FINANCE & COMMERCE

Dominion, Volume 37, Issue 234, 30 June 1944, Page 6

FINANCE & COMMERCE

TRADING BANKS Deposits Rise; Advances Fall A fall in advances, a rise in deposits and a decrease in net overseas funds, are the main features in the latest returns of the trading banks. The monthly summary of assets and liabilities, us at Munday, May 20, shows the following figures iu respect of tlie six banks: — LIABILITIES.

London funds on May 29 totalled £10.000,571, a decrease of £1,314,841. Overseas funds held elsewhere than in London were £1.880,453, a decrease of £65,194, total funds being £11,881.024, a decrease of £1,380,005. Against these funds were demand and time liabilities amounting to £627.788, thus making the banks’ net overseas assets £11,253.236, compared with £12.664.086 on April 24. a decrease of £1.410,850. Increase In Deposits. Demand liabilities on May 29 were £89,846,713, an increase of £1,031,422. Time liabilities wore £30.142.278, an increase of £308,231. The total of demand and time liabilities was £119,988,991. compared with £118.589.348 on April 24, an Increase of £1,399.643. The total of demand and time liabilities elsewhere than in New Zealand was £1127,788. an increase of £30,845. The banks’ excess of assets over liabilities was £20,106,338, an Increase of £2,268,750. Reserve balances of the six banks totalled £37,050,500, an increase of £5.721.372 , t , Government securities held by the banks total £'36.143,193. an increase of £968. Other securities nt £2,529.675. have increased by £174,835. Fall in Advances. Aggregate advances on May 29 were £15,209.597, a decrease of £624,046. Aggregate discounts at £158,7’17 were £130,022 lower. The total of advances aud discounts was £45,308,314. a decrease of £774.068. The excess of demand and time liabilities over advances and discounts was £74.620.677. compared with £72.446,966 on April 24 and £67,917,075 on March 27. The ratio of advances and discounts to total deposits on May 29 was 37.810 per cent., compared with 38.909 per cent, on April 24, 40.846 per cent, on March 27, 36.310 per cent, on February 28. 37.682 per cent, on January 31. and 39.802 per cent, on December 27. The aggregate unexercised overdraft authorities on May 29 amounted to £37.182,815. an Increase of £1,120,259. The total of advances and discounts and unexercised overdraft authorities on May 29 totalled £82,551.129, an increase of £346.191. , „ „ The active note circulation on May J) was £31.906,622, compared with £31,591,106 on April 24, an increase of £15,516. STOCK EXCHANGE Sales In New Zealand Dealings In stocks and shares recorded on New Zealand Stock Exchanges yesterday were as follows, the number of shares In each lot being shown iu, the case of

Inscr. Stock, 24 per ceut„ 1/8/46 £99 17/6; ditto, 24 per cent., 10/9/4i. £JOA)/•, ditto, 24 per cent., 15/6/4i-10, £9B; ditto, 3 ner cent. 15/9/52-35. £99/5/-; ditto, 3 per cent.. 15/12/53-t»6, ,-£96/7/6;. ditto, 3 pe* cent., 15/4/60-63, £9B/2/6: Bank ot £ £2/5/-: E.S. and A. Bank. £4/7/-; Farniers* Auct., £5/2/6; N.Z. £4 fl/-- South British Insurance, £4: Kauri Timber. £l/8/9; Bycrofts £?/Wb: I' 3 /,; mere' Trading, £l/6/-; G. J. Coles, £» 6/-. Unofficial list: National Tobacco. £1 15/-. CHRISTCHURCH. Inscr. Stock, 3 per cent.. 15/4/00-63. £9B 5/-; ditto, 4 per cent., 15/6/.>2-tw, £ I<X>, ditto, 4 per eent., 15/5/49-52, £lO4/0,-; Dunedin Drainage Board, 1) per cent., 1/4/59. £l/0/6: National Bank of N.Z. (-), £2/44/-: N.Z. Loan and Merc., £7l: Bptish Tobacco, £2/11/-; B™ken BAI (•’) £2/5/9; Claude Neon (N.Z.), £l/0/5» G.’.l. Coles. £3/6/-: Macduffs Ltd. (41, 17/9- M.K. Manufacturers, 7/7: Maori Gold, 4»d.i Mt. Lyell. £l/12/3. DUNEDIN. Inscr. Stock.*24 per cent., 15/6/47-49, £97 17'6: ditto, 2J per cent.. 1/10/53, £.95; N.Z. Insurance. £4,*9/0; South British Insurance, £4; Wellington Woollen, £9/10/-. Bulolo Dredging Area At the annual meeting of Bulolo Gold Dredging, Limited, in Vancouver, the chairman stated that apparently some shareholders were under the impression that Japanese-forces were for some time in physical occupation of the Bulolo dredging area. This, however, was not, so. as all enemy attacks ou the company’s property had been made by aerial bombing.

(a) Demand liabilities in N.Z. £ ♦S9.S 16.713 (bi Time liabilities in N.Z 30.112,278 (c) Demand liabilities elsewhere than in N.Z. Incurred in resped of N.Z. business 539,640 (d) Time liabilities elsewhere Ilian in N.Z. incurred in respect of N.Z. business 88,148 (rn) N.Z. business—excess of assets over liabilities 20,100,338 Tntn 1 £ 1140.723.117 •Including transfers from Bank of New Zealand's long-term mortgage fund of £80,633. ASSETS. (c) Reserve balances held in the Reserve Bank of N.Z 37,050,500 (f) Overseas assets in respect of N.Z. business— (1) In London 10,000,571 (2) Elsewhere .......... 1,880.453 (?) Subsidiary coin tn N.Z. ... 718,320 (ID Aggregate advances in N.Z. 45,200,507 (h) Aggregate discounts in N.Z. 158,717 (j) Reserve Bank of N.Z. notes 5,124 ,.831 (k) Securities in N.Z.— (1) Government ........ 30,143,193 (2) Other than Govt 2,529.675 (1) Value of land, buildings, 1.967.260 £140,723,117 (hh) Aggregate unexercised overdraft authorities ; £37,182,815 Overseas Funds Decrease.

Wellington. WELLINGTON. No. of -1 shares. Sale £ price. 8. a. £500 Inser. Stock, 2« per cent.. 05 1/10/53 0 0 £600 ditto, 3 per cent., la/9/5290 5 0 £500 ditto, 3 per cent., 15/12/53as 7 6 150 Bank of N.Z 5 0 2 N.Z. Loan and Merc 71 10 0 100 Kauri Timber 8 9 9 o li 0 *57 17 6 0 10 3 0 17 9 •1 0 2 12 ItM) Aft T.vpII 1 3 $ *Late sale Wednesday AUCKLAND.