Economic Outlook

nPHERE has been no spectacular tradi A on the Australian stock exchange di ing the month, although in the last w< in May there was some renewed activ in oil shares that had been quiet sii the end of April.

The price index on May 22 stood! 308.38 for ordinaries —which also shoy little change in recent weeks, althou seven points higher than at the beginnj of this year.

The post-election measures to the Australian economy have not b< spectacular, either—which, according the Australian Treasurer, suits the G< ernment. He said on May 23 that!

Government was aiming at steadiness economy, having learned much from th: booms and their attendant problems. 1 Treasurer claimed that Australia had! tered a period of extraordinary price a cost stability which would allow 1 economy to expand steadily while curbi inflation.

Prime Minister Menzies left for Lond on May 24 to have talks with 1 Macmillan and other British leaders!

Britain’s proposed entry into the comni market. Two opposition members of I Federal Parliament are also visiting B tain for the same purpose. It is ct sidered vital on both sides of the Hoi that Australia should neglect nothing tt will help to safeguard vital trading inti ests, although Mr. Menzies, before! departure, said that he would be me concerned in London with the politii angles of Britain joining the EEC. I believes that it could weaken the ties!

Commonwealth.

Sydney Sales Prices

Apr. 27, *62 May 24, Bali Plantations . 4/3 4/lj Bums Phllp ... 101/- 111/1 Burns Phllp (SS) . . 51/- 49/9 Choiseul Plntn. . . . b!77/6 210/1 C.S.R. Co £57/-/- s £56/3 Dylup Plantations 6/9 5/9] Fiji Industries . . . 16/- 16/94 Hackshall’s ... 16/sl7 / Kauri Timber . . . 10/3 9/5 Kerema Rubber . . . 5/9 5/1 Koitaki Rubber . . . 12/3 13/3 Lolorua Rubber . . . 8/- 7/61 Makurapau Plntn. . 2/3 2 9 Maribol Rubber . . . 5/6 5/2 i Norfolk Is. Whaling . 2/1 2/3] Pacific Is. Timbers . 3/6 3/8] Palgrave 4/5 3/4j Plantation Holdings . 2/4 2/81 Queensland Insurance 115/- 137 6 Rubberlands ... 4/11 5/1 Sangara 3/6 3/61 Sogeri Rubber . . . 7/6 7/31 Sthn. Pac. Insurance 38/3 38/1 Steamships Trading . 51/- 51/-1 W. R. Carpenter Hold. 33/10 y 2 35/-1 Watkins Consolidated 4/3 4/31

Oil And Mining Shares

Dec. 4, ’58 Apr. 27, ’62 May 24

Fiji

Emperor . . b9/b5/b51 Loloma . . b30/b52/b49j

Papua-New

Guinea

Bulolo Q.D. b32/b71/- *4 N.G.G. Ltd. b2/3 bl/9 bl| Oil Search . b9/9 b3/2 63/| Ent. of N.G. slid b2d b3l4 Pac. I. Mines — b2/2* b2/l Papuan Apin. b4/6 b5/2 b5/| Placer Dev. b91/b226/- 223/ Timor Oil . . n.q. 3/- 2/71 • £5 shares now divided into 2/6 unil