£40 MILLION STEEL INDUSTRY

Press, Volume XCIX, Issue 29367, 21 November 1960, Page 20

£40 MILLION STEEL INDUSTRY

Establishment At Kwinana Planned (N.Z. Press Association—Copyright) PERTH, November 19. The Broken Hill Pty., Ltd., has agreed, on certain conditions, to establish a £A40,000,000 steel industry at Kwinana, 20 miles south of Perth. The agreement was announced in Parliament today by the Premier (Mr Brand) who said the project depended on the Commonwealth Government consenting to build a standard gauge rail link between Kalgoorlie and Kwinana at a cost of £ A 35.000.000. Later, in Melbourne, the Federal Treasurer (Mr Harold Holt) said the Commonwealth was considering the proposal to share in building the standard gauge line. He could make no further comment at this stage. The project would involve the expenditure of £ A 80.000.000 during a 18-year period. Unit Trust Quotes. — Buying and selling Quotations for the N.Z. Income Trust have been reduced Id a unit. The latest quotations are 4s 9d. buyers, and 5s Id. sellers. Quotations for the Ist N.Z. Unit Trust are steady at 4s 7d and 4s lid respectively. Canterbury Pulp Mill.— Early in the New Year New Zealand Forest Products would. expect to re-examine carefully the proposed Canterbury mill, especially with regard to log supplies, said the chairman (Sir David Henry) at the annual meeting of the company in Auckland.—(P.A.) McLeod Brothers Final.— McLeod Brothers final recommended dividend Id per share plus bonus 3d per share payable December 17, ex dividend December 2.—(P.A.) Standard-Triumph. Ltd.—U.K. motor manufacturers. StandardTriumph International. Ltd., announce a group trading profit, after taxation, of £1,825.564 sterling for the year ended July 31, compared with £2.223,739 the previus year.—(N.Z.P.A.) Unit Trust Quotes. — Quotations for the Ist N.Z. Unit Trust have been reduced (from November 17) by 3d, to 4s 7d (buyers) and 4s lid (sellers) respectively. Quotations for the New Zealand Income Trust are steady at 4s lOd and 5s 2d respectively. Hire-Purchase Debt.—Australians owed £427,368,000 to hire-purchase companies at August 31. states a Canberra report. In August 99.445 new agreements were made for goods worth £37,818.000. The amount financed was £25.764,000. Hire-purchase companies provided £18.787.000 for motor-vehicles and tractors during the month.