AUSTRALIA’S NEW TAXATION.
Stock Exchange Reaction. SECURITIES DROP IN VALUE. (United Pres* Association — By Electric M'eiegrapn—C/onyrlght.) SYDNEY. August 27. There was a sharp reaction on the Stock Exchange yesterday to the tax proposals. Recording the consensus of financial opinion, the market promptly dropped the value of the eight securities affected by the tax proposals by £319,037. Picture shares suffered most, whilst breweries and tobacco company shares also fell.
“PASSING IT ON.” SLUMP IN SHARES SHORT-LIVED. (Un)teo hrea. Association—By Elootti. Telegraph—Copyright.) (Received August 27, 11.30 p.m.) SYDNEY, August 27. The pronounced slump in movie and brewery shares on the Exchange was short-lived. There was a sharp recovery this afternoon on all picture concerns, when it was announced that the increased taxation would be passed on to the public. Brewery shares made marked recovery.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18355, 28 August 1929, Page 9
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132AUSTRALIA’S NEW TAXATION. Timaru Herald, Volume CXXV, Issue 18355, 28 August 1929, Page 9
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