The Sydney Morning Herald from Sydney, New South Wales, Australia • Page 29

29 SMH, Friday, July 21, 1989 PERSONAL NOTICES The Sydney Morning Herald BIRTHS, ENGAGEMENTS, DEATHS, ETC BUSINE Summary of Death Notices DEATHS DEATHS POOLEY. May Winifred (Win). BLACK. Percy. Julv 19.

1989 Julv IB. 1989. at Bethany Hostel Eastwood, loved wife of the late late of Willoughby. dearly loved Frederick, dearly loved mother nusoana or tne late Flossie, loved I and mother-in-law of Bill and father and rather-in-law of June and Ron (deceased). Rae and Bill Beth.

Pat and John and Eula (Sister Celestine. dearest led. AGF far Bonnie and Roy. dear pa of Geoff. Karen.

Robyn. Rowena. Debbie, nana ot tnzaDetn. rvncnaei Anthony. Justin.

David and Phil ram. uarren. Mandy. Barbara Loraine and Randal, brother of Lil lipa and great-grandmother of BLACK. P.

BOWLER. CM. CHISHOLM. G.C COOKE. W.V.

FANG YUEN. W.M. FEROS. I.V. GARDNER.

J.E. HANDS, A. V. HARRIS. WJ.

HETHERINGTON. A. HYNDMAN. M.M. ILBERY.

BJ. JACKSON. K.H. JOHNSTON. G.M.

ROBERTSONS RUFFORD. H.M. RYAN. W.P. SHAKESPEARE.

H. SMITH. A. STANTON. R.

SVENSSON. O. TAMOURANTZIS. WALKER. RE.

WALMSLEY. M.G. WHITt HOUSE; M.C. WHITFIELD. JX.

WILKIE.G.D. WILLIAMS. F.D. LARKMAN. B.H.

LEVER. D.M. LEVY. ME. LONG.

N. MACBETH. N-A. MCKENZIE. G.

MONAGHAN. E.M. MONTGOMERY. A. NORING.

R.A. PARADINE. AH. POOLEY. M.W.

RAYNER. L. REGAN. A. ROBERTS.

E.V. Emily. Aaed 91 vears. She gave us life and love, may the fullness of life be hers BOWLER. Cecelia May.

July 20 1989. at hosoital late of Sanctu Please watch these columns for funeral details. ary Point and formerly of Nepean Dam. loving wife of the late Jack Bowler and loved aunt and great-aunt of her nieces and Offshore buyers move in on local dollar to lod. DAVMED I ul I 1 1 QQQ go nepnews and their families.

Aged 80 years. Rest in peace. late of Castle Hill, formerly The Entrance, loved wife of Jack (deceased), dearest sister of Hazel, will be sadly missed by her CHISHOLM. Gertrude Catherine. many nieces and nepnews and FUNERALS FUNERALS July 20.

1989. at RGH Heidelberg, late of East Brighton Vic. formerly of Waramanga A loved wife of the late Alan ineir famines. Aged 93 years. At rest.

Cremated July 20. 1989. BORG. The relatives and friends of Mr. Mrs Martin Borg.

of Bosiey Park, are invited to attend returns mother of Joyce. Neil (deceased) and Margaret, mother-in-law of Basil and Ellen, grandmother of Leonie and John. Maureen. Tricia and Martin. Gerard.

Peter and REGAN. Anthony (Tony). July tne Reauiem Mass for tneir dear 13. 1309 toeaceru v). late ot loved son DARYL PAUL BORG Narrabeen and County Mayo great-grandmother of Nicky.

MILLER. A service for the late GLADYS MILLER will be held at the graveside in the Botany Cemetery, this Monday afternoon (Julv 24. 1989). commencing at 31 So clock Please assemble at the cemetery gates. WALTER CARTER Pty Ltd 302 Oxford Street.

Woollahra. (02) 389 3499 FDA of NSW to be celebrated in Our Lady of Mount Carmel Church. Mount Pritchard. tomorrow (Saturday isiano, aeariy loved nusband of vate. iviarinew.

Katie nose. Rest at last Katncia. loved father of Patrick morning), appointed to com and dear brother of Pat. Peter (deceased). Tom (deceased).

Mickie. Cath. Frank. Joe. Brian mence at 9.30 clock COOKE.

William Victor (Dick). Following the service, the funeral will leave for the Pine ana rviary. May he rest in peace. Grove Memorial Park. court told tuiy 13.

1989. ot Foint Frederick, eloved husband of Valerie, loved father and father-in-law of Ken and Ann. John and Norah. Elizabeth and Larry Tonks. dearest pa Funeral arrangements to be announced A O'HARE LEICHHARDT.

MONAGHAN. Requiem Mass ot Steven. Kaiene. Megan. Laot ian.

Linoa mil and jenny, great 5691995 569 181 ROBERTS. Eileen Veronica. July granaratneror In his 84th vear. God gently put His arm around rum ana wnispered to rest" BOWLER. Requiem Mass for the 1 3B3.

at nursing nome. tamp-sie. late of Belmore. dearly loved wife of the late John, loved mother of Doreen. and fond mother-in-law of Give, dear Gran of Mark.

Damian. Philip and Michelle. John. Jane. Angela.

