SHARP RECOVERY
Rec. 0.30 a.m. SYDNEY, Aug. 20. Following the Federal Government* decision to buy any bank scares offered at last Friday's prices, the chairman of the Sydney Stock Exchange, Mr F. E. Tilley, has been appointed sole buying broker for the Government on the Sydney Stock Exchange. Announcing his appointment to-dav, Mr Tilley advised Stock Exchange members to exercise caution and await establishment of a market before selling. The upshot was a sharp recovery in quotations from yesterday's depressed levels, but very few shares were offered. On the morning call the Government bought 34 Bank of New South Wales at Friday’s price of £36 15s. 350 National (20s paid) at 31s 6d and 80 National (12s 6d) at 20s. These levels were maintained in other sales late this afternoon. The general share market was firmer, though the volume of business was low.
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Bibliographic details
Otago Daily Times, Issue 26545, 21 August 1947, Page 7
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143SHARP RECOVERY Otago Daily Times, Issue 26545, 21 August 1947, Page 7
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