THE MONEY MARKET

Sun (Auckland), Volume IV, Issue 1028, 19 July 1930, Page 11

THE MONEY MARKET

BANK OF ENGLAND WEEKLY RETURN LONDON, Thursday. The Bank of England return is as follows : Issue Department Notes In circulation .. ... .. £365,120,700 In banking department .. 50,358,582 Total £415,479,281 Government debt £11,015.100 Other Government securities 232,891,334 Other securities 11,629,018 Silver coin 4,464,548 Amount of fiduciary issue £260,000,000 Gold coin and bullion . . .. 155,479,281 Total £415,479,281 Banking Department Proprietors' capital 14,553,000 Rest .. 3,510,477 Public deposits 10,396,642 Other deposits, bankers .. 69.587,620 Other accounts 35,505,672 Seven-day and other bills . 2,194 Total £133,555,605 Government securities .. .. £55,695,547 Other securities, discounts, advances 6,217,583 Securities 20,391,747 Notes 50,358,581 Gold and silver coin .. .. 892,147 Total £133,555,605 The principal items of the above return compare as follows with those for last week, the proportion of the reserve being shown in the last line: Deposits— July 9. July 16. Public .. .. £9,264,376 £10,396,642 Bankers .. .. 69,532,815 60,587,620 Other accounts 36,237,106 35,505,672 £115,034,297 £115,489,934 Securities — Government . 54,125,547 55,695,547 Advances, etc. 6,265,564 6,217,583 Other .. .. 19,910,875 20,391,747 Reserve .. .. .52,781,828 51,250,728 Note circulation 363,803,626 365,120,700 •Coin & bullion 156,585.454 156,371,428 Proportion .. .. 45.80 44.20 •July 17, 1929, £159,252,000; 1930: Maximum, May 7, £164,502,391; minimum, January 1, £146,502,391. Short Loans and Bills The Bank of England rate of discount is 3 per cent., to which it was reduced on May 1, from 3J per cent. Short loans are quoted at 2 per cent., same as last week. The market rate of discount for best three months’ bills is 2 3-8 per cent., as compared with 24 per cent, last week. FOREIGN EXCHANGES The following rates on foreign exchanges are current today, compared with the cabled quotations on July 15 and par:— July 17 July 15 Par. Montreal, dol. .. New York, dol. . 4.862 4.86* 4.866 Paris, fr 123.58 123.62 124.21 Brussels, belga .. 34.805 34.815 35.00 Geneva, fr 25.014 25.03 25.22 Amsterdam, fi. . 12.08 g 12.09 3 2.10 Rome, lire .. .. 92.87 92.87 92.46 Berlin, r.m 20.73 20.385 20.43 Stockholm, kr. .. 18.094 18.10 18.159 Oslo, kr 18.164 18.16 18.159 Copenhagen, kr. . 18.16 18.16 18.159 Vienna, sch 34.43 34.455 34.584 Prague, kr 364 1-16 164 24.02 Helsingfors, mark 1934 1934 192.23 Madrid, pes. . . . 41.75 42.05 25.224 Lisbon,, escu. .. 108.25 108.25 Athens, dr. .. .. 375 375 375.00 Buckarest, lei. .. 818 818 25.224 R. de Janeiro, m. 5 13-32 5 15-32 B. A*ves, dol. .. 40 17-32 40g 47.57 d Calcutta, rupee . 17 63-64 17 27-32 18d Shanghai, tael .. 17| 174 Hong Kong, dol. 154 154 Yokohama, yen . 24 11-32 24g 24.58 d Batavia, fl. . . . . COLONIAL STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of July 10: VariaPrice. tion. _ £ s. d. s. d. Consols, 24 per cent. . . 55 17 6 2 61Funding Loan, 4, 1960-90 91 2 6 2 6t War Loan, 5, 1929-47 .. 103 12 6 7 61Conversion Loan, 34 . . 79 15 0 10 Of Victory Bonds, 4 95 7 6 10 0t Com’wealth, 5, 1945-75 89 5 0 15 0* Com’wealth, 6, 1931-41 . 99 15 0 10 0* Victorian, 3, 1929-49 .. 64 0 0 10 Ot Victorian, 3i, 1929-49 .. 69 7 6 2 6+ Victorian, SA, 1930-40 .. 96 5 0 2 6+ Victorian, 5, 1932-42 . . 90 0 0 12 6* Victorian, 4g, 1940-60 .. 80 15 0 42 6* N.S.W., 4, 1933 93 17 6 2 6+ N.S.W., 3, 1935 87 0 0 15 0t N.S.W., 34. 1930-50 .... 68 15 0 Same. N.S.W., sg, 1922-32 .. 98 12 6 2 6* N.S.W., 64, 1930-40 .. 99 10 0 Same. N.S.W., 6, 1930-40 .. 98 5 0 40 0+ Queensland, 5, 1940-60 .. 87 2 6 10 0* Queensland, 3, 1922-47 .. 63 15 0 5 0* Queensland, 6, 1930-40 . 97 7 6 17 6* N.Z., 4J, 1948-58 95 5 0 5 0* N.Z., 34, 1940 89 15 0 8 9+ N.Z., 3, 1945 81 12 6 10 0+ N.Z., 6, 1936-51 103 15 0 7 6+ S. Australia, 34, 1939 .. 82 15 0 5 0+ S. Aus., 3, 'l6 or after S. Aus., 64, 1930-40 .. Tasmania, 34, 1920-40 .. 80 5 0 15 0+ Tasmania, 3, 1920-40 . . 79 0 0 10 0* Tasmania, 64, 1930-40 . . 100 0 0 30 0+ W. Aus., 3J, 1929-35 .. 87 10 0 Same. W. Aus., 3, 1915-35 ..S 5 5 0 10 0* W. Aus., 6, 1930-40 . . 97 5 0 15 0* f Higher. * Lower.