Catherine Family service held at Palmdale repose of the soul of the late CECELIA MAY BOWLER will be ror tne repose or tne soul or Mrs ELIZABETH MARGARET MONAGHAN. of Pymble. will be offered in Corpus Chnsti Cathedral. Mona Vale Road St Ives, on Saturday (July 22. 1989).

commencing at 9 30 am. The funeral will leave the cathedral at the conclusion of the Mass for the Northern Suburbs Lawn Cemetery. BULL PTY LTD AFDA 519 5344. crematorium. Friday (today).

10.30 a.m. celebrated at St Marvs Cathol Church. Concord. Monday (Jul ana paui. agea so years.

May she rest in peace. 24. 1989). commencing at 10 3 COOKE. William Victor (Dick) am Julv 19.

1989. of Point Frederick At conclusion of Mass the cortege will leave for Rookwood ROBERTSON, Phyllis. July 19. Lawn cemetery MULLERS FUNERALS. Established 1 870 beloved husband of Valerie, loved brother and brother-in-law of Phil and Bill Todkill.

Eric and Wendy Cooke. Ted and Dot Lorrimer (deceased). Viva and Wen Tomlinson (deceased). Bill and Mol Arnold. Amy and Ross 1303.

late or Arncnrte. aeariy loved wife of Bill, loved mother of Jean and Bill, fond mother-in-law and loved nan of their families, loved sister and sister-in-law of NOWRA HUSKISSON CULBURRA. (044) 21 2 148 or 41 5029 NORING. Requiem Mass for the rieatnerana Kan. Calcutt Loved uncle to their families.

CAMPBELL. Reauiem Mass for RUFFORD. Helen Marion. Julv the eternal repose of the soul of eternal repose of tne soul of the late ROSE ADELLA NORING. of Burwood.

will be celebrated at Holy Innocents Catholic Church. 3 Webb Street. Croydon, tomorrow (Saturday), at 9 a At the conclusion of the Mass the cortege will proceed to the Rookwood Catholic Cemetery FANG YUEN. Wilma May. July the late JOHN ERNEST CAMP BELL, of Belmore.

will be cele 13. 1383. late or uonoi and Empire Bay. beloved wife of the late Bill Rufford. loved mother and mother-in-law of Peter and Diana.

Janice and Santo Consoli brated in St Therese Catholi 13. isbs. late or Mrwan ana Cherrybrook. wife of Leslie and mother Leslie and Marissa (deceased) mrirher-in-law of ByTOBYDARVALL MELBOURNE: Offshore investors took advantage of the Australian dollar's weakness yesterday and pushed it higher against a stronger US dollar. The dollar rose 8 points to US74.83c in trade dominated by offshore investors.

Many local corporations did not enter the market, fearing the volatility which prevailed on Wednesday. The dollar opened at US74.35c, 35 points off its previous close, after investors continued to sell on New York and London markets in response to an unfavourable report by London-based broker Citicorp Scrimgeour Vickers. The dollar climbed steadily from its opening on strong European support. It was further boosted by rumours that the Reserve Bank was again supporting it. The release of retail sales and housing finance figures, which indicated a slowing of economic activity, had little effect on trading.

Retail sales fell 4.9 per cent and finance for owner-occupied houses fell 3.3 per cent, renewing expectations for an easing of monetary policy. A stronger US dollar placed Church. Yerrick Road. Lakemba on Monday next (Julv 24. 1989) Tuyet.

grandmother of Kimberly ano aear granamotner or Joanne. Stephen. Roslynand Ian. Aged 75 years. At rest.

and Ashley, sister of Audrey and at 9 a A private interment will follow No flowers by request. irene Loved and remembered always. METROPOLITAN BURIAL AND CREMATION SOCIETY BURWOOD 744 2178 A of RUFFORD (nee Colquhoun), neien Marion. juiy 19. 1989.

late of Bond! and Empire Bay METROPOLITAN BURIAL CREMATION SOCIETY. A of NS FEROS. Irene Vasllia. lulv 19 RILEY. The relatives and friends dearly beloved sister of Peter 13BS (suddenly), late or Gale Road.

Maroubra. dearly loved ROCKDALE 59 6066 (deceased) and Lawne. dear sis-ter-in-law of Norma (Bondi) and dear sister-in-law of Phyllis King daughter ot the late Michael and CONWAY. Requiem Mass for of the late jOSEPH RAMSDEN RILEY of Roselands. are invited-to attend his funeral service, to be held at the graveside in the General Lawn Cemetery Woronora.

Monday next (July 24. 1 989). at 3 30 p.m. Please meet at the cemetery office. It-essnocKj.

She will be sadly missed. vasilia. loved sister or George Basil. Peter. Petula and Mary sister-in-law of Mary.

Dianne and Alan, loved aunt of Michael the repose of the soul of the late THOMAS (Tom) CONWAY will Leo. Vicky. Michael. Paul, and be celebrated in St loseDh RYAN. William Patrick.

lulv 70 Simon. Aged 35 years. Catholic Church. Albert Street Edgecliff. this afternoon (Friday) commencing at 1 30 clock Mr Burrows certain accounting practices are "more serious abuses than insider Warning on insider trading 'hysteria' 1989.

oeioved nusoana ot vera, loved father and father-in-law of Leslie and Penny. Ernest and Karen. William and Jenny. Kevin On conclusion of prayers after Mass the funeral will leave the GARDNER. Joan Elizabeth.

July METROPOLITAN BURIAL AND CREMATION SOCIETY. A of BANKSTOWN 709 5044 church for the Waverley Ceme and Louise, fona grandfather ot Shane. Chris. Danny. Andrew.

