SHARE MARKET INDICES

Press, Volume LXXXVI, Issue 26221, 19 September 1950, Page 9

SHARE MARKET INDICES

WORLD’S RECORD OIL OUTPUT Estimates of world oil output during the first six months of 1950 demonstrate clearly the decisive change in the international economic climate that had already taken place before the outbreak •of the Korean war, says the "Financial Times.” Production in May was, in fact, the highest on record, giving an annual rate of over 500,000,000 tons, compared with an actual output of about 468,000,000 tons laSt year. A particularly encouraging feature from the point of view of the sterling oil companies is that United States producers shared largely in this expansion. In 1949, while output in the non-dollar world, especially in the Middle East, continued to increase, United States domestic production was actually cut back by 24,000,000 tons. It will not have escaped notice that the temperature of the Anglo-American oil dispute has varied in inverse proportion with the absorptive capacity of the market that the United States producers serve at home. And now events outside the United States have helped to keep the thermometer moving steadily downward. Blackwater Mines.—Production for the four weeks ended September 8 was:— crushed, 1768 tons, yielding 5320 z gold.— (P.A.) *

New York.—Dow Jones (192€ i equals 100) Rails. Indus. Gold. January 31 .. 55.09 201.79 1,690,000 February 28 .. 55.34 203.44 1,310,000 March 31 .. 54.83 206.05 1,880,000 April 29 .. 56.07 214.33 1,160,000 May 31 .. 56.28 223.42 1,530,000 June 30 .. 52.54 209.08 2,660,000 July 31 .. 60.86 209.04 1,590,000 August 31 .. 62.90 216.87 1,330,000 Sept. 12 .. 64.44 218.10 1,860,000 Sept. 13 .. 66.76 223.42 2,600,000 Sept. 14 .. 66.87 224.48 2,350,000 Sept. 15 .. 66.74 225.85 2,410,000 London.—“Financial Times” (1926 equals 100) January 31 . 104.3 105.56 131.13 February 28 .. 105.4 . 104.66 130.92 March 31 .. 105.4 104.71 130.92 April 28 .. 107.2 105.17 128.03 May 31 .. 112.8 106.24 125.69 June 30 .. 111.9 105.40 113.45 July 31 .. 111.4 105.54 107.80 August 31 .. 113.5 107.13 110.44 Sept. 11 113.9 107.33 118.69 Sept. 12 .. 114.1 107.40 118.66 Sept. 13 .. 114.5 107.63 120.09 Sept. 14 .. 115.4 107.55 119.81 Sept. 15 .. 115.8 107.13 119.54