AUCKLAND STOCK EXCHANGE

Auckland Star, Volume XLV, Issue 186, 6 August 1914, Page 6

AUCKLAND STOCK EXCHANGE

NO NEED TO CLOSE. An enthusiastic body of men were the members of the Auckland Stock Exchange this momiug when they assembled for the first call. Tlie chairman (Mr. G. A. Buttle) after referring to the developments in Europe said: "Notwithstanding the position I am still of opinion that there is no need for us to close ou*- exchange. We have a duty to perform to our clients, and I bog you gentlemen to use your best efforts to calm the fears of" the timid holders of shares, and as far as possible to maintain a fairly normal condition of values of stocks. Gentlemen, let us act carefully, calmly, and courageously. ' °

"Speaking for ourselves, we in New Zealand arc a long way from tlie storm centre. In a very short time the enemy's cruisers in the Pacific will be accounted for, either by being driven into neutral ports, or captured by our own warships. The waterways will once more be open, and our ships (although possibly in restricted numbers I will be able to carry produce from New Zealand to Great Britain. AYe must remember that New Zealand is a producing country. We produce large quantities of foodstuffs, which will be required in Great Kritain. and I am sure that in two or three weeks' time our vessels will be carrying these products to (treat Britain. We shall be getting good prices, and the Dominion will still continue to prosper. (Applause.i Let mc conclude by asking you lo .-ing the National Anthem."

This was done lustily, and was foi lowed by three hearty cheers.