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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 03, 1964
Page
6
A Tasmanian Trade Mission in Japan reports Japan seeks about 14 thousand tons of dried edible seaweed annually, equating to 7 thousand tons of wet seaweed and a quarter of Japan's total edible seaweed needs. A Tasmanian coast supply is among popular varieties noted in the discussions.
Market advances as the Shelley family signals a takeover bid with an offer to acquire 78 percent of shares. Trading spikes across industrial and mining sectors with Ampol Exploration and Associated Freney showing gains. The overall index climbs and major stocks like BHP and William Adams advance on strong sales and earnings outlooks.
The market reports a firm stance for top quality lambs while light and general trade lambs eased by 4d to 6d per head. About 6 000 sheep were yarded with prices listed for woolly and shorn lambs, and wether quotes showing skin values and weight bands.
Steamships Trading Co Ltd has taken over two New Guinea Territory firms in a deal valued at about £174,000. The acquisitions Nebiri Quarries Pty Ltd and Hagen Hotel Ltd involve 2,449 shares worth roughly £62,056 to acquire a 9 percent stake, with Nebiri Quarries operating a Port Moresby quarry. Directors said the new shares rank equally with existing capital.
Reid Bros Holdings Ltd reports a record £45,939 annual net profit for the year ended with a rise of £7,295 or 18.9 percent. Pre tax earnings reach £76,939 while earnings per ordinary share touch 4.35 percent after a £2,400 preference charge. The board proposes a one for four bonus issue and a 20 percent total payout.
NSW graziers face heavy losses as Australian Fertilisers Ltd increases superphosphate prices by about 25 percent from ex factory levels. Critics urge a joint inquiry by Commonwealth and State ministers, with calls to review the decision and secure freight concessions amid subsidy support. Local producers condemn the move as unjustified and disruptive to primary industry.
Melbourne stock market ended with gains for buyers amid a quiet session as small moves dominated. Export sugar rebate rates for July were set by the Export Sugar Committee with specific cane content adjustments. New Zealand exports influenced by special arrangements.
Sydney reports the new Ardlethan Tin Mine 350 miles west of the city signals a growth era. Open cut mining and export-focused output are expected to narrow Australia’s production gap, with the project backed by government officials and local industry figures.
The commercial manager of Australian Fertilisers Ltd Mr R C J Little outlined the first official company view on a price rise for superphosphate. He cited higher rock, sulphur, and wage costs and said local manufacturing will grow to meet demand, with major expansions planned to return to normal trading.
Stock option transactions in Sydney Melbourne and Canberra are listed with shares and exercise prices. Meanwhile NSW mining notes describe Ardlethan tin field history and a 1964 shift highlighting rising mineral production, with New South Wales contributing over 40 percent of Australia’s output and a record value of £9 million last year.
Japan’s Fisheries Board said Japan seeks 46 percent of the 8,000 whale catch limit for next season in Antarctic waters. Negotiations may broaden beyond Japan Soviet Union Norway and the Netherlands as they try to apportion quotas after a failed 17 nation meeting in Norway. The board noted Soviet insistence on revised percentages and warned that Japan could request a larger share depending on talks.
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