Economic Outlook

Fluctuation of the “ordinau index on Sydney Stock Exchange e confined within a narrow margin of a point or two daily throughout the m0nth—299.67 on September 11, 299.5'i October 13.

The market has been listless, buyers mainly standoffish. Annual rep of firms listed on ’Change, many closing lower profits as the result ofi late 1960 economic “squeeze”, did littf encourage investment.

Some activity was injected into market on October 11, when Broken j South Ltd. and Consolidated Zinc Pty. two of Australia’s largest mining grc announced £5Vs million plans to re old copper mines at Cobar, far west M and, at the same time, Broken Hill revealed a takeover offer of £I7V2 mu by Ben Union Corp., registered in bourne with an issued capital of whose board include several Chinese nessmen from Hongkong. The offer' later withdrawn.

Two well known Sydney pastoral ag firms, Dalgety and Co. Ltd. and the Zealand Loan and Mercantile Agency Ltd., are merging in a £6 million to be ratified by shareholders in De ber. The new concern, known as Dae and New Zealand Loan Ltd., will be biggest pastoral company in the worl Dalgety’s are familiar to most Isi people—for many years they have agents in Sydney for the Fiji Govenu During the past 18 months, however, Fiji began calling for tenders, in l for much of its overseas purctl Dalgety’s have been concerned nr with personnel recruitment for the Co The combined firm will continue asa representatives.

Sydney Sales Prices

Sept. 5, '61 Oct.

Ball Plantations . . 10/3 9A Burns Philp ... 92/6 9U Burns Philp 1SS1 . . 50/6 49/, Choiseul Plntn. . . . 160/bl45,i

C.S.R

£60/5/- £ 63,, Dvlup Plantations . 8/6 7/ Fiji Industries . . . 15/- 15/i Hackshall’s ... 13/- 14/: Kauri Timber ... 13/9 12,!

Kerema Rubber . . . 6/- 6J Koitaki Rubber . . . 15/6 16,!

Lolorua 8/6 8 • Makurapau Plntn. 3/- 2S Mariboi Rubber . . . 9/- 8f Norfolk Is. Whaling . 2/8 2S Pacific Is. Timbers . 5/6 5c Palgrave 3/10 41 Plantation Holdings . 3/9 31 Queensland Insurance 98/6 1200 Rubberlands ... 6/2 55 Sangara 2/7 2S Sogeri Rubber . . . 8/3 « Sthn. Pac. Insurance 30/- 293 Steamships Trading . 43/- 411 W. R. Carpenter Hold. 30/6 335 Watkins Consolidated 6/3 53 Timor Oil 6/- 5c

Oil And Mining Shares

July 9, ’58 Sept. 5, ’61 Octj

Emperor . . b5/9

b2/6 b2< Loloma . . — s41/b 4 (

Bulolo . . • b35/-

s55/bit N.G.G. Ltd. bl/flVb bl/9 bit Oil Search . b2/6 b2/0 % blc Oriomo Oil . — blVad bit Ent. of N.Q. b7d b2V2d s4; Pac. I. Mines — b96/b!c Papuan Apin. b9d b3/l b!c Placer Dev. b86/6 bl73/be