Julia. Melissa. Aimee and Sam 13. I33 late or RILEY. The members of Pen- Newport tseacn.

aeariy loved wife of Walter (deceased), adored mother of Ian. Ross. Anne and their families, aged 64 years Special friend to many. Will be tery. WALTER CARTER Pty Ltd 302 Oxford Street Woollahra.

(02)389 3499 FDA of NSW RYAN. William Patrick. July 20 1989. loved brother and broth saaiy misseo. shurst RSL Sub Brancn and Club are invited to attend the funeral of their late esteemed member.

JOSEPH RILEY For further particulars please see family notice RICHARDS. Welfare Officer er-in-law of Yvonne and Alan, and uncle of their family. For funeral arrangements piease waicn tnese columns. SHAKESPEARE. Hazel.

July 20. DRUMMOND. The relatives and friends of the late ELAINE HANDS. Avis Victoria. July 1 9.

LENORE DRUMMOND Of Pvm 1999. at nospita ate of Eas ROBERTS. A Reauiem Mass for ble. are invited to attend her twood, beloved mother of 1989. at calvary riospitai.

Canberra, after a short illness, beloved wife of William (deceased), loved sister of Elsie (deceased). Bert (deceased). Ray (deceased). Cecil (deceased) and Violet At peace. funeral service, to be held at St Dorothy and lack, ovina moth.

Swithurns Anglican Church. Cor er-in-law of Ivan and Marie, dear granamotner ot Ivan. Greg. Rob ner of Maryvale Street and Telegraph Road. Pymble.

Monday (July 24. 1989). appointed to ert. Susan. Leonie.

Philip and commence at 10 30am. Ralph. Rest in peace dear one. the repose of the soul of Mrs EILEEN VERONICA ROBERTS will be offered in the Church of Saint Therese. Garrong Road.

Lakemba. on Saturday (July 22. Funeral will leave the church after Mass for Catholic Lawn Cemetery. Rookwood. BULL PTY LTD AFDA 519 5344.

SMITH. Alice. July 20. 1 989. late At the conclusion of the service the cortege will proceed to the ot Kingsgrove.

rormeriy or Please watch these columns for Helensburg. dearly beloved runerai arrangements. Northern suburbs cemetery. mother and mother-in-law of $AUS 743 0.08 TW1 58.20 Overnight cash 18.00 STDY 90-day bank bills 18.03 10 year bonds 0 02 Lloyd. Sylvia.

Audrey and Gordon (deceased), dearly loved sister of Olive and Ada. much loved grand HARRIS. William lames. lulv 1 9 GREGORYand CARR. KU-RING-GAI.

mother and great-grandmother of Gall. Gae. Sandra. Pamela. Robyn and their families.

19S9. at war veterans coiiaroy Plateau, formerly of Gloucester, husband of Jean and loved father ROBERTSON. The relatives and that Mr Ross would continue to have an influence in its affairs. Justice Cohen expressed his sympathy for the plight of small creditors in ACF, but added that it was outside his power to vary the scheme put before him. Mr Murphy said outside the court yesterday that the approved scheme was considered to have many advantages over the uncertainty and expense of instituting civil proceedings against Mr Ross to recover money.

Such an action would probably not be heard until late 1992, by which time any existing assets could be severely diminished by the costs of administration of the company and by Mr Ross's legal costs in defending litigation brought against him by the liquidator. Mr Murphy also said the Ross family had several well established trusts set up for the benefit of their children, trusts which might prove difficult to break down in civil proceedings. Mr Ross and his wife have vacated their Mosman home and now reside at Turee Station, officially valued at between $5.5 million and $6 million. If the $5.5 million obligation to creditors is not met within the time set, it will increase to $6.2 million and any further default would allow the scheme administrators effectively to seize assets for the benefit of participating creditors. As part of the deal, the liquidator and all but two of the creditors have given written undertakings not to pursue any civil proceedings against the company or Mr Ross, and to abandon plans for a special Supreme Court examination into the company's activities and demise under section 541 of the companies code.

ACF creditors have so far been paid 25c in the $1 by the liquidator. The scheme approved yesterday will pay a further 25.64c in the $1 between now and 1992, and any further unknown dividends that may result ACF will now revert to proprietary company status. Mr Ross made an undertaking to the court that ACF would not recommence carrying on the activities previously carried on by it in relation to the public, and that it would be advising Ross-related companies only. However, its activities will include the monitoring of current interest rate strategies, offering advice to Ross-related companies on interest minimisation, and investigating and developing new business opportunities. A lengthy committal hearing into multiple alleged breaches of the companies code and the Crimes Act over the collapse of ACF is due to commence in mid-August.

Mr Ross has pleaded not guilty to the charges. By ANNE LAMPE Failed finance group Australian Corporate Finance Ltd, which collapsed in October 1987 owing creditors $26.5 million, failed to lodge annual returns from 1981 to 1987, it was revealed in the Supreme Court yesterday. The revelation came during an application by the company's liquidator, Mr John Murphy of Arthur Andersen, to have a complicated scheme-of-arrange-ment approved by the court, whereby the liquidation would be terminated and the company shell returned to the family of Mr Bernard Hugh Ross. During the proceedings it emerged that not only had ACF breached the companies code by failing, over a number of years, to lodge annual returns or audited accounts with the NSW Corporate Affairs Commission, but that the company's former managing director, Mr Bernard Hugh Ross, was doubtful if accounts for 1986 and 1987 could now be reconstructed because the necessary accounting records may not be complete or available. It also emerged that Mr Ross, who is facing multiple criminal charges over the collapse of ACF, was a director of another collapsed company, BJ Homes Pty Ltd, which failed in Queensland in 1981.

