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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Dec 30, 1964
Page
4
The bank notes potential growth in finance and industry but warns high price levels threaten internal business continuity. It cites cautious consumer demand, employment changes, and rising costs, with calls for sales promotion and workforce expansion to sustain overall prosperity.
MEI BOURKE reports today that Neon Signs Australasia has appointed Mr W Creer of Quebec as an Inspector under the Companies Act to investigate the affairs of the company. The move accompanies talks on financing and expansion and follows discussions with the Bank of NSW and other lenders about renewals and credit lines.
In a message to stockholders G P Crowle, managing director of Mutual Acceptance Company Ltd, said tangible assets have more than doubled in five years. The forecast highlights a major expansion plan for the company.
The report details drifting of a new offshore well at 18 percent depth, with Arcturus No 1 and Barrow Island No 4 making progress. It notes drilling results, gas production, and potential early dividend returns while outlining stockholder reactions and company plans into December.
W Charlick Continental Oil Co of Australia and associate William Charlick announce plans to explore the northeast coast region of a 10,000 square mile area. The program includes a search concession, repayment of 180,000 pounds at 7 percent, and a new issue of stock to fund operations. A management team will supervise in Australia and Papua, with repayments and interest to holders starting next April.
Fragmented OCR text shows a petition by trustees with garbled phrases about pavers and government oversight. The source mentions a company formed in Quincy and references various misread names, dates, and places, but the exact action, parties, and deadline are unreadable.
The wool industry turmoil centers on a reserve price proposal aimed at stabilising prices. Critics from economists to woolgrowers argue the plan is weak, economically unsound, and impossible to guarantee price stability. NSW and federal authorities weigh the scheme amid widespread opposition from grower groups and industry bodies.
Sydney reports that L. J. Hooker Investment Corporation Ltd, a real estate business, rose 20 percent to £483 million in the year ended November. Home sales turnover reached 149.9 million, with 7.2 percent gross income growth. Directors cited competitive trading in Canberra and new factory style development in Fyshwick as notable changes.
Provisional monthly estimates show consumer spending rising weakly with November sales at £256.4 million against October’s £254.8 million. The figures suggest a limited gain, with seasonal variations and potential distortions from calendar effects. Analysts note the data may understate or mislead about underlying demand and expect more clarity in forthcoming reports.
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