METEORIC RISE.
Artificial Silk Shares' Jump. BIG FORTUNES MADE. LONDON, June 26. ■ A meteoric rise in quotations on the Stock Exchange for British Celanese [ Company's shares, from 19/ to 36/ each I within two days, surprised members of t inner circles of the Stock Exchange, who were taken completely off their guard., » In January last the company's shares . were quoted at 5/9 cach, and last year f they could have been bought at 2/6 each. : In informed circles the opinion is that j this "skyrocketing" is due to a "squeeze 3 of the bears." Recently many speculators sold shares which they did not , possess hoping that they might buy 1 their requirements later at lower prices. Heavy purchases of the scrip which » occurred early in May rendered the shares scarce, and the "bears" therefore were compelled to vie with one another r to obtain possession of their needs. 1 The "Evening News" expresses the 5 opinion that Dreyfus Bros., who were Q amongst the big buyers last month, a have had their fortune augmented since List Saturday bv £1,000,000.
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Auckland Star, Volume LVIII, Issue 155, 4 July 1927, Page 7
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179METEORIC RISE. Auckland Star, Volume LVIII, Issue 155, 4 July 1927, Page 7
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