INVESTMENT MARKET
Messrs. J. B. Weir and Sons, Melbourne, reporting on the investment market as at 17th April, wrote:—"Despite the severe fall in sharemarket values during the last three months of 1929, and the further pronounced weakness during the first couple of months this year, the sharemarket is etill settling downwards, although some critics have been suggesting that the marlet has 'touched bottom' ever since the beginning of the year. Candidly, we think that still lower prices must prevail during the next'two or three months, as there is a great shortage of money for investment. Payment of income tax and municipal rates (which will cause some selling of shares), the issue of the new Commonwealth loan which is expected shortly, and the usual winter.dullness and slackness of trade -will all tend to depress further the already weakened market, which, even without any assistance from selling, would probably continue to settle downwards under its own weight. Lower quotations for stocks and shares, together with the limited market for real property, is causing some of our banking institutions to request more cover from their customers, or, failing that, a reduction in their overdrafts, thereby causing selling of stocks and shares."
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https://paperspast.natlib.govt.nz/newspapers/EP19300501.2.171
Bibliographic details
Evening Post, Volume CIX, Issue 101, 1 May 1930, Page 16
Word Count
198INVESTMENT MARKET Evening Post, Volume CIX, Issue 101, 1 May 1930, Page 16
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