Holden dealer annual report shows improved sales and profit
J Gilbert notes Holden deliveries were slow but supply issues are largely resolved. Directors of John A Olbert Holdings Ltd report stronger turnover and steady profit compared with the prior year. The William Street office sale closed, yielding a substantial capital profit. In the year to March 31, 6,612 vehicles were delivered, up 14.7 percent from the previous year. Costs have risen since balance date, causing concern.
MENTIONED IN THIS ARTICLE
Witna
John A. Olbert Holdings Ltd
Sydney Holden
William Street
Fed moves could widen control of credit costs
AAP Reuters report says an official study proposes changes to how the US Federal Reserve influences the economy. If adopted, the discount rate would guide weekly policy shifts and set a growing fund level linked to new lending plans. Governors and regional presidents circulate the plan for comment amid a broader review of monetary policy tools.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve System
Federal Reserve
Governor George Mill
Cell
Kerrey
Noranda Seeks Uranium Prospects in Australia
Noranda plans to search ports near Port Lincoln in South Australia for uranium. The Canadian mining group intends aerial surveys and tenement work across a 360 square mile area, pursuing leases and prospects after months of little news on uranium occurrences.
MENTIONED IN THIS ARTICLE
Noranda
Adelaide
Port
Prospects
South Australia
Major suggestions for bank borrowing and policy changes
The report proposes a new automatic facility for member banks to borrow from the central bank with broad credit privileges based on size, usable up to half of weekly reserve periods. It also supports continued need-based borrowing, liberal seasonal borrowing for small banks in resort and farm areas, potential Fed aid to nonmembers in systemic risk, and greater use of the discount rate as a monetary policy tool.
MENTIONED IN THIS ARTICLE
Federal Reserve
Japanese car makers reject foreign capital in Japan
In Hakone, Japanese manufacturers at a weekend meeting with government officials announced a decision against cooperating with foreign capital for car production in Japan. The stance aligns with the Japan Automobile Industry Association’s push for gradual liberalisation of engine imports and opposes immediate establishment of manufacturing companies by foreign capital.
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Hakone
Japan
Foregin
Associated Press
Japan Automobile Indus
Iry Association
Fenel Teade
Ineducte
Tiecmante Umtil
Tonenece
A J Chown raises funds to boost Japanese industry links
The meeting reported A J Chown Holdings raising 504,500 to assist the industry amid liberalisation and expansion. It discussed streamlining the sector, tying with foreign firms, and boosting engine components, with 10,000 shares placed at 50c and 103 employees noted.
MENTIONED IN THIS ARTICLE
Tepid Ag
Lta
Pihaula
Ieee
ITI
J. Chown Holdings
Jenough
T Td
Indus
David Ports
Infic Corporation Ltd
Dustry
P Production Techni
Rate changes urged as binding on all outstanding loans
The report calls for immediate binding of rate changes on all outstanding loans to curb hedge borrowing in anticipation of future rate increases. This stance emphasizes preventing speculative borrowing moves tied to expected rate hikes.
Australian banker becomes governor of reserve bank
Governor designate Soneoe Wees Grant Ips succeeds retiring Dr H C Coombs as Australia’s top banker and new head of the Reserve Bank. He previously worked as a haberdashery salesman at Palmers in Sydney, now part of the Myer group.
MENTIONED IN THIS ARTICLE
Sone Oe Wees
Grantips
Australia
Sas
Reserve Bank
H. C. Coombs
Phillips
Palmers
Sydney
Myer Group
Hecla declares dividend as earnings fall in 1967
Hecla reports an after tax profit of 25.8 percent for 1967 with a big fall in earnings rate due to higher costs and depreciation. Directors note a mild winter and improved sales. books close August 7 with a dividend payable on August 7.
MENTIONED IN THIS ARTICLE
Ouly
Coles and CO Limited Co
Spm
Silver Valley Minerals NL eyes Anglo American talks in Victoria
Directors said discussions with Anglo American Corporation (Aust) Ltd on potential development near Camperdown are preliminary with no finality. Prices for superphosphate will drop, with Mawson bags expected to fall 4c to 75.70 a ton and 20-80 a ton for bulk, after a $6 per ton bounty deduction. no detailed talks with Hamersley yet.
MENTIONED IN THIS ARTICLE
Interstate Oil Ltd
Con
Silver Valley Minerals NL
Anglo-American Coree
Poration (Aust) Ltd
Camperdown
Silver Valley
Victoria
Yasterday
Theymat Mignt
Jota
New
Castle
Hamersley
Pty Ltd
Melbourne Stock Exchange seats change hands and levies
Mr Bruce Irving, 34, wins election as a member of the Stock Exchange of Melbourne after paying 22,000 f of his seat. The last seat to change hands in June was sold for 19,000, with two seats in May. A non-member partner fee of 2,000 is levied on each member as new partners join Lance Grand Co and Malcolm Hazell Co.
MENTIONED IN THIS ARTICLE
Bruce Irving
Stock Exchange of Melbourne
J. C. Grafton
Lance
Grand Co
G. Lother
W. J
The
Stock Exchange
Malcolm Hazell
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