SLUMP IN SHARES
STOCK EXCHANCE SENSATION COLLAPSE OF NEW GUINEA COLD COMPANY lustralian Press Assn.—United Berrle® tAuatralian Press Association.) (Received Oct. 22, 8 p.m.) r~ ; SYDNEY, Oct. 22. The Stock Exchange to-day witnessed a sensational collapse of tftia shares of the New Guinea; Cold and Osmiridium Company, lately. aeqirtr-' cM by an English company; the New Cuinea Goldfields Exploration Limited. The shares were only paid up to half a crown, but had been rising steadily till the first call to-day wftfen 20s 6d was paid for more then on® thousand. Then a cable from'London was received, detailing the results of recent tests, and the dislocation * of the company from the exaggerated reports of the richness of the field; A rush to sell shares set In; holders lowering demands to lOs edy the best buying order was ten shillings. Many speculators stand to lose heavily.
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Bibliographic details
Gisborne Times, Volume LXVIII, Issue 10724, 23 October 1928, Page 5
Word Count
144SLUMP IN SHARES Gisborne Times, Volume LXVIII, Issue 10724, 23 October 1928, Page 5
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