MARKET OVER-SOLD

Sun (Auckland), Volume III, Issue 919, 12 March 1930, Page 10

MARKET OVER-SOLD

DELAYS WITH SCRIP SHARES COMPLAINT TO SYDNEY SYDNEY. Tuesday. Seldom has the investment share market in Sydney been so heavily over-sold as at present. Demands are now being made for delivery of scrip, and the position threatens to become worse from the “bears’ ” point of view in the course of the next few weeks, says the “Sun.” Provided that the investors keep their heads and refuse to be stampeded into selling stocks below their intrinsic value the “bears” will be obliged to offer higher prices in order to obtain shares to meet their obligations. The paper says the chairman of the Sydney Stock Exchange received a letter from Mr. G. C. Creagh, chairman of the Auckland Exchange, dated March 6, complaining of the late delivery of scrip and adding: “There have been delays that cannot be accounted for by ordinary reasons. Difficulties consequently have arisen. Therefore, in view of the existing conditions and the uneasiness of the market, brokers would greatly appreciate the making of prompt deliveries.” The foregoing letter speaks for itself, says the “Sun.” Happily there is now much less speculative short selling. COMPANY REGISTRATIONS Recent company registrations at Auckland include the following; PUBLIC Majestic Buildings, Whangarei, Ltd. Objects: To erect the Majestic Theatre. Capital, £25,000 in £1 shares. Subscribers: R. G. ILosking. of Whangarei, 5.000 shares; Henry John Hayward, of Auckland, 3,000 shares; Hugh Wentworth Crawford. Wreford Upton Timewell and Edward Snell Tremaine, all of Whangarei, 500 shares each: Hancock and Co., Ltd., and John Schischka, both of Auckland, 250 shares each. PRIVATE Doolan’s Economic Footwear Stores, Ltd., boot and shoe dealers. Capital, £ 2,000 in 500 preference shares and 1,500 ordinary shares of £l. each. Subscribers: Leo Arthur Doolan and Mary Sankey Doolan, 750 ordinary shares each; Ann Elizabeth Helen Thompson and Mary Elizabeth Finn, 250 preference shares each. Gifford, Limited, tailors and drapers. Capital, £1,500 in £3. shares. Subscribers: John Laurence. Conlan’ 1,499 shares; Alfred Ernest Gifford, 1 share. General Builders, Ltd., builders and contractors. Capital, £SO in £1 shares. Subscribers: James Gray, 30 shares: William George White, 20 shares.