TRADE IMPROVEMENT

Wanganui Chronicle, Volume 79, Issue 278, 24 November 1936, Page 8

TRADE IMPROVEMENT

REFLECTED ON STOCK EXCHANGES INTEREST IN INDUSTRIALS [ Per Frets Association. | WELLINGTON, Nov. 23. At the annual meeting of the Wellington Stock Exchange to-night, Mr. J. Milne, who presided prior to the election of the new chairman, Mr. A. Hamilton, said that the tournover in stock and shares during the year had been very satisfactory and reflected the general improvement in trade which began two years ago. Interest in industrial shares was evidence of returning confidence in trade conditions and shares in all sound New Zealand companies had a full measure of support. The outstanding feature of the year had been the extraordinary success of the chain stores and the prices for their shares in certain cases had reached speculative levels. Base metal industries also had received a very great deal of attention and as there were no such companies in New Zealand, investors had to concentrate on Australia for purchases. The greatly improved prospects for wool, meat and other primary products had had the effect of directing attention to the shares of banks, pastoral and finance companies and a general improvement in the value of these shares had taken place. There was plenty of money in New Zealand available for investment in established industries, both primary and secondary, also for new flotations with reasonable prospects of success. Taxation and other restrictions, however, might slow down progress in this direction and it was to be hoped that the Government would take this into account and modify any legislation which might have the effect or slowing down the natural progress of the country.