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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Dec 19, 1969
Page
7
Stock exchange prices show mixed movement with several large names down modestly. Notable declines include Marth Des and Tareet while Melbourne sales and mining interests show varied activity. Market notes mention a few gains and losses across multiple sectors amid uncertain sessions.
Sydney traders and Eve s group vote reversed a prior plan to close the exchange on certain days. The reopened schedule keeps the marketplace open on specified days to provide service to businesses and clients, with brokerage houses noting continued operations beyond the voting period.
The report states David Syme faces forced resignation from the board of David Syme and Co Ltd. Sir Neill, chairman, and Colonel Newt witness the disclosure as the Victoria era broadcasting stake ends. The move follows scrutiny over leadership and station control, with Syme stepping down amid concerns about directors and stewardship.
Fragmented report notes rising sugar output and corporate concerns at Takermany mills. It mentions board directors and potential resignations amid plans to complete crushing this week and projected increases around 4 000 tons.
An Indian industrial group seeks to establish an office in Australia and expand ties with Indian and Australian companies. Tata representatives cited potential benefits from joint ventures in steel, engineering, and hotel development, aiming to boost trade and manufacturing links between the two nations.
A volatile session sees mixed results for new mining listings as prices fluctuated in early trading. Stocks opened around 40 cents, slipped through the day, with the market showing uneven demand and some gains late, ending among narrow ranges.
Minister for reads and industry My Me iwen announced yesterday that New Zealand Australia Free Trade Agreement will include additional classical land terms in the deal. He said the trade pact’s scope will extend to more goods and conditions, with a continuing process to broaden coverage.
A Finance Ministry summary notes Australia faced an era of development with rising national product in October and September. It highlights higher per capita income, rising overseas capital, and unemployment pressures. The bank warns wage restraint and cautious fiscal policy, while government actions aim to offset stagnation in a fragile economy.
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