SHARE-HAWKING.
A GROWING PRACTICE
LEGISLATIVE. CHECK PROPOSED.
(By Telegraph.—Pai-liameutary Reporter.) WELLINGTON, Thursday.
An amendment to the Companies , Act, designed to control share-hawking was introduced into the House to-day by Mr. W. E. Barnard (Napier). Regret was expressed by the member that the proposed comprehensive legislation dealing with companies was not being introduced by the Government this session. He had, therefore, prepared a email'measure to deal with a practice which had reached large proportions, that of hawking shares from door to door. People were endeavouring to dispose of bonds and shares for flax, forestry and tobacco, although anyone who knew much about those debentures realised- that they were of a highly speculative nature. Poor people were induced to put their life's savings into these things, and the position called for legislation on the lines of the English Companies Act, which prohibited persons going from house to house to sell shares, and provided that any person offering shares for sale had to comply with certain requirements, one important provision being that the shares should be recognised by the Stock Exchange. The bill was read a first time. .. •• .
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Bibliographic details
Auckland Star, Volume LXI, Issue 210, 5 September 1930, Page 5
Word Count
185SHARE-HAWKING. Auckland Star, Volume LXI, Issue 210, 5 September 1930, Page 5
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