Economic Outlook
p. 164 · Read in the full issue
Whether the share price index can be regarded as a fool-proof indication of the actual health of the nation is open to doubt. But, like a lot of other things— the cost of living, copra prices, the basic w’age included—it seems to be on the up and-up. x , In the last two weeks in October, it staggered a little, after reaching new heights, and then—as they say on the Stock Exchange—rallied a little. It ended the first week in November with the index for all Ordinaries at 304.2 —almost six points higher than we reported a month ago, when that was a record.
It is interesting to note that at the beginning of January this year the index figure for all Ordinaries stood at around 226. According to that, Australia should be a great deal more prosperous in Novem ber than it was in January. It could be so, at that. There seems to be no limit to the amount of investment money around these days—partly due, of course, to the influx of capital from overseas.
Some interesting figures were released by Commonwealth Statistician Carver dur ing the month. It seems that Australia’s retail spending in 1958-59 rose by £739 million, from what it was in 1952-53. Cost of living and influx of migrants should have raised it by about 33 per cent, which means that we are spending 10 per cent, more in real money than we were six years ago. If you can believe figures, then we are all 10 per cent, better off than we were then. (It might also mean that we are 10 per cent, more in debt than we were then.) . , .
Mr. Carver’s figures don t include motor
vehicles. Figures for these were) separately, and it seems we are now» ing 73 per cent, more on new am vehicles than we were in 1952-53. f
Sydney Sales Prices
Oct. 6 Nol Burns Philp ... 108/- 1CJ Burns Philp (SS) . . 65/-
C.S.R
£68 £C Dylup Plantations 27/- ■ Hackshalls 57/6 f Kauri Timber ... 20/6 2 Kerema Rubber . . . »/- Koltakl 23/3 2 Lolorua 12/- Mariboi 9/- Norfolk Is. Whaling 4/9 Queensland Insurance 92/- 11 Rubberlands ... 6/3 Sthn. Pac. Insurance 19/- i Steamships Trading . 74/- W. R. Carpenter Hold. 27/1% ' Timor Oil 6/3
Oil And Mining Shares
Fiji
July 9, ’58 Oct. 6.’59 Emperor . b5/9 s7/9 Loloma . . — s45/-
Papua-New
Guinea
Bulolo . . . b35/b35/- J N.G.O. Ltd. bl/fl 1 /* b2/l Oil Search b2/6 b6/5 Ent. of N.O. b7d b3d Papuan Apin b9d b3/5 do. opt. . b6V' 2 d bl/3 Placer Dev. b86/6 b98/-- Sandy Creek b4d n.q.