Mar. 18] THE NEW ZEALAND GAZETTE 319

CLIMATOLOGICAL TABLE—continued

Summary of the Records of Temperature, Rainfall, and Sunshine for February, 1948—continued

NOTE.—At stations where departures from normal are in parentheses the record has been maintained for less than ten years in the case of temperatures and for less than twenty years in the case of rainfall and the normals are partly interpolated.

NOTES ON THE WEATHER FOR FEBRUARY, 1948

General.—February was a warm sunny month with low rainfall. In the North Island especially, burnt pastures have meant a sharp decline in dairy production and a lack of feed for fattening stock. The most serious effects of the lack of rain were being felt in the southern and eastern portions of the North Island, where rainfall has been well below average in each of the past four months.

A feature of the month was the absence of strong winds, while in Wellington the average wind speed was the lowest for any February since 1886.

Rainfall.—The greater part of the North Island received less than a quarter of the average rainfall. Nelson and Marlborough also had very little rain. Totals were slightly above average on the Canterbury Plains, in the far south-west, and in some districts of Otago.

Temperatures.—Mean temperatures for the month were mostly above average, though by relatively small amounts. Slight negative departures were recorded in the south, also in Christchurch and in parts of Hawke’s Bay and Marlborough.

Sunshine.—The amount of bright sunshine was slightly below the average in the Gisborne and North Auckland districts, and in Otago and Southland; elsewhere totals were above average. Over most of the North Island and in Buller and Marlborough the excess was equivalent to an hour a day and in Manawatu almost two hours a day.

Weather Sequence.—At the start of the month rain had commenced in the south, and the weather was steadily deteriorating elsewhere as an extensive depression slowly approached the South Island from the north-west. A new depression formed off Canterbury on the 3rd and moved away rapidly to the south-east, while the original centre turned north-eastward and filled up next day near Auckland. Cold southerlies then prevailed, but the weather soon cleared from the south. On the morning of the 6th frosts and local fogs were reported from many places in the South Island.

South-westerlies freshened temporarily over much of the North Island under the influence of a dying tropical cyclone which passed about five hundred miles east of Gisborne on the 7th. A cold front crossed the country from the south-west during the 8th, being followed by a period of showers and a change to cold south-westerly winds.

Moving in from the west an anticyclone gave a rapid clearance, and the weather remained settled until the 15th. One weak trough, however, produced a few showers over the southern half of the South Island on the 11th.

On the 15th a cold front advancing northwards reached only as far as Hawke’s Bay, skies becoming overcast in its wake and widespread drizzle developing for a time in the South Island.

On the 17th anticyclones were centred east of Canterbury and west of Auckland, while a deep depression was passing to the south. The cold front associated with this depression produced heavy rain in and west of the main ranges, but negligible amounts in Canterbury, Hawke’s Bay, and Gisborne.

After a temporary clearance on the 19th the weather was rather unsettled until the 24th, most districts receiving rain in useful amounts, the chief exceptions being Hawke’s Bay and the Wairarapa. During this period four cold fronts travelled north-eastwards over the country with their accompanying rain bands. As the last and most active of these passed the Cook Strait area a depression developed and moved off to the south-east.

An anticyclone then advanced on to the southern part of the country and cold southerlies became general, slight frosts occurring in the South Island for several nights. With a disturbance of tropical origin lying to the north-east, winds turned easterly in the north, bringing light showers to the Auckland Peninsula and the Gisborne district. Temperatures became steadily warmer and the weather remained fair elsewhere, except on the West Coast, where rain fell intermittently on the 28th and 29th as a deep trough from the west drew slowly nearer.

M. A. F. BARNETT, Director.

RESERVE BANK OF NEW ZEALAND

STATEMENT OF ASSETS AND LIABILITIES OF THE RESERVE BANK OF NEW ZEALAND AS AT THE CLOSE OF BUSINESS ON WEDNESDAY, 3RD MARCH, 1948

Liabilities

1. General Reserve Fund .. .. .. £ 1,500,000 0 0
2. Bank-notes .. .. .. 49,176,520 0 0
3. Demand liabilities—
   (a) State .. .. .. 20,435,599 18 11
   (b) Banks .. .. .. 54,259,014 10 5
   (c) Other .. .. .. 396,168 6 7
4. Time deposits .. .. .. ..
5. Liabilities in currencies other than New Zealand currency .. .. .. 61,368 10 9
6. Other liabilities .. .. .. 3,600,802 7 4

£(N.Z.)129,429,473 14 0

Assets

7. Reserve—
   (a) Gold .. .. .. £ 2,801,879 10 0
   (b) Sterling exchange* .. .. 72,628,720 14 9
   (c) Gold exchange .. .. ..
8. Subsidiary coin .. .. .. 127,053 17 0
9. Discounts—
   (a) Commercial and agricultural bills .. ..
   (b) Treasury and local-body bills .. ..
10. Advances—
    (a) To the State or State undertakings—
    (1) Marketing organizations .. 4,556,400 14 8
    (2) For other purposes .. 39,000,000 0 0
    (b) To other public authorities .. ..
    (c) Other .. .. .. 1,035,412 18 6
11. Investments .. .. .. 7,868,093 2 11
12. Bank buildings .. .. .. ..
13. Other assets .. .. .. 1,411,912 16 2

£(N.Z.)129,429,473 14 0

• Expressed in New Zealand currency.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 60·65 per cent.

W. R. EGGERS, Chief Accountant.