WORST SINCE 1931
DAY ON EXCHANGE
LONDON SHARES FALL
SOME NASTY SHOCKS
PROFITS TAX UNCERTAINTY
United Press Association— By Flectrlc Teleuranh—Copyright. LONDON, April 27. Share prices are crumbling badly on the markets, which experienced the worst day since the autumn of 1931.
The "Financial News" industrial share index is the lowest since July, 1936. Shells have fallen 14 per cent, since March 1, equivalent to £56,000,000. Even the extra -§d a gallon just imposed on petrol has not lifted them. West Witwatersrands dropped £13,000,000 and John Browns £2,000,000 in the same period. Bargain-hunters, -who normally cushion the markets, are holding off, as, owing to the profits tax uncertainty, no one knows what prices are reasonable, though it is generally considered that the liquidation cannot go on indefinitely. / : ':
The markets have received a succession of nasty shocks'from: which they will take time to recover. Many who were forced to sell have.taken severe losses. ■" ■:■'•:. .-.- ' .;■■■
. The Paris Bourse also is experiencing hard times. , Yesterday was described as "Black Monday." : It . saw all' classes of securities marked down owing to the growing extremist-pres-sure on M. Blum. ' ■".-.., , ; ■
The nervousness' on Wall Street it also a depressing factor.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19370428.2.96
Bibliographic details
Evening Post, Volume CXXIII, Issue 99, 28 April 1937, Page 11
Word Count
192WORST SINCE 1931 Evening Post, Volume CXXIII, Issue 99, 28 April 1937, Page 11
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