COMPANIES’ SHARES

Manawatu Standard, Volume XLIX, Issue 251, 21 September 1929, Page 9

COMPANIES’ SHARES

DEALING SUSPENDED. STOCK EXCHANGE SENSATION. BUSINESS INTERRUPTED. (United Press Association.—By Electric Telegraph.—Copyright.) (Australian Press Association.—United Service.) Received September 20, 10.10 a.m. LONDON, Sept. 19.. The Marquis of Winchester, chairman of a number of companies constituting the Hatry group, has issued this statement:— * “On the instructions of various banks and others interested, Sir Gilbert Garnsey, of the Price, Waterhouse Company, is investigating the affairs of the group.” FIRST TIME SINCE WAR. ’ EAGER DISCUSSIONS. COAIAIITTEE’S ACTION APPROVED. (Australian Press Association.) Received September 21, 10.30 a.m. LONDON, Sopt. 20. The Stock Exchange Committee has suspended permission to deal in the five Hatry companies’ shares and certain connected securities. The action of the committee caused a sensation on the Stock Exchange as it is the first time such a step has been taken since the emergency regulations at the outbreak of the war. Business in many sections of the Exchange has practically ceased and groups are eagerly discussing the position. It is estimated that the total market value of the five Hatry companies has dropped £8,000,000 compared with the highest prices this year. The committee’s action is generally approved, as it will prevent shareholders selling at prices which may prove unjustifiably low after a full investigation is made. The newspapers describe che suspension as one of the greatest financial sensations of recent years. It is reported that, in an endeavour to prevent a slump, a number interested in the companies concerned endeavoured to obtain the support of large financial groups. They also approached financiers in America, Germany and France.