FINANCE & COMMERCE

Dominion, Volume 36, Issue 108, 1 February 1943, Page 3

FINANCE & COMMERCE

TRADING BANKS Deposits Up; Advances Down An increase in’ deposits, a fall in advances, and an Increase in net overseas funds are features of the latest returns of the trading banks. The monthly summary of assets and liabilities as at Monday, December 28, published in accordance with the provisions of tlie Reserve Bank Act, show the following figures in respect of the six banks:— LIABILITIES. (a) Demand liabilities in N.Z. *70,919,166 (b) Time liabilities in N.Z 28,769,236 (c) Demand liabilities elsewhere than in N.Z. incurred in respect ot N.Z. business .... 664,52-1 (d) Time liabilities elsewhere than in N.Z. incurred in respect ot N.Z. business .... 415,429 (m) New Zealand business— Excess of assets over liabilities 18,180,314 Total 118,948,069 “Including transfers from Bank ot NewZealand’s long-term mortgage fund of £26,241. ASSETS. £ (e) Reserve balance held in the Reserve Bank of N.Z 18,430,764 (f) Overseas assets in respect of N.Z. business—• (1) In London 12,252,075 (2) Elsewhere 2,834,843 (g) Subsidiary coin in N.Z. .. 435,832 (h) Aggregate advances in N.Z. 43,792,888 (i) Aggregate discounts in N.Z. 189,701 (j) Reserve Bank of N.Z. notes 3,766,209 (k) Securities held in N.Z.— (1) Government 34,316.728 (2) Other than Govt 988,868 (l) Value of land, etc., held in N.Z 1,940,761 Total 118,948,669 (hh) Aggregate unexercised overdraft authorities 34,663,704 Overseas Funds Increase. London funds on December 28 totalled £12,252,075, an increase of £881,687, compared -witli November 30. Overseas funds elsewhere than in London were £2,834,843. a decrease of £90,256, the total overseas funds being £15.086.918, an Increase ot £-792,536. Against these funds were demand and time liabilities amounting to £1,079,953, thus making the banks’ net overseas assets £14,006.965, compared with £13,505,987 on November 30, an increase of £410,978. Deposits Increase. Demand liabilities on December 28 were £70.919.166, an increase ot £5,332,290. Time liabilities were £28,769,236, a decrease of £29.608. The total ot demand and time liabilities was £99,688.402. an increase ot £5,302,782. The total of demand and time liabilities elsewhere than in New Zealand was £1,079.953, an increase ot £381,453. The banks’ excess of assets over liabilities was £ 18^1'80.314, a decrease ot £2.430,000. Keserve balances ot the six banks totalled £18,430.764, a decrease ot £298,893. Government securities held by the banks totalled £34,316.728. an increase of £4.015,606. Other securities at £688,863 show an increase of £16,124. Advances Fall. Aggregate advances on December 28 were £43,792.888. a fall of £670,973. Aggregate discounts at £189,701 were £78,536 higher. The total of advances and discounts was £43,982,589. a decrease of £592.137. ’l'll6 excess ot demand and time liabilities over advances and discounts was £55.705.813. compared with £49,810.994. The aggregate unexereised overdraft authorities on December 28 amounted to £34.663.704. an increase of £464,452. Tlie total of advances and discounts and unexercised overdraft authorities was £78,616,293. a decrease ot £ 127.785. London Stock Exchange (By Telegraph.—Press Assn.— Copyright.) LONDON, January 26. On the Stock Exchange quotations of bank shares and other corporation debentures and stocks compare with previous

Bank Of N.S.W. Dividend An interim quarterly dividend of 6/- a share in Australian currency has been declared by the Bank of New South Wales. Tlie dividend will be payable at the head office on February 25 and at branches on receipt of advice. Transfer books will close today. Canterbury Markets (By Telegraph.—Press Association.) CHRISTCHURCH, January 31. More wheat was received by Christchurch merchants last week, anil, with the fine weather, considerable quantities may come forward within the next few days. The quality so far is described as quite good; otherwise tlie market is described as extremely quiet, especially for this time of the year. 'There is virtually no market for Gartou oats and samples of Algerian oats are comparatively few, with no change in business (2/8 to 2/9 on trucks) Business in ryegrass is also quiet, merchants not being disposed to buy much because of export uncertainties, and the number ot samples offering is still relatively small Gold Mining The Suowv River dredge return was 99 ounces obtained from 26.001) yards dealt witli in the 120 hours worked.—P.A. 'Pile secretaries ot the Okarito Five Mite Beuel) Gold Dredging Co., Ltd., report, a washup of 250 z. 6dwt. for 115 hours dredging, a total of 4040 cubic yards be--1 returns from the Slab Hut Creek dredge for the week ended .January 23. was 720 z. from 19,000 yards, handled in 120 lion rs. Maori Gold. Ltd., has announced tlie following return :—37oz. sdwt., 148 hours. 16.000 yards.

quotations as follows Jan,12 Jan. 16 Banks — £ s. d. £ s. d. Australia G 2 6 6 0 0 11.S. and A 3 0 0 2 19 6 Union of Aust 5 0 0 5 2 6 N.S.W 20 10 0 20 10 0 National of N.Z. 1 15 G 1 15 9 New Zealand 1 12 0 1 12 0 Others — British Tobacco .1 11. 6 1 12 0 G’oldsborough Mort . 0 17 6 0 17 6 Dalgety 5 10 0 5 7 6 P. and 0. def .... 1 12 6 1 13 G N.Z. Loan and Merc. 4 p.c., deb 79 10 0 79 10 0 N.Z. Loan and -Mere. 30 10 0 30 10 0