SHARE PRICES IN MELBOURNE
Slight Drop In Week (N.Z. Press Association—Copyright) MELBOURNE, October 14. After opening the week with strong buying pressure, the sharemarket ended at its lowest point for several weeks. Price movements were not large, but falls slightly outnumbered rises, the Melbourne Stock Exchange reports. Good company reports are still coming to hand, but these have not given the market its usual spurt. Among the highlights of company news were the foUowing: The Commonwealth Banking Corporation reported a profit of £2.6 miUion. H. C. Sleigh’s profit rose to a reak of £1.4 million. Olympic Tyre announced a one-for-10 par issue, raising £708,000. Yellow Cab directors have recommended Ampol’s £3 million take-over offer. National Bank profits were down 4.8 per cent.
Retail sales in August in Melbourne were up 5.9 per cent., compared with those for August, 1959, the review said. Turnover in loans increased over the week. B.H.P. .finished the week slightly higher, but most of the other market leaders were down a shade, according to the review.
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Press, Volume XCIX, Issue 29336, 15 October 1960, Page 11
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170SHARE PRICES IN MELBOURNE Press, Volume XCIX, Issue 29336, 15 October 1960, Page 11
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