LETTERS TO THE EDITOR

New Zealand Herald, Volume XLIV, Issue 13626, 20 December 1907, Page 3

LETTERS TO THE EDITOR

-AUCKLAND STOCK- EXCHANGE. \ Sir, —Referring to the letter of'' Investor," 1 commenting ; ott'-the?iwfl>oc(a;Hof the Stock J Exchange,' L' may -say «#)}psr the" question, of I only quoting sates, made- during a "cafl" has nojt only Jaeeh, cbiieiaered by ,the«mem-iI • bersi,,but.-was M ■■; ioti gome months, iuitlj found to h<p; unsatisfactory to the majority] of investors. ;). I do not thinki, "Investor j need fear the public will be misled under the present"' mode of quoting. Sales made* between the hours after closing the 3.15 p.m.! " call " and opening at 10 o'clock the follow-. ing morning are not allowed to be quoted. It follows, then, that only sales made between, say, 10.30 a,m. and 12.15 p.mi, andij 12.45 p.m. and, 3.15 p.m. ,are» so quoted. Then, again',' any ' quotation is' open to be ; challenged by any member, and tho chairman "always has the power to refuse a quotation. T<> insert the number of shares which change hands during a " call " on the official list would be an impossibility, and in some stocky would load the'sheet with* a mass of figures which, could not bo road. It may riot be 'generally known that representative? of tho pros* have the ' privilege Of' attending the ''calls," and, as a rule, they exercise theirprivileges. Personally, I have no objection to critioism, and the Exohange being a" semipublio body, its actions arc open -to be criticised. . I am, however, too busy a man to undertake to reply to every correspondent, but will be pleased at any time to give what information I can as to the methods of the Exchange. (». A. Buttle, Chairman Auckland Stock Exchange. '