RESERVE BANK

Dominion, Volume 35, Issue 256, 28 July 1942, Page 2

RESERVE BANK

Increase In Sterling Funds The sterling exchange funds of the Reserve Bank on July 20 totalled £24,755,584, an increase for the week of £ 1,3i19,7i16. The note issue at £25,880,094 shows a further Increase of £383,232. The statement, as ,at the close of business on Monday, July 20, Is as follows:—

Proportion of reserve to notes and other demand liabilities, 43.148 per cent., compared with 41.731 per cent, on July 13. The reserve on July -0 amounted to £27,493,732, compared with £26.127,343 on July 13. an increase ot £1,368,389. A year ago the reserve totalled £17,756.468. Sterling exchange on July 20 amounted to £24,755.584, compared with £23.435.868 on July 13., ap Increase ot £1,319,716. Liabilities in currencies other than New Zealand currency were £63,729 (a decrease of £46,673), thus making the bank's net overseas assets £24,691,855, an Increase for the week of £1,366.389. A year ago these assets totalled £14,954,594. Advances to the State Marketing Department total £11.014.770, a decrease ot £541.841. A year ago they stood at £5,775.349. Advances to the State for other purposes are unchanged at £22.300.000. compared with £19.000,000 a year ago. The note issue on July 20 totalled £25.889,094, an Increase for the week of £383.232. A year ago It stood at £21,729.844. Demand liabilities to the State amount to £17316.172, an Increase of £101.479 The trading banks’ reserve ba’ances total £l9. 097.229, an Increase of £474 299. Other demand liabilities nt £1,380,679 have in creased by £150,748. The statement balances at £6O 447,093. an Increase of £1.000,709. Government Stock Prices (By Telegraph.—Press Assn -Copyright.) LONDON, July 23. British Government bonds are steady, while New Zealand stocks have further Improved on a good demand. Australians are moderately active. The following table gives the mean Stock Exchange quotations for consols and colonial inscribed stocks, compared with those

Gold Mining The Gillespies Beach wash-up totalled 430 z. 15dwt. for 130 hours from 14,180yds. Pukekohe Produce Prices Dominion Special Service. PUKEKOHE. July 27. Willi a heavy Increase in the demand Pukekohe cabbages have risen 50 per cent. In value since last Monday, today's price being 7/0 a chapman bag. which compares with 5/- a week ago. Pukekohe onions were going away today at 29/- a cwt., which Is a rise of 2/- in the period. It Is estimated that about 150 to 200 tons of onions aro still left In the district Growers aro at present b.usy planting out new crops and are Inclined to let the stored onions, which are keeping well, hold over for attention later. Parsnips today were commanding as much as 15/- a sugar bag. which is an Increase ot 2/- on Inst week’s twice. Carrots remain nt 9/6 a sugar-bag. and swedes at 5/-, with eaullllowors still nt 8/- a chapman bag. Cabbage and cauliflower plants tire still at 12/- a thousand, and onion plants at 3/6 and 6/- a thousand, on rail, Pukekohe.

LIABILITIES. £ s. a. General reserve 1,500,000 0 0 Bank notes 25,869,094 0 0 Demand liabilities — Liabilities other than In N.Z. currency 63,720 17,346,171 6 4 (a) State 19 6 (b) Banks 19,097,228 19 10 (c) Other 1,386,678 14 9 Other liabilities 1,164,189 12 - £(N.Z,)66,447,092 12 7 ASSETS. £ B. d. Reserve— (a) Golt! 2,801,877 10 0 (b> Sterling exchange .. 24,755,584 0 8 Subsidiary coin 26,648 9 4 Advances— (a) To the State: (1) Marketing Dept. 11,014,769 15 3 (2) For otner purposes 22,300,000 0 0 Investments 4,146,340 0 11 Other assets 1,401,872 16 5 £(N.Z.)06,447,092 12 7

of July 10;— Price £ s. <1. Variation. .£ s. d. Consols, 2i p.c S3 •7 0 0 2 ti t Fund. Loan, 1900-90 115 15 0 same War Loan, 3 J, 1052 ..100 C'ouv. Loan, 3J, 1901 . 108 1 3 0 1 st 1 3 0 1 3t Victory Bonds, 4 p.c. 115 C’wealth, 4, 1045-75 .. 101 10 0 .0 6 3t 0 0 0 2 0* C’wealth, 4, 1943-48 .. 99 0 0 0 2 0* C’wealth, 3?, 1948-53 . 95 0 0 same C’wealth, 3-J, 1950-lil . 88 0 9 0 2 0* C’wealth, 3, 1955-58 . 86 0 0 o 5 or X.S.W.. 3J, 1930-50 .. 93 0 0 same Victoria, 3, 1929-40 .. 92 2 0 0 ? si Victoria, 5, 1945-75 .. 101 1 3 0 1 3* Q’land, 3, 1924-47 ... 93 0 0 same S. Aust., 3,1910 (opt.) 71 10 0 0 to Of S. Aust., 5, 1'943-57 .. 101 0 0 t?a me W. Aust., 4, 1942-02 .. 98 0 0 same Tasm., 4. 19I0-5O ... 98 0 0 same N.Z., 41, 1948-58 .... 1OO 0 0 0 5 Of X Z X. 1945 1)6 17 6 0 15 OT tHlgher. ♦ Lower.