SYDNEY STOCK MARKET

Press, Volume CI, Issue 29797, 13 April 1962, Page 15

SYDNEY STOCK MARKET

Improvement In Share Prices

( N Z.P.A.-Reuter—Copyright) SYDNEY, April 12

Share prices improved slightly on the Sydney Stock Exchange this week However, trading was generally ouiet and indecisive The share price index rose 2 03 points to 305 49 on Tuesday after losing 9 points in seven successive falls up to the previous Tuesday. B.H P recovered from a low of 60s 6d to 64s before reacting to 63s 3d on Wednesday. Tobacco companies suffered further losses this week However. Rothmans finished impressively with a rise from 63s to 72s 9d. Sound RallyTelevision Corporation also staged a sound rally. This company, proprietor' of TC.N 9. Sydney, and 62 per cent owners of GT V 9 Melbourne, had weakened on news of the proposal to grant a third commercial television licence in Sydney and Melbourne

Woolworths. at 16s 9d. showed little reaction to news of the one-for-5 par issue

Banks, notablv the Bank of New South Wales, had a stronger tone. Later this week the Treasury will outline new policy proposals which are expected to enhance the profit potential of private trading banks.

London Wool Market Has New Home

(Special Crspdt. N.Z.P.A.) LONDON, April 11. The London wool market is to have a new home. A permanent Wool Exchange is to be set up in the Fruit Exchange building in Spitalfields in place of the existing Coleman Street Exchange which is to be demolished at the end of this year to make way for an office block.

N.Z. Butter Steady.— The United Kingdom market for New Zealand butter is steady with no hint of a change in price. Consumption continues to be affected by the cold spring weather and remains around an estimated 8500 tons weekly.—(N.Z.P.A. I

Business Personal

As a result of the purchase of Kempthome Prosser's Burnside fertiliser works by the Dominion Fertiliser Company, Ltd., Messrs W. L. Cunningham, H. O Taylor, and J. M. Paterson have been appointed to the board of Dominion Fertiliser. (PA.)

A New Zealander, Mr Francis Kirby, 68. is returning to Australia at the end of May to become chairman of the Nestle Company, the ' Evening News” reported. He has been managing director of the company in Britain since 1958.—(PA.)