COMMERCIAL Shouting, Shoving To Buy A.O.G. Shares
(N.Z. Press Association —Copyright/ MELBOURNE, January 3. Gesturing operators shouted and shoved to buy Australian Oil and Gas shares when they were offered at the Melbourne Stock Exchange today. The top price paid was 695. Five minutes after these “glamour shares’ were first offered, the best price was 65s 3d.
In Sydney yesterday the A.O.G. shares reached a peak of 75s and closed at 66s 3d.
A stock exchange official estimated that about 7000 A.O.G. shares were sold in the first hour today. Most oil shares in Melbourne today sold at higher prices than those ruling before the stock exchanges Christmas recess, but prices were easier than those prevailing yesterday in Sydney.
The main rises on preChristmas figures were Oil Development 2s sd, Santos 2s 3d, Associated Australian Oil Is lOd. Interstate Oil Is 3d. and Associated Continental Petroleum Is. First Post Trading
The modern ‘‘post’ trading system was introduced on the Melbourne exchange when it reopened today.
The ’‘post" system will replace the ‘’call" system which has been in use in Melbourne for more than 100 years.
The Sydney Exchange introduced "post” trading las; year.
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Bibliographic details
Press, Volume C, Issue 29712, 4 January 1962, Page 14
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193COMMERCIAL Shouting, Shoving To Buy A.O.G. Shares Press, Volume C, Issue 29712, 4 January 1962, Page 14
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