THE FINANCIAL OUTLOOK.

Otago Witness, Issue 3803, 1 February 1927, Page 23

THE FINANCIAL OUTLOOK.

STOCK EXCHANGE BUSINESS. i CHRISTCHURCH, January 28. At the annual meeting of the Christchurch Stock Exchange (Ltd.) to-day, Mr F. E. Graham was re-elected chairman for the seventeenth time. Mr A. F. Scott was re-elected vice-chairman, and Messrs G. G. Aitken, O. W. B. Anderson, and War-' ren Fisher were elected to the committee. In the course of his remarks the chairman said that everything pointed to a good season for the primary producer. The prices for sheep and wool -were improving, and the harvest looked like being particularly good if the weather held for the next few weeks, and, as the towns were to a very great extent dependent on the country, it would augur that business generally would be better this year. He also referred to the burden of heavy interest charges borne by many farmers on land bought at much too high prices, and was not too sanguine of a sound financial position until land prices had been stabilised. Speaking of the investing public, the chairman remarked that it was evident that they were turning towards the Stock Exchanges more and more each year. Mr Graham referred to the necessity for protecting the public as far as possible from the traveling salesman in shares, and issued a warning to the public not to invest without asking the advice of a Stock Exchange member. Such advice the public could always command from the brokers free of charge. A list of members was advertised regularly in the local papers. In conclusion, the chairman spoke of the care taken by the Stock Exchanges before approving new prospectuses and listing companies..