CANADA SOUND.
PANIC UNWARRANTED. (Received *2 p.m.) OTTAWA, October 29. ?"hcre is nothing in the general situation in Canada to warrant a panic on the stock market according to Government officials. The conditions, they say, are thoroughly sound and business is exceptionally good. Even if it only reverts to normal everything will be satisfactory.
Banking conditions -were never on a firmer basis. What is happening now is only a passing phase of this stock speculation on a margin. With so people in the market they have run up stocks to levels out of line with the interest. They will return when the structure gets top heavy and are bound to come down sooner or later.
The intrinsic value of Canadian stocks to-dav is just as liigli as a week or a fortnight ago. The whole future of Canada is ahead of these corporations, the same as it always was. The trouble is unwarranted and exceptional participation in the market by weak holders, operating on a margin and hoping to make easy money. The real conditions do not warrant any panic whatever.
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Auckland Star, Volume LX, Issue 257, 30 October 1929, Page 7
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181CANADA SOUND. Auckland Star, Volume LX, Issue 257, 30 October 1929, Page 7
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