THE RESERVE BANK

Waikato Times, Volume 125, Issue 20922, 29 September 1939, Page 10

THE RESERVE BANK

RISE IN STERLING DECREASE IN DAIRY ADVANCES (By Telegraph.—Press Association) WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, September 25, was gazetted to-night. The statement is balanced at £33,370,919, or £731,220 more than at the close of the previous week. The sterling exchange reserve, at £5,311,680, is £12,308 higher in value than it was the week before. As notes and other demand liabilities have risen substantially in the aggregate, the ratio has fallen from 26,365 per cent to 25,822 per cent. Advances to the Primary Products Marketing Department have decreased by £176,617, while those for other purposes are £650,000 higher. The statement with variations compared with the week before is as follows:

Liabilities Variation £ t General reserve .. l.500,nno Bank notes .. 1 6,6 47,605 1225,162 Demand liabilities— State . .. 1.704,537 t266,1S6 1324,385 Other currencies .. 16.388 Other liabilities ... 407.185 to,867 173 1,220 Assets reserve— Sterling exchange 5,311.630 112,308 Subsidiary coin Advances — 2 40,4 12 -4,849 Marketing .. . -176,617 1650,000 -4,748 Investment . .. . 3,816.124 Other assets . 357,568 + 255.126 Total ... 33,370,919 f731,220 Proportion of reserve to notes and other demand liabilities, 25.822 per cent (26.365 last week).