BREWERY SHARES

Hokitika Guardian, 10 December 1928, Page 7

BREWERY SHARES

STOCK EXCHANGE OPERATOINS. DUNEDIN, December 5. A remarkable feature of Stock Exchange operations during the past few months lias been, first, the steady rise in brewery share quotations, and then the decline in juices since Prohibition was overwhelmingly defeated. Some moil tbs ago, when the shares were quoted at 41s, speculation commenced. On September 18th sellers were quoting 58s and buyers ols. From then onwards juices rose at an average of Cd per day on both sides till on Flection Day buyers were offering 58s8d, lint sellers would not part with their stock under 60s. Since the election however, quotations have been on the downward grade, and yesterday buyers were offering 545, as against sellers 56s A hardening tendency following the pronounced verdict of the country against Prohibition would have <>ppoared to be the natural result. In previous years prices of brewery shares have slunijied prior to the licensing poll. Tills year the speculative investor accurately guagetl the feeling of the jioople, and milch stock changed hands, some of the holders having a belief that the security was not sufficient. to warrant their retaining the shares. The intention of the speculators was to hold the shares till after Continuance had been carried, and on the rising market which they expected they intended to clear. Investors however, have apparently decided that the prices ruling are too high, and the decline in quotations by sellers is said to lie due to the desire of the sjioculaLors to clear their stocks.