FINANCIAL NOTES.
While most departments of the Stock Exchange have simply been marking time, amidst the uncertainties of the outlook to which I refer in my weekly letter, quite a boomlet has characterized Rubber and Tea shares. In both directions the movement may be said to be justified by actual conditions, the price of rubber having risen a little, while stocks (under present restrictions) have declined, and the Tea companies are prospering. At the same time, it may be well to remember that the short supply of shares in both markets has occasioned prices to advance rather out of proportion to the actual volume of business. High-class investment stocks have also been very firm, but in that case the movement must, in part at all events, be connected with the general uncertainty to which I have referred.
* * The Chairman of Nobel Industries, Sir Harry McGowan, was able at the recent meeting once again to give a very satisfactory report to shareholders. This great combine now comprises some twenty-nine companies, and at the end of last year the total 'assets were valued at no less than £23,542,000, Investments alone standing at about £8,500,000. The balance-sheet is a good one, showing a surplus over liabilities, after providing for the issued share capital of the parent concern of over two millions and a-half, this representing an increase during the year
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