Mr Ross said in an affidavit tendered to the court that he could not recall the ajiounts paid by the liquidator of that firm to creditors, or whether a section 418 report was lodged with the Queensland CAC by the firm's liquidator. Under the complex scheme-of-arrangement approved by the court yesterday, Mrs Susan Ross and former ACF company secretary Mrs Patricia McArthur will take back ACF from the liquidator in return for making a series of payments, totalling $5.5 million, to creditors between the end of this month and 1992. It is that tax losses accumulated within the company will assist in the making of those payments. The scheme will kick off with a $500,000 payment within two weeks, followed by a further payment of $1.9 million on November 30 this year; $550,000 on March 31, 1990; $1.05 million on March 31, 1991; $1 million on March 31, 1992; and $500,000 on September 30, 1992, and an amount of interest. Y.

The scheme was approved by all but two creditors, Mrs Patricia Moore and Mrs Catherine Dwyer, Vvho objected to several of its aspects. Mrs Moore objected to Mrs Ross and Mrs McArthur being so closely involved with the company, and expressed concern 498 4455 of Anne and Ronald and their HEAD OFFICE. FDA. NSW Aged 9b years. At peace.

ramines. loved brother of Jean. Aged 78 years. At peace. friends of the late PHYLLIS ROBERTSON, of Arncliffe.

are invited to attend her funeral, to leave St David Anglican Church. Corner of Forest Road and Pitt-Owen Avenue. Arncliffe. on Monday next (Julv 24. 1989).

on conclusion of service commencing at 2 15 pm for the Woronora Crematorium. FANG YUEN. The relatives and friends of the late WILMA MAY STANTON. Reginald (Mac). FANG YUEN are kindly invited to HETHERINGTON, Allan (Happy) attend her funeral service, to be By MARK SKULLEY A key figure in the Australian Securities Commission has issued a warning against "heightened hysteria'' over insider trading cases.

Mr Mark Burrows, chairman of the ASC's statutory advisory committee, said the years of the strong run on the Australian sharemarket had seen "blatant abuse" in the area of insider trading. But Mr Burrows made a plea for Australia's laws on insider trading not to be tightened to a point where they had "incredible consequences on normal commercial He told a seminar on insider trading in Sydney yesterday that Australia's laws covering the offence should be changed on "commonsense" lines, using the legal principles of fiduciary duty and equity. The seminar, which attracted about 300 people, comes after the highly publicised arrest on Wednesday of the former Tricon-tinental chief, Mr Ian Johns, on five charges including insider trading. The comments by Mr Burrows highlight a different emphasis on insider trading between the ASC and the National Companies and Securities Commission. The ASC chairman, Mr Tony Hartnell, already has said insider trading is "not a top priority with Mr Burrows said yesterday the prosecution of "very high profile cases" as launched in the past few days would continue.

But he said certain accounting practices and put-and-call options were "quite clearly more serious abuses than insider Earlier, Mr Tom Hughes, QC, issued a warning that companies organising corporate roadshows for investors and brokers should stick to generally available information if it had any quality of price sensitivity. Mr Hughes also made a clear verbal swipe at recent comments by NCSC chairman Mr Henry Bosch, although Mr Bosch was not named. He said prosecuting authorities should stick to the bona fide legal view, as opposed to the emotional response, on whether a case constituted insider trading. It would be shocking for such an authority to proclaim belief in a person's guilt concurrently with their trial, and wrong to blame the relevant legislation if that person was acquitted. Julv 19.

1989. of Kinasford June 28. 1989. much loved husband of Mildred, and father of Dick and Margaret. August 13 1897-June28.

1989 held tomorrow (Saturday, lulv ii (29th Batt. 2nd A.I.F.). beloved husband of Bonnie, fond brother 1989) at tne Northern suburbs Crematorium, to commence at HARDY -ot mil. Donald, jack and Dick. Ivy A.

of ROCKDALE 599 4400 SVENSSON, Oscar. Julv 19 koiiv. Marge ana Jeannie (deceased). For funeral details please watch lusuam. TSI ANDREWS.

In6 Allan Walsh HORNSBY. 477 3272 HURSTVILLE 57 1554 inese columns. RUDD. The relatives and friends NEWTOWN RYDE UVMHUAU 4 A 51283. AFD.A.

8072732 1 989. at hospital, late of Arncliffe. dearly beloved husband of Pearl, loving father and father-in-law of Kevin and of Dawn (deceased). Rosemary and Bill. Elaine and Dennis.

Carol and Robert, loving grandfather of Gary. Kim. Brian. Rodney. Nicole Davin.

Mark and Jeffrey, and great-grandfather of Natalie and Jason, and loved brother of May Mangan. Aged 82 years In God loving care. juiy 13. I3B3. at Miriniam (Canberra), beloved wife of James (deceased), loved mother and mother-in-law of Jill and Blair and FELBER.

The relatives and loved grandmother ot Dennis, Of WILLIAM HARLcY RUDD. late of 86 Victory Parade. Toronto, are invited to attend his funeral to move from the Anglican Church of Christ The King. Brighton Avenue. Toronto, this afternoon after service commencing at 1 39 clock, for the Sandgate Cemetery.

