BANK RETURNS

Sun (Auckland), Volume IV, Issue 946, 12 April 1930, Page 11

BANK RETURNS

NO REASON FOR CONCERN LIBERAL ADVANCES The banking returns for the past quarter, critically analysed and compared with 1929, are not so unsatisfactory as expected; on the I contrary, in some respects, they ! are really satisfactory and, were it not for the inevitable pressure from Australia, the position today would cause no concern. Nor is there in reality any reason for anxiety, for the banks have taken timely steps to keep the country's credit sound. The salient features of the returns, as compared with the March figures of last year, are: Govt, deposits increased by £691,647, free deposits decreased by £1,830,921, fixed deposits increased by £ 485,667, advances increased by £7,271,832, discounts increased by £45,202, circulation increased by £46,144, coin and bullion decreased by £614,323. The Government deposits totalled £3,406,086, against £2,864,439 last year, showing a small gain.

BANK OF ENGLAND WEEKLY RETURN LONDON, Thursday. The following is the Bank of England return: Issue Department Notes issued in circulation £359,250,232 In bank department .. . . 60,578,916 Government debt 11,015,100 Other Government securities 232,987,196 Other securities 11,537,677 Silver coin 4,460,027 Amount, of financiary issue 260,000,000 Gold coin and bullion . . . . 159,829,239 Banking Department Proprietors’ capital 1 1,553,000 Rest .. 3,727,832 Public deposits 18,422,477 Other deposits, bankers . . 62,833,897 Other accounts 37,358,126 Seven-day and other bills . . 2,471 Government securities . . . . 54,021,909 Other securities, discounts, * advances 23,015,858 Notes SS, 923,507 Gold and silver coin .. .. 936,529 The principal items of the above return compare as follow with those for last week, the proportion of the reserve being shown in the last line: —

SHORT LOANS AND BILLS The Bank of England rate of discount is 3£ per cent., to which it was reduced on March 20 from 4 per cent. Short loans are quoted at per cent., same as last week. The market rate of discount .or best three months’ bills is 2 15-32 per cent., as compared with 2 11-32 per cent, last week. COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of Arvril 2:—

Deposits— April 2 April 9 Government . £18,422,477 £15,167,701 Bankers . 62,838,897 65,251,317 Other accounts 37,358,126 36,657,417 £118,614,500 £117,076,435 Securities— Government . £54,021,909 £55,861,909 Advances, etc. . 10,309,9496,288,218 Other .. .. . 12,705,909 11,063,311 Reserve .. . . . 59,860,036 61,531,155 Note circulation 357,265,456 359,250,323 *Coin and bullion 157,125,492 160,781,478 Proportion 50.40 52.50 ♦April 10, 1929, £160,311,000. 1930: Maximum, April 9, £160,781,478; minimum, January 1, £146,115,719.

Price £ s Variation cl a <1 Consols, 25 per cent. . 6 7 G* Funding Loan, 4, 1960-90 91 b 0 War Loan, 5, 1929-47 .. 1 03 0 0 Conversion Loan, S7» . . Victory Bonds, 4 . . 73 0 12 6* 94 10 0 Com’weaJth, 51, 1922-27 93 7 6* Com’wealth, C, 1931-41 . 100 Victorian, 3, 1929-49 68 0 0 Victorian, 3£, 1929-49 .. 0 0 20 0* Victorian, 51, 1930-40 .. 97 10 0 Victorian, 5, 1932-42 . . 91 J 7 6 Victorian, 4:1, 1910-G0 . . 87 L5 0 N.S.W., 4, 1933 94 15 0 5 0* N.S.W., 3, 1935 86 10 0 2 6f N.S.W., 31, 1930-50 .. . . 71 7 6* N.S.W., 53, 1922-32 . . . . 98 17 N.S.W., G 1, 1930-40 .. 100 7 N.S.W., G, 1930-40 .. . . 98 7 0* Queensland, 31, 1930 99 7 6 2 6* Queensland, 3, 1922-47 . . 67 10 0 30 0* Queensland, 0. 1930-40 „ 99 25. 0 S Of N.Z., 41, 1949-5S 17 6 N.Z., Si, 1940 89 12 6 N.Z., 3, 1945 79 0 0 Same N.Z., G, 1936-51 105 0 5 0* S. Australia, 31, 1939 . . 83 6 12 6* S. Aits., 3, M6 or aftei 54 10 0 5 0* S. Alls.. 61, 1930-40 , . 100 0 10 0* Tasmania, 31, 1920-40 . . 83 0 0 5 Of Tasmania, 3, 1920-40 . . 80 0 t) 20 0* Tasmania, 61, 1930-40 . . 101 0 0 W. Aus., 31, 1929-35 . . 87 0 0 W. Aus., 3, 1915-35 8G 10 0 W. Aus.. G. 1930-40 .. .. 100 fHig’her. ‘Lower. 0 0 7 G*