Economic Outloo[?]

OIL has dominated Sydney I Exchange market throughout the month, climaxed by two strike Queensland’s Moonie No. 2 well, o i the upper sands and again in a ] level similar to No. 1 well’s flo December.

The 5/- shares of Australian Oil Gas, with a 20 per cent, interest it field (which Is being drilled by th perienced American Union-Kern 1 panics) climbed to £5/15/-. Shai the Australian Associated Oil I drilling at Westgrove, 170 miles i west of Moonie, shot up too: Pi Apinaipi (with an interlocking inten AAO) touched 7/6, highest ever.

The recently-floated Planet Oil which CSR Company has a large 1 went on ’Change for the first tin March 6; its 1/- paid shares sooi 6/3, establishing a record turnover! single day’s trading.

Meanwhile, the general state ol nation’s economy appears encouri with an inflow of overseas capital 1 and all the signs of a welcome ov decrease in unemployment.

Politically, the Menzies Liberal Gc ment has been having some ai moments, though it survived by one Opposition leader Calwell’s censure n demanding its resignation.

In the NSW State arena, Lai Heffron has had a comfortable vi with an increased margin—a result caused many Liberal-CP diehard shrug and contemplate the likelitioi Australia’s No. 1 State being i Labour Party domination for many a year yet. In South Australia, the L Playford Government lost the j elections to Labour 18 seats to 19, b March 9 was struggling to retain with the aid of two Independents I

Sydney Sales Prices

Oil And Mining Shares

Fiji

Bali Plantations .

Feb. 6, ’62 Mar. 4/- 4 Burns Phllp ... 93/6 10( Burns Philp (SS) . 49/- 41 Choiseul Plntn. . . . 180/bl72

C.S.R. Co

£60/10/- £51 Dylup Plantations . 6/9 f Fiji Industries . . . 15/3 11 Hackshall’s ... 14/9 IS Kauri Timber . . 13/- 12 Kerema Rubber . . . 6/3 e Koitaki Rubber . . . 17/- 14 Lolorua Rubber . . . 8/- £ Makurapau Plntn. 2/3 bS Mariboi Rubber . . . 8/3 hi Norfolk Is. Whaling . 2/1 2 Pacific Is. Timbers . 4/6 4 Palgrave 4/6 4 Plantation Holdings . 2/6 2 Queensland Insurance 112/6 125 Rubberlands ... 5/6 5 Sangara 2/11 2 Sogerl Rubber . . . 8/6 Sthn. Pac. Insurance 41/- 40 Steamships Trading . 40/6 39 W. R. Carpenter Hold. 32/- 34 Watkins Consolidated 5/6 6 Timor Oil 4/6 4

Dec. 4, '58 Feb. 6, ’62 Mar.

Emperor . . b9/b6/9 s7/l Loloma . . b30/b46/3 b51/

Papua-New

Guinea

Bulolo G.D. b32/b69/6 b70/ N.G.G. Ltd. b2/3 bl/9 bl/2 Oil Search . b9/9 b3/b3/i Oriomo Exp. — b3d b3d Ent. of N.G. slid b3d* b7d Pac. I. Mines — s90/b88y Papuan Apin. b4/6 S5/3 b6/l Placer Dev. b91/b224/b227