SATISFACTORY YEAR
Investment Market By Telegraph—Press Association. * Auckland, December 8. In his annual address to the Auckland Stock Exchange, the chairman, Mr. John Frater, said that the year had been satisfactory despite the problem of the international situation and the change of Government in New Zealand. He referred to a “dangerous trend of legislation.” and regretted that the Government had increased taxation while those of other countries were reducing it. He commended the Industrial Efficiency Act provided it did not unduly interfere with existing sound industries.
Referring to tlie mining industry, Mr. Frater said that it had had little encouragement from past Governments and apparently it was getting no better treatment from the present one. Business in this section had been very small, and it was regrettable that the iniquitous gold tax was still in operation. Dealing with the trend of investments in the past year, he said there had been less dealings in Government stocks, due to the fact that with improved conditions more money was being invested in industrial enterprises.
Mr. Frater appealed for fair treatment of the present Government, giving them credit for their fairness to investors regarding the purchase of the Reserve Bank shares.
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Bibliographic details
Dominion, Volume 30, Issue 64, 9 December 1936, Page 5
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198SATISFACTORY YEAR Dominion, Volume 30, Issue 64, 9 December 1936, Page 5
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