THE RESERVE BANK

Waikato Times, Volume 125, Issue 20916, 22 September 1939, Page 10

THE RESERVE BANK

RISE IN NOTE ISSUE DECREASE IN STERLING (By TeJ*BT*Dh.—PrM9 \s*orlnttoM WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, September 18, was gazetted to-night. The statement is balanced at £32,G39,G99, or £!G,250 more than at the close of the previous week. The sterling exchange reserve at £3,299.372 is £381,986 lower than on the previous Monday. The notes and demand liabilities arc very little altered in the aggregate. A decrease of £678,363 in the deposits of the trading bank is virtually balanced by increases of £317,308 in the note issue, £306,865 in Government deposits and £58,999 in other demand liabilities. The ratio is slightly lower at 26,365 per cent. While advances to the Primary Products Marketing Department are £336,772 lower, those for other purposes have increased by £750,000 to £15,600,000. The statement, with variations, compared with the week before is as follows: Liabilities

Total 32,639,099 146,250 Proportion, of reserve to notes and other demand liabilities, 2G.365 per cent (27.658 last week).

£ Variation General reserve .. 1,500,000 Same Bank notes 16,422,533 +317,308 Demand liabilities— State 1,528,351 +306,865 Banks 12,249,234 —678,363 Other 419,951 +58,990 Other currencies .. 28,312 +12,820 Other liabilities .. 491,318 +28,021 Total 32,639,699 +46,250 Assets Reserve— Gold 2,801,839 Same Sterling- exchang-e 5,299,372 -381,986 Subsidiary coin ... 245,291 —3,458 Advances— Marketing- 4,769,883 -336,772 Other 15,600,000 +750,000 Investment 3,820,87 2 Same Other assets 102,412 +18,466