BERESFIELD FUNERALS. (049)66 5277 friends of CARL FELdF.r are I imotny. tnzabetnand Anne. At Deace. invited to attend his funeral service, to be held in the chapel of Funeral to take place in Can- Kookwood L.rematorium.

tnis rn perra toaay (J uiy i 1 383). day(July21. p.m. ILBERY. Beth Jewell.

July 19. W.N BULL PTY LTD TAMOURANTZIS. Constantina i 303. at Kertn formerly or Neu A. FDA.

519 5344 RUFFORD. The funeral, service tral Bay. loving wife of the late uina. juiy 13. 1389 (suddenly), at home, dearly beloved wife of Dimitrios (Jim), beloved mum of Arthur and Poppy, aged wniiam sawers iiDery.

motner or William (deceased). Jonathan (deceased) and Peter, and grandmother of nine affectionate for the late HELEN MARION RUFFORD, of Empire Bay. will be held in the chapel at Palmdale Crematorium. Palmdale Road. Ourimbah.

on Monday next (July 24. 1989). commencing at 1 1 30 a m. Please assemble at the S3 years. We miss her.

grandchildren Born on 8th November. 1895 at Perth. She friends of the late JOHN VICTOR HARDMAN are kindly invited to was tne fourth daughter of Edward William Mayhew (son of Edward Mayhew. surgeon N. of Heartfordshire) and Aanes Maria TASKER.

Ronald Henry James. attend nts runerai service, to De held in a chaoel of the Eastern Suburbs Crematorium, next Tuesday (July 25. 1989). commencing downward pressure on the local currency by rising 28 points against the yen to 142.1, and climbing from 1.895 marks to 1. 9 14.

Its rise came amid speculation that the US Fed was under pressure to maintain a tight monetary policy following the release on Wednesday night of a worse-than-expected trade deficit in the US. US dollar trade was dampened as many investors awaited the outcome of the presentation to the US congress by the Governor of the US Federal Reserve, Mr Alan Greenspan, last night. Locally, the Reserve Bank's trade-weighted index rose from 58.1 to 58.2, while the dollar rose 39 points against the yen to 1 06.33. Interest rates were little changed with many investors awaiting a clear line from the Government on interest rates. Ninety-day bills were steady at 18.03 per cent and 180-day bills rose four points to 17.83 percent.

Cash rates rose slightly when the Reserve Bank left the banking system in a cash deficit after it had opened with $100 million surplus. Reserve Bank sales of Commonwealth Government securities and repurchase agreements forced official cash up 5 points to 16.85 per cent and unofficial cash up 20 points to 1 8 per cent. Jewell (daughter of Richard Roach Jewell. w.A. Architect).

CREIGHTON Central Coast Funeral Service Gosford 24 1533 FDA. juiy 13. 13B3. at nome. oeiovea husband of Marilyn, and formerly Clare, loved father of Kevin.

Gail. Mark. Brian and Ryan, dearly loved father-in-law of Kerrie Vivien, and Mendith. and loved poppy of their children, aged 62 years. Good luck mate.

At peace. NQR buys gold option at i i is a m. Please meet at the crematorium WOOD COFFILL FUNERALS FDA of NSW RANDWICK. 399 9988 JACKSON. Kevin Henry (Peter).

juiy i i i di nis restoence. OT RYAN. Reauiem Mass for the St Marys, devoted father and father-in- aw of Ron vn and Keith Susan. Steven and Jinny. Julie and repose of the soul of the late WILLIAM PATRICK RYAN, will be celebrated at St Mary Church.

Ridge Street. North Sydney Monday next duly 24. 1 989). WALKER. Roslyn Elizabeth.

July lony. and loved grandfather of their children. Sadly missed by all his family and friends, aged 55 i 1303. at nospitai. late or Darlinahurst.

dearlv loved mother at 1 0 a m. years HARRIS. The relatives and At the cone uston of Dravers Forever in our hearts. friends of the late WILLIAM following Mass. the cortege will JAMES HARRIS, of Collaroy and mother-in-law of Simon and Jennifer, dearly loved grandmother of Gordon.

Jeremy. Daniel and Rachel, fond sister of Roger. We loved you tor your courage Kiateau and rormeriy of GiouceS' JOHNSTON. Gwen Mary. July leave ror tne Nortnern suDuros Catholic Cemetery KENNETH MAURER FUNERALS.

ter. are invited to attend his funeral service, to be held at the is. 13B3. rono wire or Lang and strength. Privately cremated.

loving mother of Jeff and David (deceased), fond nanna to Guv Northern Suburbs Crematorium Monday (Julv 24. 1989) 955 1510 9555813 ana Amanaa. appointed to commence at 10.30 Exploration can exercise its option over the tenements for $2.5 million within 12 months, after spending a minimum of $300,000 on evaluating the prospects. NQR also has signed a farm in agreement with NQC over a series of gold prospects at Ravenswood, also in north Queensland, giving NQR the option to either earn 51 per cent or buy the whole property. NQR recently commissioned its Disraeli gold mine near Charters Towers.

PAUL SYVRET BRISBANE: North Queensland Resources NL has bought an option over the North Queensland Company's 72 per cent controlled Far Fanning gold tenements. As foreshadowed in the Herald, the sale follows a decision by both the NQC and its 28 per cent joint-venture partner BHP Gold against further investment in the Far Fanning project in north Queensland. BHP Gold's stake also is on the market. Under the agreement, NQR subsidiary Strategic Resources a.m. WALMSLEY.

