THE RESERVE BANK
INCREASE IN NOTE ISSUE FALL IN DAIRY ADVANCES (By Telegraph.—Press Association, WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, May 23, was gazetted to-night. The statement is balanced at £27,241,440, or £474 less than the previous week. An increase of £427,468 in the level of the banks' deposits is largely offset by a fall of £338,657 in Government deposits. There has been an Increase of £59,593 in the value of the note issue, while other demand liabilities have fallen by £150,785. A further Increase, to the extent of £293,009, has taken place In the value of the sterling exchange reserve since the last previous return. Advances on account of exported produce are lower by £330,437. The statement with variations compared with the week before is as follows
Liabilities Variation l. General reserve i.sno.ono Same 2. Bank notes .... 14,001,12.1 3. Demand liabilities— 15 9,593 (a) State 4,089,657 (b) Banks .... 7,128.404 t 4 2 7,’468 (C) Other 224,966 -150,785 6. Other liabilities 297,232 11,907 Total 27.241,4 4 0 Assets -474 7. Reserve— (a) Gold 2.801.791 <b; Sterling Ex. 18,121.614 Same + 203.009 8. subsidiary coin 227,010 -783 10. Advances— 1. Dairy Industry Account .... 3,253,926 -330.4.37 11. Investment ... 2,735,565 13. Other assets .. 101.534 + 37,737 Total 27,24 1.440 -474 Proportion of reserve to notes and other demand liabilities, 82, cent. (81.073 last week'. 232 per
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Waikato Times, Volume 122, Issue 20509, 27 May 1938, Page 11
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226THE RESERVE BANK Waikato Times, Volume 122, Issue 20509, 27 May 1938, Page 11
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