conomic Outlook
p. 165 · Read in the full issue
estors in the past year have become inditioned to market buoyancy that was scarcely a ripple of interest Sydney Stock Exchange shares, after usual end-of-flnancial-year lack of ty, rose again to a record level on 12—ordinaries index was 338.50. ile takeovers in themselves do nothing iprove earnings or growth prospects >mpanies outside the deal, they do ;n the investment market by giving ;o optimistic expectations all around, was illustrated during the month by 'avourable reaction on ’Change to a »y chain store giant, Woolworths, of million for Matthews Thompson », largest grocery chain in NSW.
July 18, G. J. Coles and Co., Ltd., worths’ rivals (335 stores against dies” 371) offered £7V 2 million for a lews Thompson takeover. MT have rocery shops. ese new developments moved the spot from General Motors-Holden which. iual each year, was under fire for its million profit and because half of it to USA in dividends, svever, GMH critics are apt to over the benefits derived from the company ding the most popular and suitable car Lustralian conditions: £64 millions to •alian firms supplying goods and :es; employment of 20,000 workers a £22 million payroll; and a very antial slice of its profits to the Gov ent through taxation.
Sydney Sales Prices
June 6, ’60 July 11 Plantations . . 16/3 16/3 s Philp ... 94/- 94/s Philp (SS) . . 64/6 64/- 84/2/6 £83/17/6 p Plantations 35/- 13/industries . . . — 19/3 .shalls 62/- 16/- •i Timber ... 22/6 21/3 ma Rubber . . . 11/3 11/3 aki 30/- 30/rua 13/3 13/boi 10/9 10/oik Is. Whaling . 7/2 7/6 tic Is. Timbers . 7/- 7/tation Holdings . 10/2 9/6 nsland Insurance 96/6 99/aerlands ... 7/4 7/3 . Pac. Insurance 28/- 28/- . New 23/- 23/mships Trading . 55/- 53/3 1. Carpenter Hold. 30/3 30/ar Oil 4/11 4/3
Oil And Mining Shares
Fiji
July 9, ’58 June 6, ’60 July 11 »eror . . b5/9 s5/b4/3 ma ... — b43/6 b39/-
Papua-New
Guinea
>lo . . - b35/b45/b40/- G. Ltd bl/9% b2/6 b2/4 Search . b2/6 b4/10 b4/ll>/ 2 of N.G. bid s6d b4d I. Mines — bl40/bl30/lan Ap.in. b9d b3/5 s3/6 ). opt. . b6V 2 d bl/blOd :er Dev. b86/6 bl07/6 bll5/dy Creek b4d b3d b3d