COLLAPSE OF SHARES
STOCK EXCHANGE SENSATION.
(Australian Press Association).
(Received this day at 9.25. a.m.) SYDNEY, Oct. 23.
Sydney Stock Exchange to-day witnessed a sensational collapse of shares in New Guinea Gold and Osmiridium Company, lately acquired by an English Company, New Guinea Goldfields’ Exploration Limited. The shares, only paid up to half a crown, had been rising steadily till the first call to-day when 20s 6d was pa»for more than a thousand. Then a cable from London was received detailing the results of the recent tests a.nd dissociating the Company from exaggerated reports of the richness of the field. A rush to sell shares set in, holders lowering demands to 19s 6d, while the best buying order was 10s. Many speculators stand to lose heavily.
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Hokitika Guardian, 23 October 1928, Page 5
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126COLLAPSE OF SHARES Hokitika Guardian, 23 October 1928, Page 5
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