A SHARP FALL.

Grey River Argus, 6 November 1928, Page 5

A SHARP FALL.

SPECULATIVE SHARES IN LONDON. LONDON, November 4. A change came over the Stock Exchange during th” last week,, the plethora of new issues having proved more than speculators could digest. A reaction in these speculative industrials was inevitable af'er such a prolonged upward movement, and it is consequently not surprising that there has been considerable liquidation, notably of .shilling shares. There has been nothing like a panic, but many of these new shares have fallen sharply, and numerous speculators who thought they were making easy money by buying them nave had a salutary lesson. Bui while speculative stocks have been having a bad time, gil'-edges have been holding their own fairly well, and though business in them has been small, quotations have moved within narrow limits, and war loans closed stroiig. Colonials have generally been quietly steady, and though the City of Sydney loan met with such poor support, and dealings in it opened at seven-eighths discount, underwriters ar c » not perturbed, for. as one financial newspaper points out, the tock is likely to be readily absorbed, as the gilt-edged. market is short qf s'oek ac attractive buying prices.