Martha Gertrude. Ken Maurer Bruce Maurer. PERSONALLY 263 MILLER STREET. NORTH SYDNEY. AFDA.

At peace now. Please meet at the crematorium LARKMAN. Barry Howard. July July 1 9. 1 989.

dearly beloved wife of Arthur James (Coach, deceased), loved mother and mother-in-law of Ken (deceased) and Jean. Betty and Geoff. Arthur and Margaret, fond grandmother and great-grandmother of ther GREGORYand CARR. MONA VALE BRANCH i. 1383 (suddenly), beloved husband of Steohanie Invina SELBY.

The relatives and friends rainer or dive, uawn ana fevin. of the late WALTER CLAUDE' SELBY are kindly invited to attend his funeral service, to be Yet I do fear thv nature it ic inn HEAD OFFICE. FDA 498 4455 NSW famines. run tne miiK or numan kindness. held Monday (Julv 24.

1989). in the crematorium chapel at Forest Lawn Memorial Gardens Cam For funeral details nhnnp I a WHITEHOUSE. Maria Catherina. Pine Heritage Funerals on (03) den Valley Way. Lepoington.

July 19. 1989. at nospitai. late of Hillsdale, dearly loved wife of service to commence at HATUMALE. The relatives and rn Henrv (deceased).

beloved friends of the late PETRUS HATUMALE. of Belmore. are motner of Madeleine. Arnold LEVER. Doris May (Dorothy).

piease meet at enap -J SYDNEY FUNERAL SERVICES invited to attend his funeral, this (deceased), tnez (deceased). Har riete and Frank, loved moth day (Friday), to leave our funeral u. 1989 (suddenly), at hospital, late of Concord, wife of Frederick Elwood (deceased). er-in-law and grandmother of home. Railway Parade.

Lakemba FDA. NSW AFDA MINCHINBURY 625 8066 PENRITH (047)21 5399 tneir families. Man after service aooointea to com mence at 2 asters oeiovea motner ot rvianiyn (Mrs At rest. Mason) and Frederick, moth At the conclusion of the service the funeral will leave for the SEWELL. The relatives and er-in-law of John (deceased) and Barbara, loving grandmother of Frederick.

Julia. Cathy. Diana and fail art friends of the ate WALTER WHITFIELD. John Edward (Ted). WILLIAM SEWELL.

of Allambie Nicola. juiy ic. 1383. late or tpping dearlv loved husband of Gladys Heights, are invited to attend the Woronora Cemetery. DIGNIFIED FUNERALS.

FDA NSW FIVE DOCK 713 191 1 Aaed Bl vears. For funeral details please watch father and father-in-law of Faye and Bruce Steele. Elizabeth and funeral, today (July 21. 1989): at 2 at French Forest Lawn Cemetery. in fu nd tnese columns.

LAKEMBA. LEICHHARDT Kooert Adams. Barbara and David Rees and grandfather of ECONOMIC UPDATE '89 759Z51Z. SHAKESPEARE. relatives Warwick.

Rebecca and Cameron LEVY. Mavis Edna. July 20 ano rrienas or tne uite Mrs 1989. at hosDital. late of Page- Adarns.

Miriam, fcmma and Mar tin ReeS wood, dearly loved wife of Ron Aged 75 years. HAZEL SHAKESPEARE fare respectfully informed' that tier funeral will- leave "'Phillip Anglican loved and loving mother of Arthur. Dawn (deceased). Patricia. Ronald and Colleen, very dear mother-in-law and nana of their JACKSON.

The relatives and Street. Connor. ACT. after a service to commence at 1 2 noon. WILKIE.

Gwendolen Doris famines, aged 71 years. May she rest in peace. Monday (Julv 24. 1989). for the Norwood Park Crematorium.

Canberra. (Wendy). July 1 9. 1 989. late of Blakehurst.

beloved wife of Leslie (deceased), loving mother of David. John (deceased), fondly remembered by daughters-in-law. Stella and Daisy and LONG. Nea (formerly Birtles). ROURKE FUNERALS juiy 19.

1383. late or coogee Canberra Queanbeyan. granacniiaren Jeanne. Michael. rrtenas or tne late ivtviN ntrN (Peter) JACKSON are kindiv invited to attend his funeral service to be held today (Friday), in the crematorium chapel at Pine Grove Memorial Park.

Great Western Highway. Eastern Creek Service to commence at 2 p.m. At the conclusion of service there will be an interment in the Garden of Memories. Please meet at chapel. SYDNEY FUNERALSERVICES.

FDA. NSW AFDA MINCHINBURY 625 8066 PENRITH (047)21 5399 (062)97 1052 A A dear sister of Olga. loved and missed bv her nieces and neohews Matthew. Graham. Robert and Brian, aaed 86 vears.

ano tneir famines. Please watch these columns for tviay she rest in peace. SMALL. The relatives and runerai particulars. For funeral arrangements friends of the late DOUGLAS ALAN SMALL are invited to piease pnone 83 5433.

WILLIAMS. Frederick Daniel. attend his funeral service. Monday next (July 24. 1989).

in the chapel of Palmdale Crematorium. July 20. 1989. at his residence. MACBETH.

Norman Alfred. July watenoo ana formerly. Qf Bal- Palmdale Road. Ourimbah. at 1 1 13.

