Finance And Commerce OVERSEAS ASSETS .RISE

Dominion, Volume 36, Issue 98, 20 January 1943, Page 4

Finance And Commerce OVERSEAS ASSETS .RISE

Reserve Bank Of N.Z. Note issue ot the Reserve Bank decreased by £314,283 in the week ended January 11 and advances to the Market-' ing Department increased by £1,041,865. Proportion of reserve to notes and demand liabilities, 45.669 per cent., compared with 45.470 per cent, for 'the week ended January 4. The statutory limit is 25 per cent. Principal returns, January 12, 1942, were: Bank-notes, £24,130,531; demand liabilities to State, £10,302,218, and to the banks, £14,186,706; gold, £2,801,874; sterling exchange, £13,757,282: advances to Jlarketing Department, £7,210,489; and to State for other purposes, £22,500,000. Net overseas assets have risen to £26,550,322, an Increase of £961,927, due to an increase in sterling exchange ami a drop in overseas liabilities. The statement was as follows:— LIABILITIES. £ s. d.

INVESTMENT TREND Year Opens Well Both internal New Zealand conditions and external factors have exerted an influence ou ths New Zealand Stock Exchange since business was resinned las. week The high level of bank deposits which at the end of November exceeded £94,900,099, coupled with restricted opportunities for trade and the employment uc capital is likely to continue to support a sellers’ market. Markets have been active witli several stocks improving iu price, and Government Stock more so than betore the vacation. Apart from tins, most or the business has been conlined to Australian shares and mining stock. Commercial banks have improved in price ami other bank shares have been iu steady demand. Jlount Lyell and .Mount JIoi e an have also realized higher prices. Comparisons of Government issues, "itn those ruling on December 19 and a year ago, are as follows: — Year Jan., Ago. Dee. 19. U'4J. Stock, 15/1/53-57, 3) 101‘t W3H W2»7 Do , 15/4/46-49, 4 1034* IIMJ 10414 Do., 15/6/52-55 , 4 105* 106 lW>:i Do., 31/5/54-58 4 1064* - JOO War Loan, l/10/o3 8< 9;» •Hi Do., 1/8/51-54 ,398 4 99|* ’O’ l Liber. L.. 15/9/47, 2) - Do., 15/9/52-55, 3 - 994 99. Do., 15/5/53-56, 3 — — ♦Buyers. tEx interest. 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 sliowu in Hie ease ot Wellington :— WELLINGTON. No. of Sa 5’P , I 'i e - shares. * 200 Sanford. Ltd., ord > a . “00 24 p.c. Inser. Stock, to/9/47 98 H 300 Hank ot New Zealand .. - O “ 200 N.Z. Breweries 4 . 13-J Broken Hill I'D J ! 188 Ditto - .1 200 Wilson's Cement ” 2 ’ 100 Kobert Harper Late sale Monday. 200 N.Z. Ket'rig.. cum div. .. 1 j [■ 100 Renown Coal, ord „ 100 Ditto, pref. .7 3 250 Woolworths. I.united ' 1 150 Jlncdutfs. Ltd, pret. J y WO SantoriL Ltd., prci AUCKLAND--10/: l : b AuLliuid U Harboi'ir Board. Ji .l*l L’.irni.Ts (B pref.), 1-/; AuekAuckliiii Kaiapoi Woollen (eon.l. New Zealand Breweries, £145, f i-I £'7lo/-: Broken Hill I’l.v, , , e.,, nr £53/5/-: Consolidated Brick y/-:" Radio (1936). 13/-; Reid Hui' be/ £l/5/9: Saoford. 4’9. CIIUISTCHI .’Kill. i> <• Inscribed. 19.V1-56 Stock. £99,5. -: Xew Zealand Refrigerating 1 10 - paiip. ui/'i- X'ew Zealand Breweries, £l/1(1,.': 'I li e. Inscribed. i:»s.'>-s<> Stock. £ll9 5 -: ;',j p Inscribed, 1953-57 Stock. £ 102. lU. ■ ■ Ele'etrolylie Zinc (ordinary), £2/11.-. DUNEDIN. Xew Zealand Drug. £4/1 6, National insurance. £1.16/-: A.C.I, £l/10/-: \\ ouij/wths (N.Z.)., 15/-; National Bank of N.Z, .£2/8/6: G. J. Coles. £2,IS/b.

General reserve . 1,500,000 0 0 Bank-notes Demand liabilities — . 30,300,015 0 0 State . 13,(144,510 . 19,468,770 1 o Banks _> Other . 797,677 IS 4: Other currencies 22,104 10 6 Other liabilities . 1,524,067 - - ASSETS. £ 67,317,234 14 5 £ 6. d. Reserve— Gold . 2,801,877 10 U Sterling exchange . 20,572,416 18 6 Subsidiary coin Advances to State— 18,200 15 9 Marketing . 1,620,168 1 Other purposes . 30,000,000 0 0 6 Investments . 4,457,881 10 Other assets . 1,864,680 18 0 £67,317,234 14 5