THRIFT IN NEW ZEALAND
Mr. G. C. Creagh, .chairman of the Auckland Stock Exchange, in his annual review, touched on thrift in New Zealand. "Many of our largest concerns are not owned by capitalists or a 'few large shareholders," he said. "The average shareholder is a man of moderate income and the average holding, taking into consideration the amount of capital, remarkably small. This fact is further borne out by a statement made some time ago by the chairman of the Electrolytic- Zinc Company of Australia, a~ ivcJJ-kiionu Australian company. He said that the company at that time had 95tiO shareholders with an average holding of 235 shares. Of these 2892 or 30 per cent, hold 50 shares or less, 519j or 54 per cent, held 100 shares or less, 6984 of 73 per cent, held 200 shares or less, while only 292 persons or 3 per cent, held over 1000 shares.
"Another proof of the thriftincss of the people of the Dominion is found in our savings banks and similar institutions. The deposits in the Post Oflice Savings Bank at the end of last year, we are told, amounted to £43,250,000. Such figured speak for themselves, and arc ample evidence of the saving habits of a people who, to quote the president of the British Board of Trade (Mr. Runeiman), are. not likely to be swept away in a wave of Bolshevism."
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Evening Post, Volume CXVI, Issue 142, 13 December 1933, Page 12
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233THRIFT IN NEW ZEALAND Evening Post, Volume CXVI, Issue 142, 13 December 1933, Page 12
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