Economic Outlook
p. 160 · Read in the full issue
TRADING on Sydney Stock Exchangt during the month has shown a de cisive upswing, with heavy buying forcing prices of leading shares higher ’Change opened on April 14 with “Ordinaries” index at 299.68, the highesl this year. Exchanges in London and New York too have experienced buoyant trad ing in April, without being able to pin point any single factor as cause of the market’s changed mood.
A step in the Federal Government’s de termination to help increase overseas earn ings was a bill introduced in Parliament on April 14 to improve credit facilities for Australian exporters. It allows Exporl Payments Insurance Corporation to ex pand the present export payments in surance over a wider range of trans actions. EPIC is an independent, statu tory body financed by the Government; one of its main functions is to reimburse exporters if buyers in other countries cannot meet their commitments. The new measure lends important aid to exporters by giving them a guarantee of payment.
Sydney Sales Prices
Mar. 7, ’61 Apr. 12, ’61 Bali Plantations . . 13/- 10/6 Burns Philp ... 91/9 93/3 Burns Philp (SS) . . 55/- 52/-
C.S.R £79/10/-
£80/10/- Dylup Plantations . 10/5 8/3 Fiji Industries . . . 15/6 12/6 13/6 16/3 6/9 15/6 Hackshall's ...
Kauri Timber . . .
Kerema Rubber . . . 12/6 17/9 6/8 Koltakt 18/6 Lolorua 9/6 8/9 Makurapau ... 4/4 4/1 Maribol 9/6 7/6 Norfolk Is. Whaling . 4/11 4/6 Ditto Notes (5/-) .. 5/5 5/6 Pacific Is. Timbers . 7/- 6/- Plantation Holdings . 4/8 3/9 Queensland Insurance 88/- 83/6 Rubberlands ... 7/- 6/3 Sthn. Pac. Insurance 24/- 24/- Steamships Trading . 47/6 47/6 W. R. Carpenter Hold. 31/6 31/3 Watkins Consolidated 5/- 5/- Timor Oil 5/3 4/-
Oil And Mining Shares
Fiji
July 8. ’58 Mar. 7, ’61 Apr. 12, Emperor . . b5/B b3/5 b3/5 Loloma ... — s43/- S42/9
Papua-New
Guinea
Bulolo . . . b35/b51/b55/- N.G.G. Ltd. bl/9% bl/9 bl/9 Oil Search . b2/6 b2/4 b2/2 Ent. of N.O. h7d b2 Va d s2 Vs d Pac. I. Mines — bll5/bll5/- Papuan Apln. bed b2/b2/10 do. opt. . b6Vfed b3d b3d Placer Dev b86/6 bl47/6 bl61/-j Sandy Creek b4d bSMzd b4d