SHARES OVER-SOLD
“BEARS” IN DIFFICULT POSITION
SYDNEY, 11th March. Seldom has the investment share market been so heavily oversold as at present. ■' Demands are sow being made for delivery of scrip and the opposition threatens to become worse from the “bear” viewpoint in the course of the next few weeks. The “Sun” newspaper says that pro*vided investors keep their heads and refuse to be stampeded into selling stocks below their intrinsic value, the “bears” will be obliged to offer higher prices in order to obtain shares to meet their obligations. The chairman of the Sydney Stock Exchange received a letter from Mr G. C. Creagh, chairman of the Auckland Exchange, dated 6th March, complaining of the late delivery of scrip, adding: “There have been delays that cannot be accounted for by ordinary reasons, and difficulties . consequently have arisen. Therefore, in view of the existing conditions, and the uneasiness of the market, brokers would greatly appreciate the making of prompt deliveries.” The “Sun” adds that the foregoing letter speaks for itself. Happily there is now much less speculative short selling.
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Bibliographic details
Nelson Evening Mail, Volume LXIV, 12 March 1930, Page 5
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179SHARES OVER-SOLD Nelson Evening Mail, Volume LXIV, 12 March 1930, Page 5
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