The Stock Marker
p. 168 · Read in the full issue
After an uneasy month share prices Australian Stock Exchanges have in j first week of June taken a decided s’< upwards. In this week the index ofi ordinary shares on the Sydney ms advanced the best part of four poc which was no small achievement aften falls of the previous month.
Reasons are perhaps to be found inr firmer closing tone of the wool mss as the selling season draws to its a the strength on Wall Street—now ate year’s best point—and the approach what is expected to be a fairly genes Australian Federal election-year Budge Another factor was that the Feo Loan Council has just completed a sit. at which it provided an extra £2O mii in revenue for the States for the cor year. Premiers are complaining that is not enough but the allocation) generally regarded as a useful prop employment, which has shown res signs of recovery.
On the money market, the demand money by the hire purchase industry tinues, apparently without signs of a ; One company will double its paidl capital to about £iy 2 million in months. Another new one—Southern vances—is about to be floated onto ( market.
Sydney Sale Prices
May 7 Juni
B.H.P
— 45 a Burns Phllp ... 66/6 54,, Burns Philp (SS) . . 45/3 45a
C.S.R
£40 £4 Dylup Plantations . 11/6 12a!
Hackshalls 43/- 42,: Kauri Timbers . . . 21/- 19/ Kerema Rubber . . 10/2 10/ Koitaki 11/6 10a 1 Lolorua 6/3 6/J Mariboi 5/6 5,i Norfolk Is. Whaling 4/6 5a< Queensland Insurance 70/- 72,1 Rubberlands ... 5/3 5,i Sthn. Pac. Insurance 55/- 55,i Steamships Trading . 45/- 44/ W. R. Carpenter Hold. 11/6 11,.
Timor Oil 3/7 2/! * Shares ex bonus issue. iT'rf t
Oil And Mining Shares
Fiji
Aug., '39 May 7. ’58 June s Emperor . . b9/ll s6/b55 Loloma . . . s25/6 b28/llifel
Papua-New
Guinea
Bulolo . . . bl24/b33/b3E N.G.G. Ltd. bl/10 bl/10Vj bit Oil Search b3/ll b2/b2S Ent. of N.G. — b3d b69 Papuan Apin b4/ll blld b83 do. opt. . — b3d b3E Placer Dev. b68/6 b91/b9S Sandy Creek bl/5 b3d b3E