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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Dec 05, 1969
Page
13
The company expects a profit topping 10 million dollars this financial year the first time. The interim report shows consolidated end profits for the period ending December 31 higher than a year earlier after adjustments for shares in partly owned subsidiaries. Books close January 2 to determine interim dividend entitlements with payment due February 28.
Utah Development Company spokesmen said a decision on a large central Queensland coal project exporting 350 million tons to Japan over 11 years would be made early. The merger with Alex Harvey and Sons boosted profits and deposits. Directors noted interim dividends, profits around 4 per cent on ordinary shares, and a 1969 70 proft year with plans to deliver coal to Japan over the next 12 to 24 years, depending on economics and Easter timing.
Experts in Geneva forecast global trade rising at least 10 percent this year after an 11 percent rise last year to 238 billion dollars. In Sydney, commentary linked low wool prices and the wage increase decided by the Commonwealth Arbitration Commission to the erosion of handouts to farmers.
Prices at sales this week continue the grievous drop since the season began with superfine wool down 12 percent and broader declines of 8.3 percent in value and 7.7 percent in volume. The Newcastle and Goulburn auctions show thin confidence, despite some top-line specialty wools selling well. The GATT report notes developing countries rising as export earners while overall demand remains weak as wool manufacturers face higher costs.
Castlemaine Brewery Co Melbourne Ltd plans a 1.5 issue of 50c ordinary shares at par on a five for one basis. The firm is the fourth largest shareholder in Carlton and United Breweries Ltd. Tax recorded at $645 and depreciation of $37,502 noted alongside.
The GATT notes a second consecutive harvest lifting exports in developing nations by about B per cent with 9 per cent growth in 1968, 7 per cent average 1963-68. Carlton Brewery and Hicks and Co discuss capital issues. Beecham and Castlemaine report losses. World trade in primary products rose 5 per cent to 584,000 million as metals and machinery demand shifts.
Commonwealth Statistician reports a 14.2 million import surplus in the five months of the current financial year, with only July showing an import excess. Total trade for five months stands at 1,712.7 million in imports and exports, versus 1,698.2 million a year earlier, with seasonally adjusted figures shown.
The Data Services division will install a remote terminal in Canberra and a unit. It would be available to users later this year.
The governor, J. G. Phillips, outlined a new savings account with 4.7 percent interest and a required balance of 500 dollars. The present rate is 3.5 percent, and deposits require 60 days notice with no transactions allowed above 30 dollars. The plan aims to mobilize deposits and push bank facilities.
Births deaths and funeral notices will be received until 9pm. Engagement notices must be signed by both consenting parties and a witness. Elizabeth and Brian welcome Jacqueline Marie. Langtry Mantle announces Jennifer Mary to John Mantle. Prince Wood announces Julie to Byron Prince.
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