I3B9. at nospitai. late ot oak Flats, formerly of Youna. dearly main. ndltn Bata ion am NX22252.

dearly beloved husband of Iris, loved Dad of Fred beloved husband of Vera, devoted father of Val. Ev. and Sandra and fond father-in-law and loved and Warren (deceased), fond Please meet at crematorium SIMPLICITY FUNERALS THROUGHOUT AUSTRALIA. (043)65 2333 uncle of his neohews and nieces. grandfather, pa of their families.

LEVY. The relatives and friends of the late Mrs EDNA MAVIS LEVY, of Pagewood. are invited to attend her funeral service, to be held on Tuesday next, at 1 1 30 sadly missed by his many friends. Aged 8U years. In God care Aged 9 years.

Our loss is God's gain. SMITH. The relatives and friends or tne late ALict smith are McKENZIE. Gladys. July 19.

nvited to attend her funeral 1303. late ot vauc use. beloved a in tne cnapei or tne tastern Suburbs Crematorium. Please meet at the crematorium. BOLAND AND SONS FDA.

NSW 512109. 3492251 5198272 service, to be held Monday (Julv 24 1 989) in the South Chanel nf FUNERALS widow of the late Windsor McKenzie. a loved and loving mother ot Duncan and Colin (both Woronora Crematorium, com mencing at 1 2 noon aeceaseq). bneiia and Alison, fond Kiease meet at tne crematorium. motner-in-iaw or jonn and Ronald, dearly loved bv her arandchil- BAKRO.

The relatives and GPT to pay out a record to unitholders Australia's largest listed property trust, General Property Trust (GPT), will distribute a record $37.5 million to unitholders for the quarter to June 30. Mr Peter Smith, chief general manager of Australian Funds Management Ltd, the manager of GPT, said yesterday the distribution was equal to 7.5c a share and lifted the half-year payout to $67.4 million, or 13.5c per unit. The result was an increase of 1 5.4 per cent on the corresponding period last year, and equivalent to a yield of 10.4 per cent per annum, based on a price for GPT of $2.44 a unit. Mr Smith said the distribution yield was significantly above many other direct prime property investments, which only returned between 5 per cent and 6 per cent. GPT's net tangible asset backing rose to $3.17 a unit from $2.84 in the previous corresponding period.

Mr Smith said asset revaluations during the six months under review added about 3c a unit to GPTs asset backing. But this had been offset by the distribution of a capital gain of 1.5c a unit, and a strong response from unit-holders to GPT's distribution reinvestment plan. During the period the trust disposed of the Top Ryde Shopping Square for $42.5 million because it no longer fitted comfortably with GPTs long-term requirements for regional retail shopping centres. AAP dren and great-grandchildren. friends of the late MARTHA Aged 95 years.

BAKRO are kindly invited to METROPOLITAN BURIAL CREMATION SOCIETY. A of LONGWORTH. Requiem Mass Have you ever wondered what all those economic statistics really mean? The 1989 Economic Update explains what they are all about. This extremely successful publication is the most up-to-date economics book available for both students and business people. This book also contains graphs which can be regularly updated from information that appears in The Australian Financial Review on the first Monday of each month.

Economic Update is written by Dr David Clark, Senior Lecturer, School of Economics at the University of NSW and columnist for The Australian Financial Review. Available at Fairfax Bookshops Cnr Broadway Jones St, Sydney 285 George St, Sydney 1 4 Oaks Ave, Dee Why Cnr Church George Sts, Parramatta 22 Bolton St. Newcastle 282 Keira Rd, Wollongong 441 St Kilda Rd, Melbourne Also at Co-Op Bookshops and selected newsagents. MAIL PHONE ORDERS (with money back guarantee) Financial Review Books, PO Box 912 Potts Point NSW 201 1 or Phone (008) 25 1949, or Sydney 356 3473 mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm Pteasa rush ma eoowfiasi of FCONDM If: I nnATF 'HQ 1 4 ROCKDALE. 596066.

attend ner runerai service, to be held in a chaoel of the Eastern Suburbs Crematorium, today (Friday. July 21. 1989). com MONAGHAN, Elizabeth Marga mencing at loam ret. lu 19.

1989. of Pvmb STAUNTON. The relatives and Please meet at tne crematorium. deeply loved wife of Jim. greatly By ANNE LAMPE Most pooled superannuation fund managers have under-performed a passive computer asset-allocation investment strategy over the past three to five years, says the latest performance measurement chart from consulting actuaries Some managers also have added volatility to their records by tinkering with investments.

three-year performance chart (to June 30, 1989) discloses that all but six managers are placed to the right or below the efficient performance measurement region. The managers who have not reached the efficient region produced lower average returns, and those to the right not only may have produced lower returns but have risked wider performance swings than would have occurred if they had left it to the computer to determine strategy. Only BT Australia managed to get above the efficient region in the three-year chart. On five-year performance chart, no managers made it above the efficient region and, on the 10-year chart, only BTA and Westpac were above. The new analysis forms part of an upgraded pooled superannuation funds survey released this week by The new survey is designed to avoid the trap of fund trustees comparing apples with oranges conservative investment managers with the more adventurous.

Instead, it will divide them into four categories reflecting the volatility they have displayed andor asset allocations held. New features to be included in the upgraded monthly survey include the fund's size and its change since the previous month (net of investment returns), the ranking of pooled funds within their volatility category, and a comparison with the calculated benchmark return th return they could expect with a passive investment strategy. It also will include the calculation of the Sharpe Index and a new risk-adjusted performance measure to the Australian market, the Jensen Return, together with its associated Beta risk. These new measures, spokesperson Meredith Brooks says, will give a more meaningful assessment of how each fund has performed against the benchmark for its category. The new survey can be expected to add new fuel to the heated debate within the industry as to the merits of passive versus active funds management.

