WAIHI SHARES.

Manawatu Standard, Volume XLI, Issue 9332, 5 October 1910, Page 8

WAIHI SHARES.

WI-IY THEY ROSE AND FELL. BRITISH NERVOUSNESS. AN INTERESTING LETTER. (Peb Pbess Association.! ; • AUCKLAND, Oct, 4. Interesting ligiTt is thrown on transac- • tions in Wailii shares as between New -Zealand and London by a letter written yesterday to the Auckland Stock Exchange by Mr Rhodes, a local director of the Waihi Company. In August the London Daily Mail stated that, "the fall' appears to have been occasioned by persistent selling 1 orders from New Zealand, and in the circumstances it is not unnatural that holders on this side have become rather nervous." It would now appear that- the Daily Mail's remark applied to the months of June and July, when New Zealand sold to London 3090 shares and 1245 shares -respectively, the prices ruling in June and July being approximately from £7 16s up to £8. 7s. According to the Daily Mail it was British nervousness caused by these New Zealand^Juno- July selling orders, that led to the fall in August, when the sharas got down to £7 10s, with upward flu j!;u- ---| ations. New Zealand investors, who had already sold to London 4335. Waihi shares !'at the higher June-July prices, were cohi tent in August with exporting- 191 • scrip. In September the tables were reversed, and New Zealand bought back from Lon don 3105 shares. In September prices fell

heavily, coming down on Friday last to the lowest level of the slump, £6 6s 6d; that 'is tosay New Zealand investors brought back fiorn- London at the low September ' prices a larger.-parcel than thoy"'«old' to' London 'at the (comparatively) -high June, quotations. , The 'margin may be'taken at 30s to 40s. Yesterday's closing salq leports, a recovery of 10s Sd a share, -jqual to a total of £260,351. •