OVERSEAS SECURITIES

Evening Star, Issue 23564, 1 May 1940, Page 8

OVERSEAS SECURITIES

CONCESSIONS TO STOCK EXCHANGES [Per United Press Association.] WELLINGTON, May 1. “ It will bo a great relief to New Zealand shareholders in many of the popular and good class of overseas companies whose shares have been regularly dealt in • for many years on the. Dominion markets to know that the Government has granted exemptions under the recent Financial Emergency Regulations, which will enable a return to normal trading,” said Mr Andrew Hamilton, president of the Stock Exchange Association of New Zealand. “ It will be realised that the regulations were brought down by the Government in order to close the door to ‘ black Exchange ’ operations, but xetpresentations were made by the Associated Stock Exchanges to the Governor of the Reserve Bank as deputy for the Minister of Finance, pointing out that the condition created went much further and so stopped business, and that many holders of overseas securities were seriously embarrassed in making the necessary realisations on their shares. “ The undertaking entered into some months ago by Stock Exchange members not to operate in the ‘ black market ’ had been strictly adhered to. but other channels were still open. These representations were duly considered and amended conditions which are very fair resulted. “ The Exchanges are again quoting leading Australian shares, hut it may lie a few days before prices adjust themselves. These will now he unaffec,ted by any ‘ black market ’ influence and the law of supply and demand will be free to operate.”