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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 24, 1970
Page
5
Consolidated net profit for Australian Guarantee Corp Ltd, financier and insurer, rose 23 percent to a record $10 million for the year ending June 30, up from $8.1 million. The finance group reported higher earnings from core underwriting and investment activities.
Meramar Minerals Ltd estimates ore reserves at 175,000 tonnes with 0.2 percent antimony and 18 dwis gold per tonne at Golden Spec Prospect near Nullagine. Company outlines a 200-tonne daily treatment plant, aim for full operation and 15 percent dividend, while noting strong profits reported by related financiers and projected income amid government measures.
The company reports steady dividends with a final payout near 5.5 million tied to consols and depreciation. Net earnings show a 31 percent rise in some departments, while gross receivables hover around 2 percent. Year end figures place payments payable on October 30, 196? with large adjustments for prior years. Directors approve a share issue to fund growth and reserve funds for future payouts.
Statistics Bureau data show total registrations in 1969-70 at 498,995 with new motor vehicles also at 498,995. June registrations totaled 40,998, up from 38,282 a year earlier. Seasonally adjusted figures put June at an annual rate of 486,764, with quarters showing 516,208 in March and 490,312 in December.
A brief London midday bulletin notes Poseidon 877-65 scheduled for 12 noon with services or movements linked to the event. No further details provided.
The article surveys severe drought in Queensland with half the state drought affected and inland areas hardest hit. It notes losses in agriculture and pastoral sectors, falling wool prices, grain shortages, and rising debts. Government relief from Queensland and Canberra totals about 13 million dollars for 1970 71 amid calls for a broader reconstruction plan and long term debt relief.
An obituary notice informs of a funeral service for a deceased individual with interment details and invites members of the Right Worshipful Brotherhood to attend. The service is to begin at 1 pm at Berwood Park Crematorium with prayers at the chapel and a procession to follow.
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