Economic Outlook
p. 161 · Read in the full issue
kURING the month, the share market ’ edged up to a new peak on trading, spread over a near-record range of cks —index of ordinary shares touched .11 on August 8.
Pith a new Federal budget due this nth, it would not have been surprising note a levelling off of the market, in icipation of the Government applying ther monetary restraint (some credit trictions were announced early in ;ust). The Government’s three-point icy to check inflation, at the beginning 1960, has not been noticeably effective, vever, near full employment, good re trade results, undiminished car regis ;ions, and. most significant, upward :istics for the building and construc tal industries have all contributed to uoyant economy. ilands businessmen as well as Australian orters will welcome the August an ncement that an Australia-NZ con ative committee on trade is to be estab ed, for it means NZ will adjust her hod of valuing goods for customs duty poses from next year.
Z, on parity with Sterling herself, has ays regarded all £’s as equal, so that 100 worth of imports from Australia e never been reduced to their valent of £ Stg.Bo and this has meant lability for duty on the difference, i, for instance, was under similar dicaps, too.) Exporters claimed that lost them a lot of trans-Tasman ness to competitors in other countries.
Sydney Sales Prices
July 11/60 Aug. 8 Plantations . . 16/3 14/6 ns Philp ... 94/- 96/6 ns Philp (SS) . . 64/- 64/- £83/17/6 £83 ip Plantations . 13/- 12/6 Industries . . . 19/3 18/cshalls 16/- 16/ri Timber ... 21/3 22/- ;ma Rubber . . . 11/3 11/aki 30/- 30/rua 13/- 12/iboi 10/- 10/9 folk Is. Whaling . 7/6 7/7 fic Is. Timbers . 7/- 8/tation Holdings . 9/6 9/6 snsland Insurance 99/- 97/berlands ... 7/3 7/6 i. Pac. Insurance 28/- 25/9 i. New . . . mships Trading . 23/- 53/3 23/- 55/3 t. Carpenter Hold. 30/- 30/9 or Oil ... . 4/3 4/6
Oil And Mining Shares
Fiji
July 9 '58 July 11, ’60 Aug. 8 'eror . . b5/9 b4/3 b3/9 ma... b39/- S43/9
Papua-New
Guinea
•lo . . . b35/b40/b41/- G. Ltd. bl/9y a b2/4 b2/3 Search . b2/6 b4/ny 2 b5/of N.G. b7d b4d b4d I. Mines . bl30/sl20/lan Apin. b9d s3/6 b3/10 '• opt- - bBVad blOd b8y a d er Dev. b86/6 3y Creek b4d bll5/b3d bll5/b3d