THE MONEY MARKET

Dominion, Volume 28, Issue 104, 26 January 1935, Page 10

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION LOWER By Telegraph.—Press Assn.—Copyright. London, January 24. The Bank of England return for the week ended January 23 is as follows:— Issue Department. £ £

Short Loans and Bills. The Bank of England rate of discount was reduced to 2 per cent, as from June 30, 1931. Short loans are quoted at -J per cent., the same as last week. The market rate of discount for best three months’ bills is 5-16 per cent., compared with 3-8 per cent, last week. DEALINGS ON ’CHANGE Yesterday’s Sales The following sales were recorded yesterday On the stock exchanges mentioned :— WELLINGTON.

SYDNEY STOCK EXCHANGE Market Very Firm

By Telegraph.—Press Assn.—Copyright. (Received January 25, 9.5 p.m.) Sydney. January 25. The Sydney Stock Exchange developed a brighter tone to-day with the turnover heavier and the tone of the market very firm generally. Sales: Bank of New South Wales, £32 ; Commercial Bank of Sydney, £l7/15/-; Commercial Bank of Australia, 17/-; Bank of New Zealand. 51/-: Australian Gas, A, £B/2/6; British Tebacco. 39/44 ; Burns Philp, 64/-; Burns Philp, South Sea, 26/9; Colonial Sugar, £4l/12/6: Queensland National Bank, £5/5/-.

Australian Iron an‘d Steel, ]jref., 24/6; Dunlop Perdriau. 19/7} ; Newcastle Gas, B, 13/9; Howard Smith. 16/10}; Automatic Totes, 18/10}; Goldsbrough Mort, 30/-; Winchcombe Carson, 28/6; Wileox Mofflin, 10/6; Morris Hedstrom, 19/-; Henry Jones, 36/6; Mlllnquin Sugar, 36/6; Electrolytic Zinc. 22/-: Tooths. 51/-. Mount Morgan. 40/3; Broken Hill Proprietary. 54/3j South Broken Hill, 75/-; Placer Development. £27; General Industries, 14/6; Eui'atha Gold. 7/2. Morning sales included: Commonwealth bonds, 4 per cent., 1938, £lO4 3/9; 1953. £llO/2/6; Bank of New South Wales, £32; Tooths, 51 /3; Tooheys, 30/3; Anthony Hordern. 19/3; Broken Hill Proprietary. 54/3; James Stedman, 17/-; Morris Hedstrom, 19/3: Wilcox Mofflin, 10/6.

By Telegraph.—Press Assn.—Copyright. Melbourne, January 25.

Sales on the Melbourne Stock Exchange to-day included: Commercial Bank of Australia, 17/-; National Bank, £5 paid, £6/8/-; British Tobacco, 39/6; Herald and Weekly Times, 58/-; G. J. Coles, pref., 39/-.

Notes issued: Govt. debt. 11,015,100 In cireu- Other Govt. lation 373,823,921 securities 245,988,058 In bank- Othersecuing dept. 78,579,771 rities 550,002 Silver coin 2,440,810 <’200,000,000 Gold coin & bullion 192,403,092 452,403,092 452,403,092 “Amount of fiduciary issue. Banking Department. £ £ Capital 14,553,000 Govt, sccuRest 3.571,475 rities 81.121,413 Deposits: Disets., adI’ublic 10,909,002 vances 9,121,511 Bankers 108,238,370 OthersecuOthera/cs 30,349,940 rities 10,207,394 7 day, etc., Notes 78,571X771 bills — Gold & silver coin 591,704 179,081,853 179,081,853 Proportion of reserve to liabilities, 49.00 per cent., compared with 47.00 per cent, last week. The principal items of the above return compare as follow with those of last week:— Jan. 10. Jan. 23. Deposits: £ £ Public 14,103,044 10.909,002 Bankers 108,738,410 108,238.370 Other accounts .. 30,110.175 30,349,940 159,017,035 101,557,378 Securities: Government 83,350,413 81,121.413 Discts., advances . 9,052,730 9,121,511 Other securities .. 9.800,279 10.207,394 Reserve .. 74,830,823 79,171,535 Note circulation ... 378,107,218 373,823,921 Gold coin and bullion 192,403,092 192,403,092

£ s. d. Tnser. Stock, 3! p.c., 1938-32 .. JOI! 15 0 Bank of Australasia (2) 11 12 Eng., Scot, and Aust. Bank .... 3 Bank of N.Z., D long term (2) i 9 3 N.Z. Guarantee Corp *0 K 10} Gear Meat (2) 1 1 9 N.Z. Refrig., 10/- paid, cum div. *0 10 1 ■\yilsons Cement 1 13 Sydney Ferries 0 9 4 Wool worths Ltd., •second pref. 1 S 3 “Sun” Newspapers *0 . i Big River *0 1 8 Waihi Grand Junction 0 10 Mount Morgan o o •Late sale Thursday. AUCKLAND. • 1* .s d. Inscribed Stock, 4 p.c., 1955 too 0 0 Wairarapa Power Bd., 41 p.c. .. 104 0 0 Gisborne Sheepfarmers, 61 p.c. . 103 0 0 Bank of New Zealand o 10 3 Ditto 10 0 Union Bank 9 2 o N.Z. Insurance 11 o N.Z. Guarantee Corp; 0 10J Pukemiro Collieries 1 f* 6 Taupiri Coal ..... 0 18 3 Westport Coal 1 z 0 Taupo Totara Timber (2) 0 0 Claude Neon (N.Z.) 2 14 0 Farmers’ Trading 0 7 7 Sun Newspapers*’ 0 Ditto o 3 17 6 Mataki o 1 11 Waihi Junction (2) 0 4 10 Mount Lvell 0 16 9 Unlisted:— Alluvia] Holdings 0 o n Golden Crown, 2/- paid 0 3 Ditto, Cd. paid 0 - 0 CHRISTCHURCH. Comm. Bank of Aust., cum div. . ~0 10 Reserve Bank 6 13 0 N.Z. Refrig., 10/- paid, cum div. (4) 0 10 1 Quill Morris (in liquidation) ... 0 4 1 Sun Newspapers (3) o pr o Ditto '. o 4 11 Bi" River (2) 0 1 11 Mahakipawa (2) 0 0 114 Mount Morgan 1 19 9 Ditto 1 10 6 Sales reported:— Inscribed Stock. 4 p.c.. 1930-40 . 103 0 0 Ditto. 4 p.c., 1943-40 100 0 0 United Building Society 1 1 q Canterbury Frozen Meat, pref. . (J 0 0 Westport Coal *1 o 3 Sun Newspapers 0 J-. 1 Ditto 0 o Ditto 0 n Ditto (4) 0 5 1 Ditto (2) o — o Big River 0 1 10 Ditto (2) 0 1 11 King Solomon (2) 0 3 4 Unlisted:—) Ben Ledi 0 0 9 Woolworths (Syd.), ord* 4 12 (j Ditto 4 12 6 •Late sale Thursday. DUNEDIN. i* S. d. Sun Newspapers ♦o' .> 0 Ditto o 1 Timaru Brewery *0 8 4 Inscribed stock,* 4 p.c., 1935 .... *109 6 Reserve Bank 6 13 0 National Insurance 1 N.Z. Refrig., £1 paid, cum div 1 .1 5 Westport Coal 1 >) 0 Mount Morgan n 0 0 Bell Hooper (2) 0 0 1 *Late sale Thursday.