NEWS IN BRIEF

Press, Volume CX, Issue 32462, 24 November 1970, Page 18

NEWS IN BRIEF

Bridgevale listed The ordinary shares of Bridgevale Consolidated, Ltd, have been listed on the recommendation of the Christchurch Stock Exchange. The company, which has transport and coal mining interests, has an authorised capital of $400,000 in 800,000 ordinary shares of 50c. The subscribed and paid-up capital is $223,874. Inflation report Governments should be prepared, if necessary, to accept a temporary reduction in the rate of economic activity until signs emerge of better price stability, a top-level report on inflation said. The report, by Mr Emile van Lennep, Secretory-General of the Organisation for Economic Co-operation and Development (O.E.C.D;), describes as highly dangerous the idea of merely trying to do no worse

than other countries. No justification existed, after the experience of the 19605, for price-incomes policies to be a substitute for proper management policies, the report said. Tasminex claims Tasminex NL is negotiating with the Queensland Government for exploration rights over coal and base minerals. The company has undertaken an exploration programme, initially aimed at its areas in Tasmania. The directors said that no work had been done on the 14 mineral claims held to the south-west of the joint venture with Tin Creek Mining NL, at Mount Venn, Funds available for projects at the end of the year stood at $481,643.

Large coal find Drilling in the Hunter River valley of New South Wales had disclosed 190 million tons of soft coking coal to date, the chairman or Consolidated Gold Fields, Ltd (Mr J. D. McCall) said in his annual review.