SLUMP IN SHARES
WHAT IT MEANS TO HOLDERS
LABOUR NOT THE ONLY LOSER
(Beceived 20th September, noon.)
i SYDNEY, This Day.
In an article in the '' Sydney Morning Herald," relating to investors' losses as the result of reduced or deferred dividends owing to the financial stringency, the point is emphasised that certain sections) of Labour would have the world believe that the workers alone are making undue sacrifices. The "Herald" publishes a list of 115 companies on the Stock Exchange whose dividends have either been reduced, deferred, or passed altogether. The aggregate reductions involve a I loss to the shareholders over the year of £2,304,531, which is equal to 3.78 per cent, of the paid-up capital of £60,849,----304 represented by the share issues.
The recent downward tendency of shares on the Stock Exchange has been accentuated in consequence of the announcement of extra taxation contemplated by the Federal authorities. Many stocks touched new low levels.
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Bibliographic details
Evening Post, Volume CX, Issue 71, 20 September 1930, Page 9
Word Count
155SLUMP IN SHARES Evening Post, Volume CX, Issue 71, 20 September 1930, Page 9
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