THE SHARE MARKET

Evening Post, Volume CIX, Issue 26, 31 January 1930, Page 12

THE SHARE MARKET

A DUNEDIN OPINION

(By Telegraph.)

(Spsclal to -'The Evening Post.")

DUNEDIN, This Day

Investors in companies whoso shares are on the market "are naturally regretting that quotations have weakened, even; for most solid lines, but in Dunedin at any rate there is no indication of desire to sell at'a sacrifieefiivThat statement is-madeon the authority of a man who is iv a position to know?'" He puts it this way:—

"Our people are not wanting to get out of good stocks that they bought to hold. They realise that some of these shares have '•been at too* liigh "a-figure, that there are surface reasons for the decline,, such as the tightnuo.i of.money in Australia, consequent on the. big. interest bill on borrowing, excess of imports over exports, and now Labour troubles, and in New Zealand the. drop in/wool, plus unemployment. They, also seem to think that probably it is-better to hang on.to their New Zealand securities than to put their money, elsewhere.- The position,- therefore, is uot alarming. ' .. "In the meantime our investors have preference for such offerings as Government debentures at 5%: per cent. They know that the decline must be arrested at some point or other. Already there is a hopeful indication in the cable from Australia that the price of one leading company's shares rose one shilling yesterday."