Gold Shares.

Thames Star, Volume LXVI, Issue 19623, 3 February 1936, Page 2

Gold Shares.

SPECULATIVE TYPE

PUBLIC INTEREST DECLINING. The notable decline in public interest in the more speculative type of gold mining shares was mention ed by Mr. 11. Kitson, chairman of the Christchurch Stock Exchange, in hit address at the annual meeting. "The figures for the year of the number of sales on 'change and reported disclosed a decline of approximately 1,000,000 shares," said Mr. Kitson. "Practically the whole of the drop is accounted for by the gradual dying of wild speculation in gold mining shares. I am sure members will not regret the fact. Theie are still quite a few gold mining companies whose shareholders can only look forward to liquidation as a means of recovering any part of (heir capital. Sales in gold mining shares for the first quarter were 313,815, second 234,610, third .'25,000 and fourth 114,173—a total >f 887,028, against 1,900,000 in the previous 12 months. "Some gold mining companies are standing up to the test of time and are, and probably will be for some years, paying dividends to theii shareholders. The price of gold has fluctuated from time to time within narrow margins. So far no commodity has been found to take the place of gold as a measure of value, and it is not all improbable that wc shall see, before very long the various countries of the world once more on the gold standard. It does not appear to-day that prices will rise and maintain their rise at such a level as to bring down the price of gold to the old stability minimum. "Many hold the view that before stabilisation can be effected a new lixed price of gold must be determined. If this does occur the value fixed must be very close to £7 an ounce sterling."