Economic Outlooi

A new market record for Sydney; Exchange was established at the ei May, when the February peak inda ordinaries was passed and the gain! held in early June. By June 7, it Wi to 336.65 (February’s best touched 33 The rise has been steady, compared the runaway rush earlier in the I more along the lines of a carefulla sidered move based on the long-terj pectations of the Australian market!

Holding of a National Export Convj in Canberra in May focused attentij Australia’s great need—export da ment. Federal Trade Minister McEwl the need for more exports at £250 n within five years: a 25 per cent, expa Just which products (other than wd course) to concentrate on, to j countries to look for an export booa how to keep the level of Australian down are subjects now giving the e: king-size headaches.

Although the current year is ex] to be one of the best for exporta the war (probably over £l3O million] than 1958-59), imports are flowing ii at an accelerated rate, since the liftj most restrictions last February.

It seems, therefore, that 1959-6ffl balance will be little better than last Without a lift in exports, the balaj Australia’s overseas funds could sod appear—with the certain reimpositi tight import restrictions and born abroad.

Sydney Sales Prices J

May 9, ’60 Jui Bali Plantations . . 16/9 16 Burns Phllp ... 97/6 94 Burns Phllp (SS) . . 64/6 64 £81/17/6 £84 Dylup Plantations . 36/- 35 Hackshalls 55/6 62 Kauri Timber ... 21/9 22 Kerema Rubber . . . 11/3 11 Koitakl 28/9 30 Lolorua 13/1 13 Maribol 10/6 10 Norfolk Is. Whaling 7/4 7 Plantation Holdings . 9/9 10 Queensland Insurance 96/- 96 Rubberlands ... 7/5 7 Sthn. Pac. Insurance 28/- 26 do. New 25/- 23 Steamships Trading . 58/- 55 W. R. Carpenter Hold. 27/6 30 Timor Oil 4/2 4

Oil And Mining Shares

Fiji

July 9. '58 May 9, ’60 Jui Emperor . b5/9 b5/6 s5 Loloma . . — b42/ ■ b4

Papua-New Guinea

Bulolo . . . b35/b38/ta- N.O.O. Ltd. bl/9Va b2/7 1 /a bs Oil Search b2/6 b4/7 fa- Ent. of N.O. b7d sSMsd st Pac. I. Mines — b200/b: do. rights . — — b Papuan Apln b9d b3/8 b^ do. opt, . beVad bl/bl Placer Dev. b86/6 b!05/bl Sandy Creek b4d b2d b: