BANK OF N.Z
SHARE VALUES RISE
PRIME MINISTER'S DENIAL
As was apparent in "The. Post's" weekly review of the business done on New Zealand Stock Exchanges, bank shares in general appreciated in value over the-week but a sharp advance was taken in the shares of the Bank of New Zealand: The "Christchurch Press" in its comments on the bank share market, remarked that among the issues to show additional strength were the Bank, of New Zealand, which rose from £2 a fortnight ago and on Tuesday last sold at up to £2 ss, the highest price since the middle of last year. The rise is proportionately markedly larger than that in any of the other issues. . . ,'
"Some of the buying pressure;" the "Press" observed, "has undoubtedly been due to the rumour, which ' has been given wide currency, that the Government is about to take over the private shareholding in the bank. The figure of £2 10s has been mentioned.
"When the suggestion was referred to the Prime Minister (the Rt. Hon. M. J. Savage) last evening (Friday) lie denied that there was anything in it.
"The shares of-the bank have risen sharply. on the London Exchange, and recently have been quoted.as high as the equivalent of £2 8s in New Zealand currency.' .
"The Government is already a substantial shareholder in the bank."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19370301.2.140.10
Bibliographic details
Evening Post, Volume CXXIII, Issue 50, 1 March 1937, Page 12
Word Count
222BANK OF N.Z Evening Post, Volume CXXIII, Issue 50, 1 March 1937, Page 12
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