Economic Outloo[?]
p. 164 · Read in the full issue
Inflation—and the Commonwealth i ernment’s measures to deal with it been the topic of the month.
Prime Minister Menzies in an ecoi review, in his usual polished manner, details of counter-measures being tal abolition of import licensing, govern intervention in the Federal basic-wage endeavours to balance the coming bu and further calling up of free liquid n in the hands of private trading bank The fact is, of course, that at moment there are inflationary pressur the Australian economy but no rea flation crisis—yet. The Government try to prevent “creeping” inflation becoming “galloping” inflation; if methods fail, it can be taken as ce that increased taxation will be the weapon used.
In some quarters it is suggested tha Labour Party will fight the next ele on an inflation issue. Mr. Arthur Cl was elected new leader on March 7 placing Dr. H. V. Evatt, appointed Justice of NSW; surprisingly Mr. ] Ward, Territories Minister of a decade was defeated for deputy leadershi] Sydney barrister E. G. Whitlam.
Sydney Sales Prices
Feb.4, ’60 Mai Burns Phllp ... 100/- 96 Burns Phllp (SS) . . 66/9 66
C.S.R
£81/10/- £7 Dylup Plantations 29/6 35, Hackshalls 55/3 56, Kauri Timber ... 22/- 21 Kerema Rubber . . . 10/- 10, Koltakl 30/- 28, Lolorua 13/- 11, Marlbol 10/- 9 Norfolk Is. Whaling 7/- 6 Queensland Insurance 94/3 95 Rubberlands ... 8/- 7 Sthn. Pac. Insurance 51/- 47 Steamships Trading . 56/6 55, W. R. Carpenter Hold. 28/- 27 Timor Oil 4/7 4,
Oil And Mining Shares
Fiji
July 9, '58 Feb. 4, ’60 V.
Emperor . b5/9 s6/6 Loloma . . — b40/-
Papua-New Guinea
Bulolo . . . b35/b37/b:i N.O.O. Ltd. bl/9Mi b2/6 bl Oil Search b2/6 b5/9 b‘ Ent. of N.G. b7d b5d b( Papuan Apln b9d b3/8V a b 4 do. opt. . b6Vid bl/6 bl Placer Dev. b86/6 blOl/b!
Sandy Creek p*q b2d. bf