FINANCE & COMMERCE

Dominion, Volume 35, Issue 264, 6 August 1942, Page 7

FINANCE & COMMERCE

RESERVE BANK Rising Note Issue The sterling exchange funds of the lieserve Bank on July 27 totalled £24,668,815, a decrease for the week of £80,739. The note issue at £25,023,053 shows a further Increase of £33,1)50. The statement, as at the close of business on Monday, July 27,, is as follows :—

Proportion of reserve to notes and other demand liabilities 43.955 per cent., compared with 43.133 per cent, on July 20. The reserve on July 27 amounted to £“‘>- 437,817, compared with £27,493,732 on ouly 20, a decrease of £55,915. A year ago the reserve totalled £18,354,351. Sterling exchange on July 27 amounted to £24,608,845, compared with £24,755,584 on July 20, a decrease of £86.739. Liabilities m currencies other than New Zealand currency were £32,905 (a decrease of £30,824), thus making the bank's net overseas assets £24,635,940. a decrease for the week of £55.915. A year ago these assets totalled £15,552,480. . Advances, to the State Marketing Department total £9,999,955, a decrease of £10,014,815. A year ago they stood at £3,407,640. Advances to the State for other purposes are unchanged at L2-,ovo,wv, compared with £19,000,000 a year ago. The note issue on July, 27 totalled 923,053, an increase for the week of 959. A year ago it etood at £21,7<0,9u1. Demand, liabilities to the State amount to £ 15,921,8-18, a decrease of £1,424,324. The” trading banks’ reserve -balances total £19,077,310, a of £19.910. Other demand liabilities at £1,499,900 have increased by £113,221. „ The statement balances at £<w,lw,dlo t a decrease of £1,300,778. Stock Exchange Sales Dealings in stocks and shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number of shares, in each lot being shown in the ease of Wellington:— WEDDINGTON.

AUCKI--AND.

Liberty Loan, 3 p.c., 1952-su, £ 100; New Plymouth Harbour Board, 3i p.c., £lOl/10/-; South British Insurance, £2 19/-; Renown Collieries, pref., 2/11; Dominion Breweries, £l/6/-; Broken H 1J 1 Ptv.. £l/15/9, £l/16/-; Woolworths (N.Z.), (2), 14/1; Woolworths (Syd.), 10/4; Mount Lyell, £l/4/9, £l/5/-; Martha, 8/1; Placer Development, £2/2/6.

CHRISTCHURCH. Inscr. Stock, 4 p.c., 1913-46, £102; Ditto, 4 p.c., 1948, ’£los; N.Z. Guarantee Corp., 2/11; Invincible Building, £4/5/-; Union Steam, pref. (3), £l/7/-; N.Z. Refrigerating, £1 paid, £l/1/9; Broken Hill Pty. (4), £l/16/-; Woolworths (Sy<l3, lu/2. (2) 15/4; Ditto, 2nd pref., £l/7/-; Mt. Lyell, *£l/4/9; Placer Development, £2 2/6. •Late sale Tuesday. DUNEDIN.

Govt. Bonds. 4 p.c., 1943-40, £102; Inscr. Stock, 4 p.c., 1916-49, £lO3/10/-; Ditto, 3}. p.c., 1953-57,'£101/15/-; Timani -Woollen, 18/-; Woolworths (Syd.), 15/6.

London Stock .Exchange LONDON, August 4. On the Stock Exchange today prices for corporation debentures and stocks compared with previous quotations as fol-

Gold Mining Big River Gold Mines. Limited, report for July, as follows:—No. 4 level: In the prospecting drive north-west of the old workings, a distance of 20 feet was driven on rehf track averaging 36in. in. width. Repairs to the air course on this level were also effected during the month. No. 8 level: The retlmberlng of the chamber was completed. , r , . The Ngahere dredge, for July, returnea 738 ounces for 517 hours from 2.4.762 yards.

LIABILITIES £ s. d. General reserve fund 1,500,000 0 0 Bunk notes 25,923,053 10 0 Demand liabilities— (a) State 15,921,848 8 4 Ob) Banks 19,077,319 0 (•c) Other 1,499,900 0 Liabilities other than In N.Z. currency 32,905 1 6 Other liabilities 1,191,288 19 6 £ (N.Z.)65,140,315 6 4 ASSETS. Reserve— (a) Gold 2.801,877 10 0 (b) Sterling exchange 24,008,844 18 3 Subsidiary coin 28,249 13 7 Advances— (a) To the State (1) Marketing Dept. 9,999,955 7 . (2) For other purposes 22.300,000 0 0 Investments 4,1-10,340 0 11 Other afi setfl . 1,201,047 10 0 £ (N.Z.)G5,1-46,315 0 4

No. of Shares. £7-15 Inscr. Stk., 4 p.c., 1943- £ 102 «. d. 0 0 46 £1530 Ditto, 4 p.c., 1952-35 .... •106 15 0 20 Liberty Bonds 0 18 0 200 N.Z. Guarantee Corp 0 11 200 South British Insurance 19 J 300 Tiinaru Woollen •0 18 0 100 Broken Hill Pty. 1 16 0 150 McKenzies, Ltd 1 19 0. 100 400 Radio (1936), Ltd Woolworths (Syd.), 2nd. •0 12 0 pref ♦Late sale Tuesday. 1 7 0

lows: — July 21. Aug. 4. Dalgety and Co., 4 p.c. 75 10 0 75 10 0 Dalgety and Co., shares 3 10 0 3 15 0 British Tobacco 1 3 9 13 0 Goldsbrough Mort .... 0 15 0 0 35 0 1 6 li 17 6