RESERVE BANK RETURN
NOTE ISSUE STILL EXPANDING ADVANCES " FOR OTHER PURPOSES " UP £050,000 LITTLE CHANGE IN LONDON BALANCES The weekly statement of assets and liabilities of the Reserve, Bank of New Zealand as at the close of business on September 25 is balanced at £33,370,919, against the previocus week’s balance of £32,639,699. " 1 FEATURES IN RETURN. London funds are £12,308 higher. Reserve' ratio has dropped to 25.822 par cent., the lowest since May 29. Advances to the Marketing Department are lower by £176,616, but advances “ for other purposes ” are more by £630,000, the figure now standing at the high level of £16,250,000. Note Issue continues to expand, a rise of over £220,000 bringing the figure to 18,647,695. The figures at the close of the preceding week'are given with this week’s return for '■ f purposes of comparison, shillings and pence being omitted. LIABILITIES.
The statutory minimum of the reserve ratio is 25 per cent. DIVIDENDS AND CALLS LIST. DIVIDENDS PAYABLE. ■ Felt and Textiles —5 per cent., making 10 per cent, per annum Sept. 30 British Tobacco Co. Ltd. —Quarterly ord., 2 per cent. (September 9) .; .. ..; Sept. 30 Dunlop Perdriau Rubber —Finals cum pref., 5 per cent., making 10 per cent., and ord. 3J per annum respectively (September 14) ... Sept. 30 Barnet- Glass Rubber—Finals cum pref., 6 per cent., and ord., 84 per cent., making 10 per cent, and 12i per cent, per annum respectively ... Sept. 30 N.Z. Newspapers Ltd. —Interim, 8d a share Oct. 2 Wairarapa Farmers’ Co-op.— ' Pref. 3i per cent, per annum Oct. Z Hume Pipe (Australia) Ltd.— Final ord. and pref., 3J per cent, per annum, making "i per cent Oct- 2 Nestles and Anglo-Swiss Condensed Milk (Australasia) Ltd.—Quarterly pref. at 8 per cent, per annum Oct. Z Bank of Australasia—lnterim 3s 6d per share (less British income tax, September ID Oct. 6 Woolworths (N. 25.) Ltd.—Halfyearly ord., 6 per cent., Sep-' {ember 24) Oct. 15 Woolworths Ltd., Sydney—Halfyearly ord., 6 per cent. (Beptember 24) Oct. 15 (Dates in parentheses signify the closing of. transfer books and registers.) CALLS DUE. G. J. Coles—10» a »h»re, making 1 Sl paid ‘ Jan. IS
MINES AND METALS BULOLO For the month of August the total gross production of Bulolo Gold Dredging Limited amounted to 19,7740 z of bullion, containing • 13,6450 zof fine gold, from 1,609,000 cubic yards of material. This production is equivalent to £119,394 on the basis of £8 15s (Australian) per fine ounce of gold.
PLACER DEVELOPMENT LTD. For three months to September 1, Pato Consolidated Gold Dredging Limited dredged 4.004,000 cubic yards for a recovery of 12,6710 z of fine gold, and recovered with its hydraulic units 1,9470 z of fine gold, the value of the total production being 511,630d01. During the same period Asnazu Gold Dredging Limited handled 199,000 cubic yards, recovering 2.5990 z fine gold, equivalent to 89,656d01. AUSTRALIAN STOCK EXCHANGES INVESTMENT MARKET DULL Press Association—By Telegraph—Copyright SYDNEY, September 28. On the Stock Exchange the investment market was dull but steady. —Morning Sales.— £ s. d.
