MELBOURNE SHARES

Press, Volume C, Issue 29500, 29 April 1961, Page 15

MELBOURNE SHARES

Prices Ease This Week (N.Z. Press Assn.—Copyright) MELBOURNE, April 28. Share prices on the Melbourne Stock Exchange weakened a little throughout the week, following a crop of unsatisfactory company reports. Rises and falls were in balance, according to the exchange today. Turnover was much heavier and exceeded 500,000 shares on Wednesday. Heavy buying of B.H.P. shares—believed to

be for overseas interests — contributed. A feature of trading was the sustained activity in oil stocks, following speculation on developments in . Queensland prospecting. In company news. Southern Motors have decided not to make a bonus issue following a sharp fall in profits, London Stores reported a lower earning rate. North Broken Hill. Younghusbands and Sulphates have reduced interim dividends. On the other hand. York Motors report a 6 per cent, lift in sales, Ampol is planning a new share issue and Brick Industries announced a 70 per cent, increase in profits. Lysaghts issue has been heavily over-subscribed at 100 per cent, premium. At the close of trading, market leaders shed some of their earlier gains due to profit-taking. B.H.P. closed Is 3d down at 74s 9d. Colonial Sugar was £2 cheaper at £77 10s. and 1.C.1.A.N.Z. lost 2s to finish at 735.