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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Oct 08, 1971
Page
5
Fragmented financial note shows a mining board in Sydney reporting profits and dividends. Mentions specific figures such as 29,470 and 10,000, with references to a company last dividend and earnings per share. Lacks clear dates or entities due to OCR quality.
The Melbourne Stock Exchange fell as mining shares led losses with CRA and Broken Hill sliding. Uranium and nickel miners sagged while BHP dropped and industrials struggled. West Australian producers and copper plays showed limited gains amid thin turnover and cautious selling.
Australian Treasurer Mr Snedden told a Paris press conference Australia could contribute to solutions to the international monetary crisis. Speaking during a three day visit after IMF talks in Washington he cited the US role and urged not to overlook the value of the present system while remaining open to change. He held talks with French Finance Minister Giscard D'Estaing and OECD Secretary General Van Lennep.
The Australian Wheat Board aims for a record disposal of about 36 percent of its crop this year. Chairman Dr Callaghan said provisional figures for the year ending November 30 indicate exports could reach 30.7 million bushels, surpassing the previous record set in 1966-67. The carryover is projected at 13.8 million bushels, about half last year’s level, thanks to strong sales in Europe, the Middle East, Africa, and Latin America.
President Nixon is expected to outline a post wage price freeze plan to curb inflation after the November 13 expiration. Economists predict modest wage increases and tighter controls, with some flexibility to ease belt-tightening for unions and industries. Wall Street focuses on potential rate extensions and measures to support profit levels and shareholder dividends.
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