Last 'week. This week. £ £ 1. General Reserve Fund 1,500,000 1,500,000 2. Bank notes ... 16,422,533 16,647,695 3. Demand liabilities— (a). State . 1,528,351 1,794,537 (b) Banks 12,249,234 12,573,619 (c) Other 419,951 341,495 4. Time deposits — 5. Liabilities’ in currencies other land- currencies 28.312 15,388 6/Other liabilities ■ ■ 491,319 - 497,185 . Total £32,639,699 £33,370,919 ASSETS. 7, Reserve— (a) Gold ... ... . 2,801,839 • 2,801,839 (b) Sterling exv change; 5,299,372. 5,311,680 (c) Gold exchange — — 8. Subsidiary coin 245,291 240,442 9, Discounts — . (a) Commercial and agricultural bills ?— . (b) Treasury and local body bills. •■T JO. Advances — (a) To State or State ' under- • takings— (I) Primary Products Mar- . keting Department 4,769,883 4,593,267 (2) For other purposes 15.600,000 16,250,000 (b) . To other public authorities — (c) Other ... —- — 11. Investments ... 3,820.372 ' 3,816,124 12. Bank buildings - — — 13. Other -assets ... ' 102,442 357,568 Total £32,639,699 £33,370,919 Proportion of reserve . 7 lest No. 5) te”otes and other demand liabilities 26.365 p.c. 25.822 p.c. Sterling exchange is expressed m New Zealand currency. RANGE OF MOVEMENTS. The movement of the sterling exchange held bv the Reserve Bank of New Zealand since December, 1931 and of the ratio perceniaze of reserve to notes and other demand liabilities are shown in the following table;— Sterling Reserve exchange ratio £ (N.Z.) per cent. 1937. Dec. 27 16,992,748 70.323 1938 Aug. 29 13,695,000 67.2 11,449,447 60.785 Oct. 31 7,707,697 46.09 4,828,302 32.685 ».Including Treasury bills ' Dec. 26 ... ... • 4,678,233 ■ 27.882 1939. 4,017.232 26.13 Jan. 9 3.933,851 25.526 4,373,105 26.782 4,395,525 26.695 , Jan. 30 ... ... 4,133,586 25.75 Feb. 1 6 1 ... ... 4,074,954 25.047 Feb. 13 4,164,499 25.073 Feb. 20 ... ... 4,523,030 25.378 Feb; 27 4,839,555 25.799 ' March S ... 4,705,897 25.017 March 13 4,591,685 25.026 March 20 ... . 4,547,863 25.129 March 27 4,659,874 25.419 April 3 ... ... 4,663,309 25.924 April 10 ••• ... 4,598,651 25.501 April 17 ... ... 4.872,81? 29.305 April 24 4,639,061 25.11 May 1 4,817,992 28.815 May 8 ■ 4,708,705 25.722 May 13 ... .. 4,695,194 25.499 May 22 4,758,544 25.611 May 29 4.554,205 ' 25.136 June 5 5,882,307 29.655 5,773.667 29.591 June 19 5,793,195 30.985 June 26 5,600,691 30.249 July 3 ... ... 5,690,003 • 31.329 July 10 5,556,796 30.805 July 17 5,589,074 30.379 July 24 5,596,010 28.852 July 31 5,576,957 28.132 Aug. 7 5,150,954 26.795 Aug. 14 ... ... 5,431,119 28.026 ■' Aug. 38 5,690,208 28.112 Sept. 4 •; 5,271,810 26.456 Sept. 11 ... ... 5,681,357 27.658 Sept. 18 5,299,372 26,365
Commonwealth Bonds— 3 p.c., 1948 93 11 3 3J p.c., 1951 98 5 0 4 p.c., 1941 ... ... ... 101 5 0 4 p.c., 1955 ... 100 10 0 4 p.c., 1957 ... 100 15 0 4 p.c., 1959 ... 101 5 0 4 p.c., 1961 ... 100 1 3 Tooth’s ... 2 8 6 .■ —Afternoon Sales.— Commercial Bank of Australia 0 14 2 Associated News 0 16 3 British Tobacco ... 2 4 6 Tooth’s ... .... ... 2 8 6 Woolworths 1 0 9 Australian Consolidated Industries 1 13 9 (rights) 0 4 4 Kandos ... ... 1 7 9 Mort’s Dock ... 0 15 6' Traders Finance ... 1 0 0 Colonial Sugar 44 17 6 Carpenter 2 0 6 Goldsbrough, Mort 1 9 3 Henry Jones 2 12 6 Electrolytic Zinc ... ... 2 14 0 Mount Morgan ... 0 9 1 Mount Lyell 1 9 4 Broken Hill Proprietary ... 3 7 0 (new) ' 0 16 10 South Broken Hill 1 8 3 Oil Search ... 0 3 0 The Melbourne Exchange was closed owing to the Royal Show holiday.
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Evening Star, Issue 23384, 29 September 1939, Page 10
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1,031RESERVE BANK RETURN Evening Star, Issue 23384, 29 September 1939, Page 10
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