AUSTRALIAN SHARE PRICES

Auckland Star, Volume LXXIII, Issue 256, 29 October 1942, Page 3

AUSTRALIAN SHARE PRICES

"KANGAROOS" INTRODUCED

A statement by the Sydney Stock Exchance Prices "will he J" 1 w , hich Australian shafe ii revised in future. As previously The chilf'nSinf 6^? 6 ,?, 1 revlsion will b « Permitted, ine chief point of the new arrangement is that where circumstances warrant, the Federal TreasSSEUEF PCrm .^^ 01 individual shires to be adjusted, provided that- the maximum sellinc exeeed the market price ruling 5-h. . ? tage J before Japan entered the war. k? i* te °* lhis has yet to SrpeSt Apart from the limit, shares at present priced under par may be treated as ™-n- In spite of the recent strong demand th» n liSTf on * ustr "l'aii Exchanges, prices on rh» n ° L as high as when Japan entered of 1941 are below the highest levels The Labour Government was very concerned Wad t rJt al M > thin f the exclianses,'' says the i?. , at M °nthly referring to share prices "In BSUJ eu^ r 11 frowned on bulls and bears. In their place it has bred the kangaroo This f luts1 uts / n his order to buy. and when frusnn'tnh Price ceiling, he leaves the order i° n x ° be executed immediately a new pric» is made. He and his fellows all leap together Smit Th J nd the price reaches a new high I™"' The Government blundered into all this !}?i;:® nse * S, n . 11 stopped normal trading on Change on February 19. Fears of inflation — already 20 d c since the | outbreak of war and more imminent are 1 SI, J y some to have attracted attention to equitv shares. especially in view of their deflation m comparison with last year's share quolSrtonS ajsd v anc ! pnces . of most other things. If *rare a hedge against inflation .1? lthout worrying about the immeBnt it l™, S Probably on sound ground. But it is not usual for tears of Inflation to eive Par' nf ?h^ n ■ share market acv real stamina Pari, of the increase in prices lately has been Jiff' 1 . V e « to ordina ry recovery, partly to inflationary factors and compulsory-loan fears and partly to the odd conditions created by the' Government s -plan' to stop speculation "