AUSTRALIAN SHARE MARKET.
ALL ROUND DECLINE. Further pronounced weakness has been shown by the Australian share market, J B Were and Son, in their circular letter dated November 29, report:— This has been instanced by market falls in a number of leading stocks, while in a number of other instances buying support has been withdrawn, although selling quotations have not been marked down. The banking section has suffered. National Bank £10 paid (ex dividend 10/) have fallen from £18 to £17 2/, Commercials from 27/6 to 26/9, and Queensland Nationals are down to £8 12/. Among classified investments Goldsbrough Morts are easier, and rights to the new issue at 30/ have sold at 8/ to 7/. (Since this was written the rights have been selling at about 5/3.) Our London office has cabled us that the sharemarket there looks as though it has bottomed, and that some influential quarters already are contemplating the possibility of a further reduction in the bank rate to 5 per cent, before the end of this year.
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Auckland Star, Volume LX, Issue 293, 11 December 1929, Page 4
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172AUSTRALIAN SHARE MARKET. Auckland Star, Volume LX, Issue 293, 11 December 1929, Page 4
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