BOOM IN SHARES

Evening Star, Issue 19799, 24 February 1928, Page 4

BOOM IN SHARES

ARTIFICIAL SILK COMPANY BIG PROFIT FOR YEAR. (British Official News.) PreM Association-By Wireless—Copyright. RUGBY, February 22. There was animated dealing on the Stock Exchange this morning following the announcement that Conrtauld’s artificial silk company is paying a. dividend of 25 per cent, free of tax for the year and 100 per cent, share bonds on its £12,000,000 capital. A profit of £4,566,000 was made in 1027, against £3,840,000 the previous year. At the official close of the market yesterday the shares were £7 11s 3d, tho business being done, at opening day at £9 and over before they reached £8 12s 6d. EXCITEMENT SPREADS. OTHER SHARES FLUCTUATE. LONDON, February 23. Wild excitement prevailed on the Stock Exchange after the announcement that Courtauld’s, Ltd., artificial silk manufacturers, were paying a. share bonus of 100 per cent-, in addition to u dividend of 25 per cent. Last night the official closing price was £7 13s 9d. Long before the Ex-

change opened to-day scores of brokers started dealing, and rapidly rushed the price to £9, which means that the market value of ordinary shares appreciated over £15,000,000 in ten minutes. When the Exchange opened the price relapsed on profit taking, and closed at about £8 3s 9d.

The excitement spread to all artificial silk shares, which Huctuated rapidly.