STOCKS AND SHARES

Hokitika Guardian, 30 November 1928, Page 3

STOCKS AND SHARES

APPRU(MATIQX IN A'A’LUH.

‘ WKiTjNGTON. November 28. T-liii-siiViiud.l nice ting of. the Wellington. Stock Exchange was held' to-day. ’when all the retiring officers'Avon* reclecteo. Air K. AVynn Kirkby, who succeeded the late Air A. I. Bate, as chairman, has held Unit position foi several years. While many of the best shares on the list return only about 6 per cent, <n less on the purchase price there was the fact, said the chairman, that the best souitcl shares such as hanks, insurance, etc., were practically gilt-edged investments and were certain in the long run to increase in value, in id thus ■ultimately produce a better return than mortgage debentures or. fixed deposits. As compared with a'year Li Jo bank shares showed an average increase m vafoe of 7:| per cent., the financial companies JF- per cent., gas companies (>;! .per cent., insurance companies 104 per cent, and meat companies 14* per cent. AVitli respect to meat companies the increase was due largely to the fact that a year ago these concerns were suffering '.from trade depressed., and their shares were abnormally low. With respect to the immediate 'future as the principal export products were selling well these would bring in a substantial .monetary return to the Dominion, which would stimulate trade and ncuvitv all round. This would mean that more money would be available lor investment and brokers should have a good year in front of them.