.434.000 . 126.595.0G0 £145.044.000 £145.044.000 Banking Department. Pionrletors* Gov. securiraJrftftl ...£14.653.000 ties ... £39.690.000 Public de- , Other seem iposits J. 13.060,000 tics ... . . 85.120.000 Other denosits ...1:5.204.000 . botes in .. 20.638,000 Rest,7-diiy reserve and other v oin In .. 1.623.[)C0 • bills - 8.554.000 reserve fl47.271.000 £147.271-000 The leading items of the Bank of England return, afford the following comparison:— Thia week Last week Last year ’ £ £ £ Bullion ... 126 595.000 126,952000 12J.559.000 Reserve - 22.461.000 21.653.000 16 029.000 Note Circulation 124.406.000 125.2O8.C0O 125.486.000 Public Denosits 13.060-000 lu.05S.0G0 16.707,000 Other Deposits . 115.2U1.0UU Proportion of reserves to liabilities 17.39 14.08 1342 GOVERNMENT 8EOUR1TIE8. Following are latest quotation for Imaerial and Colonial Government securities. Stock This ’ Last AV eek Week »>% Imperial Console £ 8. d. £ s. d, 48 7 6 43 0 0 5 „ War Loan 88 10 0 88 17 6 1J ,. War Loan 88 2 6 88 2 6 64 ,. Aus.-Oommouw tn 09 10 0 99 7 6 51 ,, Aus.-Cdmmonw th 05 17 6 09 7 6 4 .. N.S.W.1933 Jan-Julj 77’10 0 77 7 6 t N.S.W. 1S25 Apl.-Oot N.S. W.1930-50 Ja-Jy 67 0 0 66 16 0 63 7 6 63 5 0 69 .. NSW 1922-32. May-N 07 7 6 97 6 0 61 .. NSW 1930-40.Fe-Au 102 17 6 102 17 6 J. „ Vic. 1921-6 Jan-.Tly 31 Vic. 1929-49 Apl.-Oct 89 6 0 . 89 0 0 63 5 0 63 2 6 3 „ Vic. 1929-49 Jan.-Jul 57 0 0 67 2 6 33 ,. S.A.-1939 Jan.-Jly <18 A 0 68 5 a 3J „ 8.A. 1916 Jan.-Jly 61 15 0 fll 15 0 4 ., QT’d 1924 Jan-Jly 54 .. Q'i'dl922-47 Jan.-Jly 90 0 0 93 0 0 ftl. 5 0 89 0 0 3 „ QTd 1922-47 J an.-Jl; 4 „ N.Z. 1929 May-Nov. 56 \5 0 66 0 6 86 5 C 86 0 0 33. N.Z. 1940 Jtin-Jly 70 6 0 70 0 0 3 .. N.Z. 1920 April-Oct. ’CO.12 6 •60 13 6 34 „ W.A. 1916-35 My-Nr 72 0 0 72 0 0 f. .. W.A. 19,5-35 My-Nov F8 0 (1 66 15 0 33 .. Tas. 1920-40 Jan-Jly t’»9 ft 0 69 0 0 3 ,. Tas 1920-40 Jan.-Jul, 61 15 0 64 0 0