Wall Street Jitters
Sir, —There is no doubt that New Zealand’s economy is fundamentally sound. Even the effect of the Wall street crisis was hardly felt. From a rough check on Wall street I find that yields on some securities regularly ranged from nothing to 1 or 2 per cent. Interest on the loans that carried them was often 7or more per cent. Many American investors were willing to divest themselves of all usufructs of security ownership except the chance for capital gain. The Prime Minister, Mr Holyoake, is to be congratulated that his “steady does it” policy was based on sound confidence. He could now say; “Steady has done it.”—Yours, etc., RALPH S. WHEELER. Timaru. June 4, 1962.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19620606.2.47.3
Bibliographic details
Press, Volume CI, Issue 29841, 6 June 1962, Page 7
Word Count
119Wall Street Jitters Press, Volume CI, Issue 29841, 6 June 1962, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.