Economic Outlook

JUST when it looked as though Syi Stock Exchange was at last sho a return to confidence, Presi Kennedy’s blunt warning to Russia October 23 and the US Navy bloc! of Cuba took the wind out of the mar! sails.

Index of ordinary shares the pra day reached 295.47 after a slow, laboi climb, and persistent rises in share p: and relatively large turnovers indie the upward trend might continue, eve ploddingly, into the over-300 mark. 1 the Cuba crisis; and the index dro] sharply to 290.12 the following day. market now apparently will reflect pattern of international events during next month or so—by late Oct., as ten eased, share prices began to recover.

On the national front, most Austral welcomed Prime Minister Men announcement in mid-October that Federal Government would appoim committee to enquire into the Comr wealth’s economy.

Terms of reference will incl Population trends; basic physical sources: overseas investment: growtt industry; development of exports; and effects of tariffs and other forms of tection. Mr. Menzies said the Gov ment hoped the Committee would c up “a chart of Australia’s ecom potential to show the extent, capabil and limitations of Australia’s resource

Sydney Sales Prices

Oil And Mining Shares

Papua-New Guinea, Etc.

Sept. 25 Oct.

Ball Plantations . . 3/9 4/- Burns Philp ... 95/3 95/^ Burns Philp (SS) . 48/- 47/- Cholseul Plntn. . . 200/- 200/-

C.S.R. Oo

48/6 54/- Dylup Plantations . 5/2 y 2 5/6 Fiji Industries . . . 1S/6 12/- Hackshall’s ... 16/- 14/a Kauri Timber . . . 7/3 6/3 Kerema Rubber . . 5/- 5 KoitakI Rubber . , 11/3 12/4 Lolorua Rubber . . 7/9 8 - Makurapau Plntn. . 1/9 2/11 Mariboi Rubber . . 4/11 y 2 5/2 Norfolk Is. Whaling . 9d E Pacific Is. Timbers . 2/6 2/6 Palgrave 2/6 2/4 Plantation Holdings . 2/7 2/1 Queensland Insurance 117/- 115/- Rubberlands ... 4/- 4/6 Sandy Creek ... 7d S Sangara lid 6 Sogeri Rubber . . . 6/3 5/e Sthn. Pac. Insurance 21/- 23/2 Steamships Trading 11/9 11 /2 W. R. Carpenter Hold 30/3 31/2 Watkins Consolidated 3/9 31

Dec. 4, ’58 Sept. 25 Oct.

Fiji

Emperor . . b9/- 86/b5/.

Loloma , . b30/- b50/b51.

Bulolo G.D. b32/s56/s54, : N.G.G. Ltd. b2/3 b2/bl/ v Oil Search . b9/9 b2/ll b2/v Ent. of N.G. slid b3V 2 d b4di Pac. I. Mines — bl/9 bl/2 Papuan Apin. b4/6 b3/10 b3/ v Placer Dev. b91/bl96/bl9t Timor Oil . n.q. bl/5 bl/ 1 '