BAWRA’S PROPOSED GIFT OF £500,000 AROUSES OBJECTIONS.
MELBOURNE STOCK EXCHANGE MEN WAG WARNING FINGER. By Telegraph. —Press Assn.— Copyright. Aus. and. N.Z. Cable Association. (Received April 28, 10.30 a.m.) MELBOURNE. April 28. Objection has been taken by members of the Melbourne Stock Exchange to a statement in the annual report of the B.A.W.R.A. that shareholders should consider the suggestion to vote £500,000 for settlement and research purposes. The committee of the Exchange has instructed the chairman to state that when members have been asked for advice by their clients they have been careful to warn them that the distributable funds might be reduced in the event of an adverse judgment in impending litigation. Delay in the distribution of the funds and other contingencies, which were reasonably possible for vendor and investor to foresee, were considered, but they could not possibly have foreseen the course of action which would in many instances eliminate a large portion of the margin of the profit on the possibility of which shares were bought in good faith by their clients.
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Bibliographic details
Star (Christchurch), Issue 17832, 28 April 1926, Page 1
Word Count
175BAWRA’S PROPOSED GIFT OF £500,000 AROUSES OBJECTIONS. Star (Christchurch), Issue 17832, 28 April 1926, Page 1
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