Commercial news in brief

Press, Volume CXI, Issue 32706, 8 September 1971, Page 20

Commercial news in brief

Bid for Rotoiti

The shareholders of the Rbtoiti Timber Company, Ltd, have received an offer from an unidentified source to buy 20,000 shares at 135 c a share, first come, first served. The latest quotations were 75c buyer—no seller, and the last sale was at 95c. During 1971 the range of prices has been 90c to 95c. Interested shareholders should consult their broker immediately, the offer said.

Hamersley div.

Hamersley Holdings, Ltd, has declared an interim dividend of 20 per cent, in line with earlier forecasts. In March last year the company forecast a 40 per cent dividend rate for this year. The dividend of 5c a share, will be paid on October 29 to shareholders registered on September 24. Hamersley last month reported a lift in earnings for the half-year to June 30, from $11.5m to $14.6m, although profits showed a marked slowing in the second quarter.

Profit forecast Rothmans of Pall Mall (Australia) Ltd, says that the board of directors views the oncoming year with caution and forecasts that, in the absence of favourable developments, a lower profit is expected. The dividend is not expected to be affected. The “grand experiment” of growing a tobacco crop in Uritoka, in the highlands of Papua, New Guinea, was an outstanding success, producing a lush crop far beyond the most optimistic hopes of the company, the company says. —(P.A.)

More ore for Q.M. Queensland Mines, Ltd, announced yesterday that additional mineralisation had been intercepted at Nabarlek, increasing the known reserves of uranium oxide by 1500 short tons to 10,500 short tons.

Broker found dead A leading Queensland sharebroker has been found dead in his holiday home on Queensland’s Gold Coast. The police discovered the body of Mr Robin Corrie, reputed to be one of the state’s most wealthy men, when they broke into his holiday home. He had been reported missing by his family in Brisbane.