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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 23, 1965
Page
6
Readable fragments show disagreement among industry figures on oil reserves and exploration prospects. Statements from Australian Petroleum Exploration Association and executives question certainty, while others warn against overclaiming potential.
Urquhart says private sector firms often ignore listing requirements until pressed by regulators. He argues changes would shift many government functions into corporate operations, reducing bureaucracy. He notes Australia’s sharemarket under credit squeeze and ongoing policy-induced market flatness while urging stricter cheques on securities and credibility of the market.
The June ANZ Bank index indicates a two point drop following two successive monthly gains after an early year drop. The data point suggests hesitancy in housing and car sectors amid unstable factory product growth.
Sydney Thursday report states Pioneer Concrete Services Limited makes a single cash offer of 15 shillings per share to all Farley and Lewers Limited shareholders. The move targets 200,000 shares. Farley directors indicate openness but emphasize ongoing board policy and acceptance considerations.
The report covers manufacturing, share issues, and economic signals across firms such as Ampex Proete and Plastic Coating, detailing trading activity, capital raises, and production trends. It notes shifts in demand, wages, and investment, with references to New South Wales and Melbourne markets and the broader impact on industry confidence.
On the Sydney Stock Exchange the Share Price Index dipped 0.3 points to 314.61 amid higher turnover as investors react to the earlier positive trend. The oil and mining sectors showed uneven activity with mixed gains and losses across several counters, while major names like Port Kembla and RHP posted declines despite ongoing expansion news.
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