RICHMOND BREWERY

Press, Volume CI, Issue 29716, 9 January 1962, Page 14

RICHMOND BREWERY

Charringtons May Make Offer

A decision by the London Brewers, Charrington and Company, Ltd., on whether to try to buy the Richmond Brewery in Melbourne and its 70 hotels was expected in a fortnight, an associate of the firm’s Australian representative said.

The associate, who is connected with a Melbourne hotel broker, Mr Noel Grave, said a telephone call would be made to London to discuss the situation. £l.Bm Flan

He said he understood Charringtons was considering a plan to pay £l.Bm for Richmond and the hotels and that an option taken on the brewery was due to expire this month.

But Mrs P. G. Hay, widow of the former chairman of Richmond Brewery, said no definite inquiries for the brewery or hotels had been made nor had Charringtons been given an option. The brewery’s general manager (Mr D. F. Smith) would not comment on reports that both Charringtons and Carlton and United Breweries, Ltd., could be interested in taking over the concern.

M.L.C. Interim Div. Raised To 3s 6d The Mutual Life and Citizens’ Assurance Company, Ltd., has increased the interim dividend from 3s to 3s 6d a 20s share. This increase, from 15 to 17$ per cent., is the fifth successive rise in the interim half-year rate. Final dividend for 1960 was raised from 3s to 4s 6d, lifting the year’s rate from 5s lOd to 7s 6d a share, equal to 37$ per cent. Exchange Rates The £ was firmer against the American and Canadian dollars and several European currencies last week, but slightly easier against the West German Deutsche mark. Altered telegraphic transfer exchange rates, as advised yesterday by the Bank of New South Wales, are: New York: buying 2.8050 dollars (against 2.8045 on January 3): selling, 2.7732 dollars (2.7727). Montreal: 2.8304 dollars (2.92C9); 2.8928 dollars (2.8893). Austria: 72.96 schillings (72.64); 71.18 schillings (71.16). Denmark: 19.57 crowns (19.56); 18.89 crowns (18.88). France: 13.87 francs (13.86); 13.48 francs (no change). Norway: 20.26 crowns (20.24); 19.59 crowns (19,58). Western Germans’: 11.23 marks (11.24); 10.99 marks (11.00).