The benchmark or efficient region represents a set of measurements which indicates what a trustee reasonably can expect from a manager without any real skill on the manager's part. As vice-president Mr John Crocker pointed out: "It is what an idiot computer would do." The efficient region demonstrates a level of return which reasonably could have been expected for a given level of risk. On a quarterly basis, the survey will feature annual management fees and entry and exit fees, the average proportion of each fund's assets invested in each asset sector over the most recent quarter, and the change since the previous quarter. loved motner ot Alison, fond friends ot the late EMILY ETHEL MARY STAUNTON are invited to attend her funeral, to leave St. PhllllD'S Anglican Churrh Mar- WOOD COFFILL FUNERALS.

FDA of sister of Rosemary Sensier of Cremorne. and Tom Dalton RANDWICK. 399 9988 for the repose of the soul of the late RICHARD THOMAS (Tom) LONGWORTH will be celebrated in the church of Our Lady of the Sacred Heart. Avoca Street. Randwick.

this afternoon (Friday), commencing at 1 clock. At the conclusion of prayers after Mass the funeral will leave the church for the Eastern Suburbs Crematorium. WALTER CARTER Pty Ltd. 302 Oxford Street. Woollahra.

(02)389 3499 A of W. (deceased) of Orange. quarie Road. Auburn, this day Agea years. Requiescat in pace.

after service commencing at 2 30 pm. fcr the Anglican Lawn Cemetery. Rookwood. BARRETT. The relatives and ANDREWS Inc Hilton.

AUBURN. 649 785Q MONTGOMERY. Adrian friends of the late MAURICE (Maurie) BARRETT, of Green- acre, are invited to attend his NEWTOWN RYDE iivioniyj. juiy 13. 1383.

at nis residence. Lot 622 Marine Parade. Stuarts Point, beloved husband of Kathleen, lovina father 51 2873 AFDA. 807 2732. runerai.

this day (Friday), to be held in the chaoel of the Rook and father-in-law of George and McKENZIE. A service for the wood Crematorium. service appointed to commence at 10.10 am rviariivn (Kenritni. and Kathleen SVENSSON. The relatives and and Ken Brien (Penrith), loved (add $3.00 postage and packing).

Please meet at tne crematorium friends of the late OSCAR SVENSSON are respectfully pop or nis grandcmidren. Funeral at Analican Churrh at 10am. nvited to attend his funeral Donations in lieu to the Stuarts Point, on Monday (July 24. 1989). commencing at 1 1.30 a and later for cremation at service, to be conducted in the south chapel of the Woronora I I I wood Nursing Home.

14 Albert Street. Revesby. crematorium, on Monday next Port Macguarie Crematorium. late GLADYS MCKENZIE. Of Vaucluse.

will be held in St. Michael Anglican Church. Vaucluse. this Monday (July 24. 1 989) morning, commencing at 10.30 o'clock.

At conclusion of the service a private cremation will be held. WALTER CARTER Pty. Ltd. 302 Oxford Street. Woollahra.

(02) 389 3499. A. of W. (Julv 24. 1 989).

at 9 30 a Kiease meet at tne crematorium. Bernard Lavertv PL. Funeral Directors. Macksville (CICi DIGNIFIED FUNERALS. FDA NSW.

FIVE DOCK. 7131911 68 1555. METROPOLITAN BURIAL CREMATION SOCIETY. FDA of NSW. LAKEMBA.

LEICHHARDT NORING. Rose Adella. July 19. Postcode Phone My cheque tor made payable to John Fairfax Group Pty Ltd (lrKx pcting harxfllng) rs erwdosed or charge my 7592512. 5682111.

1989. ate or Burwooo. oeanv ROCKDALE 59 loved wife of Ralph (deceased), beloved mother of John (deceased). Maureen and Leo and loved mother-in-law of Ross and TASKER. The relatives and I i I I I I (only these credit cards accepted) McLAREN.

The relatives and partcanai Masmrcorai visa) picas. Please allow 21 days for delivery rvlarv dear loved aranamotner BLACK. The relatives and friends of the late RONALD HENRY JAMES TASKER are invited to attend his funeral service, to be held on Monday (July 24, 1989). at the Uniting Church. William Street.

Eaiiwood. and great-grandmother of their children, beloved sister of Grace friends ot the late PERCY BLACK, of Willoughby. are and Evelyn. rrienas or tne late OLGA MAY McLAREN. of Stanmore.

are invited to attend her funeral service to be conducted within a chapel of the Rookwood Gardens Crematorium, today (Friday), commencing at 2.20 p.m. Piease meet at the crematorium nvited to attend his funeral Card No Aged 94 years. Rest in peace. service, to be held in the chapel of commencing at 2.15 p.m. On conclusion of the service, the cortege will proceed to the Woronora Crematorium.

Northern Suburbs Crematorium, this day (Friday), at 1 1 .30 a.m. PARADINE. Arthur Herbert. THE July is. 1 989, oeiovea nusoana or BRUCE MAURER FUNERALS.

325 Pacific Hiahwav. oiaays. aaea years. METROPOLITAN AND CREMATION SI BURWOOD IURIAL QCIETY. 7442178 Private cremation at Narana on ROCKDALE.

5994400. 9S56121. Crows Nest lulv 21. 1989 HURSTVILLE. 57 1554.

A of.