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Saturday, January 13, 1973
EXCHANGES TO CLOSE FOR TWO AFTERNOONS NEXT WEEK
Financial Secretary Says Move Is Sensible
Commenting on the statement by the Chairman of the four stock
exchanges today that "further to our announcement dated 11th January that
trading will cease on Wednesday afternoons until further notice, we have now
decided that due to the inability of stock-brokers to clear their accumulated
back-log, the stock exchanges will also close for trading on Monday and Friday
afternoons next week only, in order to clear this accumulation of paper-work,"
the Financial Secretary said:
"I think this is a very sensible move because the volume of turnover
recently has made it extremely difficult for stock-brokers to observe the
delivery arrangements stipulated by the stock exchanges' own rules. These
two extra half day holidays should enable stock-brokers to catch up.
Release Time: 2.30 p.m.
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