BANKERS’ HOLD
ON STOCK EXCHANGE PROFIT. (United Press Association—By Electric ; .Telegraph—Copyright.) LONDON, September 20. ' The London Stock' Exchar, go Committee, have rejected a proposal made by an influential group, of brokers to reduce the share of the commission payable to the banks on share deals from one-half to one-third., The “Daily 'Herald’s”-’ financial editor, referring to the rejection, says.: The Committee of the Stock Exchange have , surl‘en,deod .unconditionally,' owing to a, threat made by the “Big .-Five” banks t ; o establish a rival organisation for share transactions. The banks, with their branches throughout the country, could easily establish a clearing house for shares, . similar to their cheque clearing house, which Would probably take away half of the Stock Exchange business.
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Hokitika Guardian, 21 September 1932, Page 2
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120BANKERS’ HOLD Hokitika Guardian, 21 September 1932, Page 2
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