Finance And Commerce

Dominion, Volume 36, Issue 218, 10 June 1943, Page 4

Finance And Commerce

RESERVE BANK ‘ Sterling Fund,s Lower The sterling exchange funds of the Reserve Bank on May 31 totalled £26.788,613, a decrease of £ 1,204,934. The note issue at £31.811.008 has decreased by £67,444. The statement, as at Monday, May 31, is as fol-

£ (N.Z.)55,516,176 2 8 Proportion of reserve to notes and other demand liabilities, 35.986 per cent compared with 38.173 per cent, on May 4. , The reserve on May 31 totalled £-9,e74. ■832, a decrease of £1,294,960. A year ago the reserve was £25,895,448 fn t»ile ( l Sterling exchange on May 31 totallea £26,788,613, a decrease of £1,294,904. uia billties in currencies other than xew Zealand currency were £15,658 (an increase of £6), thus making the banks net overseas assets £26,772,955, a decrease of £1.294,960. A year ago these assets amounted to ~-4,Advances to the State Marketing Department total £7,718 036. n Ad'l 737 A vear ago they were £11,359,b-J. au varices‘to the State for other Purposes now stand nt tlie record high level of £34.J00. (M)0 an increase of £3,818,000 compared with £22,300.000 a year ago The note issue on May 31 totalled 811.908, a decrease of £07,444. A year a„o 11 DeninnVuabiHHea to the tn £l5 674,041, an increase of £.1..«5->.»--The'trading -banks’ reserve £3O 809 623. a decrease ot £3ol,till, ntner liabiiHies £l-888.412 have Increased by £ The’statement balances at £85,536.176. an increase ot £2.481.345. Sales In New Zealand

Dealings in stocks and shares recorded on D New Zealand stock exchanges yesterdav were as follows, the number of shares fn each lot being shown in the case ot Wellington

War Loan, 1/10/53. £93/17/6: Inscr. Stock, 4 per cent.. 1943-4 G. £lOl/12/6’ Comm. Bank of Aust. (2), 111/7., l«/t>: bank of X.Z. (21, £2/1/6; E.-S. and A. Bank, £3 10/-; Farmers’ Co-op. Auet., £2 paid, xi 13/-: Trailers’ Finance, con., 4/3; Dominion Breweries (2). £l/10/6; Aust. Consol Industries (2). £2/11/9; South British Insurance (2). £3/10/6: Broken Hill Pty., -- 3/-; Metiers, 16/-. CHRISTCHURCH. Inscr. Stock, 3 p.c., 1953-56, £9B; ditto, 4 p.c., 10411 (2). £lO2/15/-; Bank of New Zealand, £2/1/0; Colonial Sugar. £oa/l-/0; Selfridges (N.Z.), 8/5. DUNEDIN. Bank of New Zealand, £2/1/0; E.S. and A. Bank, £3/18/9.

LIABILITIES. £ s. d. General reserve fund .* 1,500, CCD 0 0 •Bank notes *... ,31.811,SOS 10 0 Demand liabilities— (a) State . 10,674,041 y ,(.b) Banks . 32.SOO.623 9 t> ■(c) Other . 1,888,411 10 5 Liabilities other than in N.Z. currency 15,65 i io a Other liabilities 1,810,533 1 8 £(N.Z.)85,516,176 2 8 ASSETS. Reserve — . 2,801.877 IO u (b) Sterling exchange , . 20,788,613 0 3 Subsidiary coin ■ , . G3.b!)3 10 0 Advances to the State — (1) Marketing Dept. ... . 7,718, I12 0 (2) For other purposes Investments , 34,9u3,0»‘>j . 10,298,300 0 0 G 7 Other assets , 2,S92,o3b 14 10

WELLINGTON. No. of shares. £760 War Loan, l/10/a3 .... Sale price. £ s. d. . ‘93 17 6 . *94 0 0 . 03 17 G Comm. Bank of Aust. ... . 0 id 6 •AX) Bank of N'.Z.. ex div 6 *0 G 0 JOO Maednffs Ltd., ord . *0 9 100 Ditto, prof ♦1 6 ‘Late sale Tuesday. AUCKLAND.