WARNING TO INVESTORS.

Auckland Star, Volume LX, Issue 172, 23 July 1929, Page 4

WARNING TO INVESTORS.

EXCHANGE CHAIRMAN SPEAKS. MANY DOUBTFUL VENTURES. * • Speaking at the Auckland Stock Exchange to-day, the chairman, Mr. Geo. C. Creagh, made reference to the remarks made at the annual dinner of the Auckland Commercial Travellers and Warehousemen's Club. Mr. Wynyard had suggested that the Associated Chambers of Commerce might do something to give the investing public a lead as to sound, or unsound Investment scnemes, and so stimulate confidence that is at present lacking. Mr. Creagh said:— "We would like to point out to Mr. Wynyard and others who may be interested that there already exists a body, the Stock Exchange, the members of which body have had long experience in such matters, and are quite competent to give any lead investors may require as to which securities are sound or unsound. "There certainly are schemes which are advanced as investment propositions which would have no chance of meeting with the approval of members of the Stock Exchange, and which Avould receive very scant consideration from the Exchange committee. "I would again warn the investing public of the necessity that undoubtedly exists for consulting a member of tli'j Stock Exchange before investing in any of the numerous schemes brought under their notice either by advertisement or by plausible canvassers."