THE SYDNEY "BEARS"

Daily Telegraph (Napier), Volume 59, Issue 34, 12 March 1930, Page 7

THE SYDNEY "BEARS"

United Press Assn

QVER=SELLING OF SHARES., Curt Auckland Note.

■ Electric Cable Oopyrigtts

SYDNEYV March II. Seldom has the investment sharemarket been so heavily- over sold as at present. Demands are now being made for the delivery of scrip and the position threatens to become worse from the "hears4- " viewpoint in tbe course of the next few weeks. The Sun newspaper says ihat provided that investors keep their heads and refuse to be stamp'eded into selling stocks below their intfinsic value, the bears will be obliged to offer higher prices in order to obtain shnres to meet •

th^ir obligations. Tbe chairman oi) the Sydney Stock Exchange has received a letter from Mr G, C', Creagh,. chairman of the Auckland Exchange, dated March 6, complaining of the late- deliveiy or scrip, and adding, "There have been' delays that cannot be accounted; for hy ordinarv reasotts and diffioulties consequently have arisen. Therefore, in view of ihe existing eonditions and the uneasiness of the market, hrokers would greatly apnreciate the making of irempt ddiveries." The Sun adds, "The for^going Vtter speaks for itself. Ha ppily there is now much '~ss spomlnf ivp sbort selling."