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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Sep 17, 1963
Page
10
On Sydney market turnover dropped as prices rose and fell, the index slipping 2.26 points to 347.24 amid broad declines. Several key stocks led losses while only a few advances appeared, with notable declines in Rothmans and Tooth.
Market reports show Long Road Ltd and Freight services profit drop to £13,522 from £17,484, while Wangaratta Woollen quotes rise on record last year sales. Banks and oil stocks slide. ANZ, Bank of NSW lead declines. oil group weakens with Associated Group prices dropping. Mining turnover dips, Pacific Island Mines climbs amid overall weaker market sentiment.
The Latec group sold its assets at Terrigal including the Florida Hotel and Terrigal Hotel to an undisclosed buyer for £326,000. Contracts require transfer by September. On the same day the company will make a third distribution at 1/6 in the pound on the original investment of first mortgage debentured stock holders, plus interest for the current quarter.
A three man inquiry of the Milk Board examined cost pressures and seven day work for dairy staff. Dairy farmers and vendors urged a price rise as current milk prices in Goulburn are listed by type and unit. The Goulburn Co Operative Milk Society factory manager G Gerathy spoke as producers and vendors supported higher prices amid planned board control of distribution starting January 1 next year.
The Canberra branch of the Australian Goethe Society will award book prizes and certificates to winners of recent German oral tests. Prizes are donated by the Government of Germany and distributed by German Ambassador Dr J Ritter. The event includes a Schubert Mozart concert and poem recitations at Haydon Alley Lecture Theatre ANU School of General Studies.
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