Economic Outloo

Throughout July, with the em financial-year inactivity, Sydney j Exchange’s trading just coasted a By early August, the “ordinaries” ; had reacted to the market’s lifeless by dropping a few points to arouno (a month ago; 309).

Nationally, July saw export re; outrun the imports bill by £16.5 mii a length’s start over last year when, a flood of imports after the liftiir restrictions, there was a £22.5 mr deficit. All of which caused E Minister Menzies to pat himself am ministers on the back at a Party rah August 7 on the way the Governm economic policies were working out.

Islands people can soon expect to a spate of Australian commercial traw (apart from organised Trade Missi as the new export market develop: allowance in the Commonwealth Tax Regulations became effective on Jui for three years. By a specific se (51AC, if it need be quoted), Austn exporters can get a double deductioi taxation purposes on costs of: • Carrying out market research obtaining market information; « Advertising, securing publicity soliciting business; e Supplying free samples or tecb information to persons overseas; • Preparation and submission of ten That is, if the expenditure qui as a normal business deduction, ever will be allowed as £2 if it is inc: under any of the above four hea« to promote export trade. The; stipulates that the total double tax: ing shall not exceed 16/- in the £ Travel fares come under the d allowance scheme (though entertain and accommodation are only £ 1 for but there are limitations on two or relatives travelling overseas at the time (thus cramping husband-anc junketing).

Sydney Sales Prices

July 7. ’61 Aug.

Bali Plantations . . 9/- Id Burns Philp ... 90/- 90C Burns Philp (SS) . . 50/so; Choiseul Plntn. . . . 142/6 16H

C.S.R

£77/10/- £68: Dylup Plantations . 7/6 7; Fiji Industries . . . 14/- 13: Hackshall’s ... 12/9 12 Kauri Timber . . . 15/- 141 Kerema Rubber . . . 6/9 6 ; Koitaki Rubber . . . 17/- IS Lolorua 8/3 83 Makurapau Plntn. . 3/3 3£ Mariboi Rubber . . . 7/9 T Norfolk Is. Whaling . 4/3 23 Pacific Is. Timbers . 5/3 e?

Palgrave 3/8 4 Plantation Holdings . 4/- 3; Queensland Insurance 92/- 963 Rubberlands ... 6/e Sangara 3/- 23 Sthn. Pac. Insurance 25/- 273 Steamships Trading . 42/- 401 W. R. Carpenter Hold. 33/3 301 Watkins Consolidated 6/- 63 Timor Oil 10/- T

Oil And Mining Shares

July B. ’58 July 7. ’61 Aug.

Emperor . . b5/W

b2/6 b3,!

Loloma . . — S42/6 s44 Bulolo . . . b35/b50/b5f N.G.G. Ltd. bl/9Va bl/9 bl/, Oil Search . b2/6 b2/6 b2/ Oriomo Oil . — bid b2o Ent. of N.Q. b7d s3V 2 d b2 ] Pac. I. Mines — b94/b8": Papuan Apln. b9d b2/ll b3/ Placer Dev. b86/6 bl60/bl8