27 MARCH

Weather Sequence--February commenced with an anticyclone over the Tasman Sea and low pressures to the east. On the 1st and 2nd southerly winds prevailed, with rain in most eastern districts besides Nelson, Wellington, and Manawatu. On the following day a ridge of high pressure extended across New Zealand from the anticyclone and the weather was fair. On the 4th the weather commenced to deteriorate in Northland with the approach of a tropical storm from the north-west. This storm weakened a little, and on the 5th and 6th as it passed to the east of Northland there was considerable rain in northern districts of the North Island besides Gisborne. Some rain was also reported over the remainder of the North Island and there were scattered falls in the South Island. On the following day the depression moved away to the east and conditions improved, although some rain was still reported, especially in Northland.

During the 8th and 9th a trough of low pressure crossed the South Island, causing rain in parts of the West Coast. At the same time a depression was approaching the North Island from the north-west and rain commenced again in Northland. During the following 2 days an anticyclone centred to the south-west of Southland moved eastward, while the depression to the north-west moved slowly towards North Cape. Rain spread over the remainder of Northland, commencing a period of 6 days (11-16 February) of very heavy rain, especially just north of Whangarei. From the 12th to the 15th the depression remained to the north of North Cape and the anticyclone moved to the east of the South Island. Persistent easterlies reached gale force at times in Northland, and the rain spread southward as far as Christchurch and Hokitika. There were some particularly heavy falls in Northland on the 14th, with flooding. During the 16th and 17th a tropical storm was centred near Raoul Island, the anticyclone lay to the east of the Chatham Islands, and a trough of low pressure moved over New Zealand from the west. The rain became fairly general, but conditions improved in Northland on the 17th.

On the 18th an anticyclone covered the Tasman Sea, but pressures were still low to the east. Rain was reported from most eastern districts, besides the area around Cook Strait, and the Bay of Plenty. The anticyclone showed little movement, and the depression remained almost stationary to the east. The 19th-21st were days of settled weather, but with cloudy conditions in the south-easterlies around Gisborne and Hawke's Bay. During the next 2 days another depression to the north-east of East Cape made its presence felt, causing rain in Gisborne and northern Hawke's Bay. At the same time a weak trough of low pressure brought some rain to coastal districts of Southland, Otago, and Canterbury.

During the 24th and 25th an anticyclone centred to the east of the South Island extended over the country and the weather was again settled. For the last 3 days of the month the weather was affected by a trough of low pressure which moved slowly north-eastward over the South Island.

NOTES ON THE WEATHER FOR FEBRUARY 1969

General--There was an unusually high frequency of easterly winds over New Zealand during February, bringing excessive cloud and rain to Northland and considerable cloud also to eastern districts of the North Island; while in inland South Island districts the weather was very dry and sunny. Throughout the country pasture growth was reported to be good. However, most fruit and vegetables were slow in ripening. In Gisborne and Hawke's Bay and even in most of Canterbury the weather was not suitable for harvesting.

Rainfall--Rainfall showed exceptionally wide variations. It was mainly less than half the average value in the South Island south of Hokitika and Ashburton, around Christchurch and Banks Peninsula, and in Marlborough, Wellington, and Southern Wairarapa. From inland South Canterbury to the Southern Lakes district many stations recorded less than a tenth of the average, including a record low total for February of 0.03 in. at Lake Tekapo.

By contrast, rainfall was more than double the average value in Northland, Coromandel, and the Tauranga - Te Puke area. Greatest excesses were recorded to the north of Whangarei, including Hikurangi; totals were up to about 32 in., 4-6 times the average value. Here more than three-quarters of the rain fell during the 6 days 11-16 February, amounting to 17-26 in. This was a period of persistent easterlies, and considerable flooding was reported.

Temperatures--Temperatures were mainly a degree below average. In eastern districts from Gisborne to Wairarapa together with Rotorua-Taupo they were 2-3 degrees below average. In the Alps they were 2 degrees warmer than average.

Sunshine--In eastern districts of the North Island and in Northland sunshine was up to 70 hours below average, Kerikeri receiving only 111 hours and Gisborne only 151. On the other hand, the West Coast and most inland South Island districts were favoured with up to 50 hours above average.

At the same time a small depression developed off the Westland Coast and moved north-eastward. Some rain was reported over most of the South Island, with heavy falls on the West Coast and in the Alps. By the night of 28 February-1 March rain was also falling in most northern and western districts of the North Island. A particularly heavy fall over a few hours caused serious flooding in New Plymouth.

J. F. GABITES, Director.

(N.Z. Met. S. Misc. Pub. 107)

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, 12 MARCH 1969

Liabilities

Notes in Circulation . . . . . $ 165,343,139
Demand deposits--
(a) State . . . . . . . . 45,034,092
(b) Banks . . . . . . . 104,753,835
(c) Marketing accounts . . . . 4,040,283
(d) Other . . . . . . . 56,368,621
Time deposits . . . . . . . . .
Liabilities in currencies other than New Zealand currency--
(a) Demand . . . . . 176,566
(b) Time . . . . . . 20,483,916
Other liabilities . . . . . . . 20,660,482
Capital accounts--
(a) General Reserve Fund . . 3,000,000
(b) Other Reserves . . . . 14,061,427

$418,887,987

Assets

Gold . . . . . . . . . $ 1,187,941
Overseas assets--
(a) Current accounts and short-term bills . . . . . . . . 47,995,861
(b) Investments . . . . . . . 43,306,897
New Zealand coin . . . . . . . . 4,609,721
Discounts . . . . . . . . . . . .
Advances--
(a) To the State (including Treasury bills) . . . . . . . 56,316,370
(b) To marketing accounts . . . . . 156,079,154
(c) Other advances . . . . . . . 22,467,835
Investments in New Zealand--
(a) N.Z. Government Securities . . 77,374,029
(b) Other . . . . . . . . . 147,000
Other assets . . . . . . . . . . 9,403,179

$418,887,987

H. T. NINNES, Deputy Chief Accountant.