FINANCIAL MUDDLE
A POSSIBLE SCANDAL. (United Press Association —By ElectricTelegraph.—Copyright.) LONDON, March 13. The cables and wireless position promises to develop into a city scandal, according to one commentator. Reference stock lias fallen to forty-five, compared with last year’s high level of seventy-eight. The market value of the company securities declined from par value, fifty-two millions sterfing, to fourteen millions. The “Economist” declares ti at stock holders ought to he immediately told the true position. Capitalisation was based on prices to which the constituent companies soared in 1920. This fantastic capitalisation should be immediately reviewed.
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Hokitika Guardian, 14 March 1932, Page 6
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95FINANCIAL MUDDLE Hokitika Guardian, 14 March 1932, Page 6
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