FINANCE & COMMERCE

Dominion, Volume 37, Issue 200, 22 May 1944, Page 6

FINANCE & COMMERCE

RESERVE BANK Sterling Funds Increase

The Sterling exchange funds of the Reserve Bank on May 15 totalled .£50.211,055, an increase of .£688,222. The note issue at £36.!136,144 shows a decrease tor the week of £71,214. The statement as at Monday, May 15, is as follows:—

Proportion of reserve to notes aud other demand liabilities, 38.743 per cent., compared with 30.068 per cent, on May 8 The reserve on May 15 was £32,069,684, an increase of .£955,006. A year ago the reserve was £27,793,156. Sterling exchange on May 15 amounted to £30,214,085, an increase of £688,222. Liabilities in currencies other than New Zealand currency total £46,278 (a decrease of £266,874), thus making the bank’s net overseas assets £30.167,807, compared with £29.212,711 on May 8, an increase ot £955,096. A year ago these assets were £24,901,279. Advances to the State Marketing Department total £5.036,331, a sharp increase of £2,801,858. A year ago they were £8,872,590. Advances to the State for other purposes remain unchanged at £35,885,000, compared with £31,135,000 a year ago. The note issue on May 15 totalled £36,936,144, a further decrease of £71,214. A vear ago it was £31,668,419, and two years ago £24,337,623. Demand liabilities to the State amount to £12,840,854, an increase of £541,978. The trading banks’ reserve balances total £35,040,063, an increase of £3,286,330. Other liabilities at £280,083 have decreased by £ G 05,508. The statement balances at £88,833,537, an increase of £2,920,018. National Mortgage Dividend Cabled advice has been received that the National Mortgage and Agency Co., of N.Z., Ltd., has declared an interim dividend of 2} per cent., tax free. Stock And Share Indices (By Telegraph.—Press Assn.—Copyright.) LONDON. May 20. "Financial Times” indices (1926 equals 100).

liabilities. 8 . ,d. General reserve loud .... Bank notes 1..-4HI.000 36,930.144 0 0 0 0 Demand liabilities — (a) State 12,840,854 6 0 (b) Banks 33,010, G63 280,082 1 13 6 3 Liabilities other than >u N.Z. currency . 40,278 — Other liabilities ■ . 2,189,514 18 £(N.Z.)SS,833,537 4 3 ■ ASSETS. d. 0 Reserve — (•1) Golt] £ 2,801,877 30,214,084 s. 10 (b) Sterling exchange . (c) Gold exchange .... 12 1 49,343 8 Advances to the State— (1) Marketing Dept, .. (2) For other purposes 5,936,330 11 35,885,000 0 0 Investments 11,734,340 8 6 Other assets 2,212,558 15 10 £ (N.Z.) 88,833,537 4 3

Govt, sec’s. Home Indna- Goldrails, trials. mines. May 10 . .. 112.7 69.4 132.8 158.4 May 11 . .. 112.7 69.4 132.9 158.2 May 12 . .. 112.7 69.3 132.6 157.9 May 15 . .. 112.7 69.3 132.6 157.7 May 16 . .. .112.7 69.1 132.5 157.0 May 17 . .. 112.7 69.1 132.3 156.9 May IS . .. 112.7 69.2 132.6 156.9 May 19 . .. 112.7 69.2 132.6 156.9 Dow Jones Averages NEW YORK. May 20. Dow Jones averages <1926 equals 100) f 20 Rail32 Shares roads. Industrials, sold May ii . 39.06 138.03 618,000 May 12 . 38.49 138.51 747,000 May 13 . 38.63 138.60 220,000 15 . 38.70 138.00 337,000 May 16 . ....... 38.91 138,41 536,000 17 . 39.40 138.99 818.000 May 18 .. .. 112.7 69.1 132.3 156.9 May 19 . 139.34 789,000