HEAVY LOSSES
ON GOLDMINE SHARES
' Referring to remarks made by Sir Colin Fraser at the annual meeting of the Mines and" Metals Association regarding the loss of Australian capital on gold-mining projects which had never- had a chance of success, the chairman of the Melbourne Stock Exchange; (Mr; W. Forster Woods) said that ths position was not easy to remedy.
. "The credulity and cupidity of a section of the public, the greed of the promoter, and the gaps in the company laws and regulations governing prospectuses and share dealings were in the main to blame," he added.
"For a considerable time the committee of the Stock Exchange of Melbourne has ' been considering what additional rules could be introduced to protect the public by discouraging the flotation of mining companies apparently designed to assist only promoters and venders. The matter, however, has been held in abeyance because we consider uniformity of practice .by the Stock Exchanges most desirable, and the subject • has been nlaced oh the agenda for full consideration at-a conference of the Stock Exchanges of Australia and New, Zealand, to commerce in Melbourne on March 16." ■ ■ .
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Bibliographic details
Evening Post, Issue 60, 11 March 1936, Page 14
Word Count
187HEAVY LOSSES Evening Post, Issue 60, 11 March 1936, Page 14
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