No Significant Trend In Sydney

Press, Volume CVI, Issue 31117, 21 July 1966, Page 19

No Significant Trend In Sydney

(N.Z. Press Association—Copyright) SYDNEY, July 20. The market failed to show any significant trend and was virtually unchanged during the last week, according to the weekly report.

Total daily turn-over of 764,958, including an average mining turn-over of 224,000, was average. B.H.P, lost ground on active trading with the shares falling 8c to 630. Ait tiie annual meeting on July 19, the chairman of Cottee’s stated that no offer had yet been made by General Foods Corporation of the United States, but General

Foods had concluded very thorough and detailed investigations, and should an offer be made, directors expect that it would be made soon, and that it would be 450 a unit of Cottee’s stock. The chairman of Cottee’s also stated that if such an offer were received, it would be recommended. The company’s shares are currently selling at 390. During the last week some of the major price movements in the mining section have been: C.R.A., down 10 to 574; New Broken Hill, down 50 to 480; Mt. Isa, down 14 to 430; and Western Mining, up 18 to 522.

Wright, Stephenson.—The directors of Wright, Stephenson advised the Stock Exchange Association ot New Zealand that since the last balance date 327,714 shares have been Issued for the purchase of property and the acquisition of Fairbairn Wright, Ltd., and W. Secular and Company, Ltd.—(P.A.).