RECORDS BROKEN
Circulation Of Credit In Britain LONDON. January 8. The year 1942 broke all records for the circulation of credit in Great Britain. Bills and cheques passed through bankers’ clearing houses amounted to £48.657.000.000 sterling, an increase of 13 per cent., compared with .1941. and 8.3 per cent, above the previous record during the stock exchange boom vear, 1929. Ono result of (he expansion of credit is an increase in bank profits. The floating debt return for December 31 for the first time passed the 4.000.000,000 mark, with a rise of £97,000,000 in December to £4,029.000.000 sterling. Shaking off holiday influences, the stock markets made a flying start for the new year. The Stock Exchanges, which are enjoying greater activity than for some time, ended the week on the top note. Gilts pul up a strong showing with sizeable rises, but. investors are showing a tendency to se* 1 !; the higher yields obtainable elsewhere, especially hiiioii", home r;iii.> and banks.
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Bibliographic details
Timaru Herald, Volume CLIII, Issue 22477, 12 January 1943, Page 3
Word Count
161RECORDS BROKEN Timaru Herald, Volume CLIII, Issue 22477, 12 January 1943, Page 3
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