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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Aug 13, 1966
Page
6
On Friday mining issues weakened on the Melbourne Stock Exchange contrasting with an earlier buoyant wave. Declines followed a brief rally as traders reassessed ore outlooks and demand.
Western Mining Corp falls to 46 after a steady nickel optimism report. Mt Isa shares dip to 490, Mount Morgan to 2-58, Mt Lyell to 148, while Broken Hill South climbs 2 to 208. Broad trading remains listless with small gains and losses across Amalgamated Chemicals, BHP, Swan Brewery, and several regional stocks. Melbourne Co-Op and other major names show modest moves in a cautious session.
A readout of Adelaide price data shows stocks across Adelaide Investments and Base Metals. Entries for mining firms, brokers, and commodity prices include Corwell $87 Farakding 72 Gen Ind 129 Norse ran 98 Pioneer 4, United Lean Wood 32, and long lists of suppliers and indices.
London reports a high level fleet switch moving the Oriana from flagship status to exchange with the Canberra as the fleet’s lead. Commodore Clive Weekley and Commodore James Dunkley are named in the reshuffle, with extensive leave and countdowns described for upcoming assignments aboard the MH and related vessels.
Melbourne presented gains as finance shares rose led by major banks. Brisbane and Adelaide markets showed mixed activity with investors weighing earnings reports and sector outlooks.
The bank critiques last year’s Commonwealth budget relying on higher government expenditure and increased taxes, noting mixed results. Real consumption fell as retail sales slowed, motor vehicle sales declined, and per head goods bought at retail dropped over 12 months amid rising prices. Hesitancy and tighter credit reduced purchases, with farm incomes and drought outlook uncertain and recovery expected slowly.
Fuji confirms receipt of formal reply as to joint development terms with Australia and the United States. The consortium rejects altered price proposals and delays, seeking to supply iron ore and pellets from Mount Newman mine over a 22 year period.
Pye, the British telecommunication firm, demonstrated a pocket radio-telephone in Canberra this week as a rival to American and Japanese units. The base station operated from the Mie building with continuous contact to police and commercial groups, and the set, priced around 5000 dollars, promises reduced interference with ultra high frequency technology.
The general manager for Hatish Phosphate Cun Mr Armstrong said the omissioners Mr James Hi veils had a range of about sell, well retire today He piles inside buildings. jamed the service mm New ind 08 ommles an open Fealars in 1924 and has onlyten been genet manager for They were ideal forhe past 12 years.
Eastern Nitrogen Ltd announced in Melbourne that the Walsh Island and Newcastle Harbour fertiliser plant will begin production toward the end of 1968. The facility, among the world’s most modern, is planned to supply chemical fertiliser for export and all of Australia’s needs. A spokesman confirmed the target date.
Kellogg’s will raise wholesale prices by $4 a dozen packets and retail by 2d a packet from September 1, signaling the first Queensland impact from the recent $2 federal wage rise. The move follows most processed foods in the state being sourced from southern States where federal awards apply.
A scrambled OCR snippet lists numerous companies, locations, and figures such as Allied Mills, Macquarie, Amalg Chem Con, Woolworths, Auto USA, East Coast, United Uranium, and various stock numbers or page markers, interspersed with months and codes. It resembles a garbled securities or industry listing from a historical newspaper page with scattered company names and figures but lacks coherent narrative.
Fragmentary OCR text mentions names and numbers with unclear context. Readers gain no coherent event, dates, or entities to confirm a full news item or outcome. The readable fragments suggest a local note or vulnerability in transcription rather than a complete report.
Copper prices sag on the Sydney Stock Exchange after a London Metals Exchange drop. Mount Morgan, Western Mining, Associated Minerals lead mining stocks lower while Rivenshoe shows minor gains. overall turnover weakens with several majors slipping and a few exceptions like Burns Philp and Rothmans easing.
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