Economic Outloo[?]
p. 152 · Read in the full issue
Anticipating that Prime mi Menzies, after his return to ] by a precariously slim margin in Di ber Federal elections, would set meeting Australia’s current difflc with forthright action, Sydney i Market during January and early Feb showed a buoyant trend.
By some sweeping measures anno in Canberra that day, Mr. Menzies the national economy a shot in the The programme Included: • Cut of 5 per cent, in personal • Sales tax on cars and station wa reduced from 30 per cent, to 22VS cent, (giving savings of £4O-£7 popular-make cars); sales tax on mercial vehicles down from 16-2/2 cent, to 12Vb per cent. • Rises in unemployment benefits, • States to receive an extra £lO n grant for works and an additions million for housing. Local goven borrowing will also be increased. • A new industrial investment i ance of 20 per cent, (additional to n depreciation allowance) on manufact new plant and equipment.
Commercial and industrial 1c throughout Australia generally wel« the new measures, which may or not achieve their basic purposes relief of unemployment and the rei tion of public confidence and spe power.
Sydney Sales Prices
Jan. 5, ’62 Feb.
Bali Plantations . . 4/- 4 Burns Philp . . . . 92/6 93 Burns Philp (SS) . . 48/3 49 Choiseul Plntn. . , . 180/- 180
C.S.R. Co
£59/10/- £60 Dylup Plantations . 6/8 6 Fiji Industries , . . 15/9 15 Hackshall’s . . . . 13/10 14 Kauri Timber . . . . 11/- 13 Kerema Rubber . . . 6/- 6 Koitaki Rubber . . . 15/- 17 Lolorua Rubber . . . 8/8 8 Makurapau Plntn. . 2/11 2 Mariboi Rubber . . , 8/- 8 Norfolk Is. Whaling . 2/6 2 ■1 Pacific Is. Timbers . 4/6 i Palgrave 4/3 fl Plantation Holdings . 3/9 A Queensland Insurance 112/6 112 Rubberlands . . . . 3/6 5 Sangara 2/9 2 Sogeri Rubber . . . 8/- 8 Sthn. Pac. Insurance 38/- 41 Steamships Trading . 40/- 40 W. R. Carpenter Hold. 30/3 32 Watkins Consolidated 5/3 5.
Timor Oil 4/3 4y
Oil And Mining Shares
Fiji
Dec. 4, ’58 Jan. 5, ’62 Feb. ( Emperor , . b9/s6/b Loloma . , b30/b42/b
Papua-New Guinea
Bulolo O.D. b32/b70/b N.G.G. Ltd. b2/3 bl/10 b Oil Search . b9/9 b2/4 b Orlomo Exp. — b3d b Ent. of N.G. slid s4d b Pac. I. Mines — bl05/- Si Papuan Apin. b4/6 b4/10 Si Placer Dev. b91/b225/b