AMERICAN STOCKS
AUSTRALIAN MOBILISATION
The action taken by the Commonwealth Government to mobilise foreign exchange by decreeing that Australian owners of U.S.A. stocks must sell them is not expected to have any marked adverse repercussions upon holding investment companies in Australia, remarks the "Age." It is believed individual investors will be the main losers.
It is pointed out in financial circles that most investment companies (formerly known as investment trusts) have considerably reduced their holdings of U.S.A. common shares in recent times because of the trend of the investment market in United States and Australia, and because a considerable body of public sentiment in Australia was against investment in America while better investment opportunities were available in Australia.
The expansion of secondary industries and the trend towards self-suffi-ciency in Australia since the outbreak of war had both helped to brighten the outlook for the investment market in Australia. Funds had therefore been diverted from the U.S.A. market to the Australian, and the total amount of common stock investment in U.S.A. is today not nearly as large as it has been.
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Bibliographic details
Evening Post, Volume CXXIX, Issue 112, 13 May 1940, Page 12
Word Count
180AMERICAN STOCKS Evening Post, Volume CXXIX, Issue 112, 13 May 1940, Page 12
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