4 JANUARY 1930, Page 38


Naturally enough, the break in Stock Exchange activity , during the second half of 1929 occasioned a smart reaction in respect of capital creations. This is clearly shown in the interesting statistics compiled by the Midland Bank. For the first half of the year there was great activity in Loan and Capital issues indeed, for the first two months the figures were above those for the same months of the previous year. Later on came the check to flotations, and for the final month of the year the total of 25,283,000 marked the lowest figure for some few years past,_ For the entire year the total of capital issues in the country was 1253,749,000, as compared with 2302,519,000 for the previous year. This is the smallest total since 1926. Of last • year's flotations _ £159,000,000 (Continued on page 36.)

represented issues for use within the United Kingdom ; 210,000,000 was represented by issues for India and Ceylon ; 244,000,000 for use by other British countries, while Foreign Loans totalled about 240,000,000. -