MINING PROPOSITIONS
SAFEGUARDING THE PUBLIC STOCK EXCHANGES URGED TO PROTECT CLIENTS [Per United Press Association.] AUCKLAND, August 30. The president of the New Zealand and Auckland Stock Exchanges, Mr G. C. Creagh, to-day addressed members on the necessity for safeguarding the public in regard to the flotation of mining companies. He said it was improper and contrary to exchange rules for a member to act as secretary of a mining company. Another matter requiring attention was the practice of making reservations of shares in mining companies that were being pro* moted. He referred to one case, re* marking that evidently the promoters wanted to be certain of getting soma gold from the public, whatever might come out of the mine.
“ If I am not much mistaken,” _ha added, “ wo will see history repeating itself, and while many genuine mining propositions may be put before the public and much gold won during tha next few years, in the long run there will be a sadly-disillusioned public, and a large section of it will rue the day when it was induced to put its money into gold mining company shares.” He strongly _ urged stock exchanges to make it their business in every way possible to protect their .clients*
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19330830.2.55
Bibliographic details
Evening Star, Issue 21503, 30 August 1933, Page 6
Word Count
206MINING PROPOSITIONS Evening Star, Issue 21503, 30 August 1933, Page 6
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in