LONDON SHARE INDICES.

Evening Post, Volume CXXXIV, Issue 76, 26 September 1942, Page 9

LONDON SHARE INDICES.

(By Telegraph—Press Association—Copyright.) (Rec. 8.30 a.m.) LONUOIV Sept. 25. "Financial Times" indices (1926 equals 100) :— Govt. Home Indus- Goldsec's. rails, trials, mines. Sept. 5 114.6 57.6: 105.8 143.7 Sept. 22 114.1 59.8 106.6 146.7 Sept. 23 ;. 114.1 59.9 106.9 147.2 Sept. 24 114.2 60.0 107.5 148.5 DOW JONES SHARE AVERAGES. (Rec. 8.30 a.m.) XEW YORK, Sept. 25. Dow Jones (1926 equals 100) :— 20 30 Shares Rails. Indus. sold. Sept. 2 26.00 106.49 270.00U Sept. 22 26.96 107.59 522.00 ft Sept. 23 27.08 103.27 701,000 Sept. 24 27.41 IOy.U 851,000 RISING NOTE CIRCULATION. Active bank-note circulation as reported by the Reserve Bank as at the last Monday in May of each year has increased since the war, from £11,565,000 for 1939 to £20,699,000 for 1942. Included in these totals are trading banks' notes outstanding, 1939, £427,000, and 1942 £388,000. Trading banks' notes are a liability of the Reserve Bank. MINING RETURNS. GREYMOUTH, This Day. The Snowy River return for the week was 106oz for 98 hours' working from 15,000 yards. The Maori Gold return was 220z for 108 hours from 11,500 yards. DIVIDENDS ANNOUNCED. Xew Zealand Guarantee , Corporation dividend, l%d a share, free of social and national security tax, October 3; Bycroft Ltd., Aucklanid, interim 4 per cent., payable November 13. GOLD DREDGE RESULTS. The Stock Exchange is advised by Wellington Alluvials Ltd. (New South Wales) that the dredge worked 489 hours, handling 216,000 yards, recovering 610oz fine gold (estimated). Maori Gold return was 220z for 108 hours and 11,500 yards. BUSINESS IN BRIEF. Shortage of man-power is keenly felt by the British banks. Mr. Xorman Crump, the wellknown writer on finance, remarks on the difficulties of local managers to maintain their normal degree of efficiency. Closure of branches is but a partial solution, for there is no corresponding reduction in the number of cheques to be cleared. On the contrary, "coupon banking" has thrust fresh duties on branches. The idea has been mooted that the public might draw fewer small cheques. Apart from the risk of sending currency through the post, this change would mean an immediate increase in the note circulation, and so raises important questions of policy. The continued rise in employment in Canada, reports the Bank of Nova Scotia, increasingly reflects mounting production in war manufacturing. Significant recent increases in employment have been in shipbuilding, where the gains continue to be very large, chemicals, including explosive plants, and agricultural implements and electrical apparatus, which are becoming largely war industries. The garment industry is the chief "peacetime" trade where gains continue, and demands for military clothing are very significant. Mr. T. H. Kelly, chairman Perpetual Trustee Co., Ltd., Sydney, referring to death duties, said that the Commonwealth Government would be wise to reintroduce the provision permitting acceptance of the surrender of Commonwealth bonds at par value in payment of Federal estate duty. This would popularise loans among people desirous of providing for I death duty in such a form as would ensure their liquidity at par when required for that use.

Mr. W. A. Ince, chairman Claude Neon Industries Ltd., reported for the year ended June--30 a loss of £16,711 due to rental adjustments. No dividend was declared. Xet profit 1940----41 was 10 per cent.

Norfolk Co-op. Dairy Co., Waikato, paid out to suppliers 15.39! M a pound of butterfat, including dividend. This was among the highest, payouts in the district. Through a diversion of milk from butter to cheese the output of the company was a record.