STOCK EXCHANGE

Wairarapa Times-Age, 15 December 1943, Page 6

STOCK EXCHANGE

MARKET PRICES DURING YEAR FREE FROM MATERIAL FLUCTUATIONS (Bv Telegraph—Press Association.) AUCKLAND, December 14. “For the first time since the war broke out we can look back on a j eai free from material fluctuations in market prices,” said Mr J. W. Fratcr, chairman, of the Auckland Stock Exchange, at the annual meeting today. Stock Exchange securities had shown a general appreciation over the year. I he outstanding success of the year was the Third Liberty Loan of £35,000.000. A large percentage of the population was now holding Government securities and this was reflected in a, steady increase in Stock Exchange business. Interest rates on Government securities had been at low levels for two years but only in the past year had share values appreciated proportionately. Commenting on taxation, Mr Frater said that while the present scale was doubtless necessary to finance the war there could be no question that the charge which had absorbed the major proportion of company profits must bo drastically reduced if an undesirable rise in interest rates, which were entirely out of line with all other char- ! ges, was to be avoided.