STOCK EXCHANGE

Waikato Times, Volume 122, Issue 20465, 4 April 1938, Page 7

STOCK EXCHANGE

MORE CHEERFUL NOTE ALLEGED EVASION OF SURTAX BIGGER YIELD FROM INCOME TAX United Pres* Asm.—Elec. Tel. Copyrlgt: (Received April 4. 11.40 a.m.) LONDON, April 3 Though the markets finished the week on a more cheerful note, there have been times when, In the words of a witty broker. It has been “difficult to sell a guinea for 215.” Fortunately, there are now signs that the public is beginning to realise that good securities are going cheap, but a sustained recovery* is still problematical. The American situation continues to be the cause of increased anxiety. The revenue figures pleased the city. Their healthy appearance is largely due to the excellent yield from the income tax, contrasting to the decrease in the surtax, which supports the stories of large-scale evasion. The entire press, under the leadership of the Times, is ing a campaign against this evasion, and there Is no doubt that the Chancellor will tfghten up loopholes drastically. The Economist estimate* the expenditure for 1937-3* at £92 i. 176.000. The natural increase in the revenue may be Cio.ooo.orto. Thu* the Chancellor will have to find at least a further £12.900.000, either by increased taxation or by various forms of financial sleight of hand, at which the Treasury is a master. SALES AT AUCKLAND <By Telegraph.—Press Association) AUCKLAND. Monday The following sales were recorded on the Stock Exchange to-da. Bank of New Zealand. 43s 3d. South British Insurance. 45s 3d. Taupo Totara Timber. 5s 7d. Colonial Sugar. £4 7 2s 6d. Farmers' Trading. 20s fid. Wnolworth* New Zealand . 21s 4d.yiydney. 2is id The Noon Call Bank of New Zealand. 43s fid. South Br.iish Insurance. 45s fid. Mt. Lyeil Mine. 295. Martha Mine, 14s 6d.