NEWS IN BRIEF

Press, Volume CX, Issue 32349, 15 July 1970, Page 20

NEWS IN BRIEF

Bradmill Issue

Bradmill Industries, Ltd, have announced the issue of $A7m of debenture stock, carrying an interest rate of 9 per cent over five and 10 years. The issue, which will be offered “to constituents of the company” and the public, has beqn underwritten by J. B. Were and Son, members of the Melbourne Stock Exchange. Mining Traders Mining Trades, Ltd, has agreed to purchase from Patrick and Company, their holding in Bill Acceptance Corporation, Ltd. Bill Acceptance Corporation, Ltd, is the largest and most active company in the commercial bill market in Australia and the board considers Wat this additional move into the money market will be of great benefit to shareholders.

Northern Steel

Northern Steel Supplies, Ltd, Auckland, has opened a wire straightening and cutting service in Wellington as a first move in extending its operations, which will eventually include stocking and distribution of a complete range of wire and steel. Beaver Ex. NJL. Beaver Exploration, Australia N.L. has appointed Geo-’ physical Associates, Proprietary, Ltd, of Brisbane, to carry out a seismic survey of the company’s onshore areas on the east coast of the North Island of New Zealand. The, purpose is to locate and define at least two sites for exploratory drilling during early 1971. Beaver holds areas in the North Island under a farm-out agreement with BP, Shell, Aquitaine and Todd Pettroleum Development, Ltd.— (P.A.).