Economic Outlook
p. 152 · Read in the full issue
WHEN Sydney’s shiny Stock Exchs Building closed its doors December 24 to end 1962’s busir brokers and investors breathed a of relief that could be heard air clear across the Pacific. December been one of the most hectic months record.
The Associated Group (which eludes Papuan Apinaipi Petroleum L struck oil early in December in Sue bank No. 1 well, in Queensland’s Si Basin, 100 miles northwest of Moi field. This was the third Austra oil strike in successive Decembers, brokers had some harassed weeks frenzied trading following the annoui ment of a 600-barrels-a-day flow.
P ur ing the month, four compa: (Stanhill Consolidated, Stanhill Deve' ment Finance, Kauri Timber Co Vesta Battery Co.) reported losses trading totalling £4 million, jolting vestors who were just recovering f] news of a default by Reid Mui Acceptance on debenture interest £600,000. Then, the final straw largest loss ever announced by an A trahan company. Factors Ltd., m ber of the Korman group (Stanl Chevron, etc.) incurred net loss of f million for the year ended July 31 Little wonder that share indices at ?qri S Q 6 J!f 5 er ® A° wer than Deceml 1961, and that the confidence of vestors was ruffled.
Sydney Sales Prices
Nov. 23 Dec. 1 Ball Plantations . 4/- 4/.
Burns Philp . . 78/- 79/c Ditto New . . . 78/- 79/( Burns Philp (SS) . 47/- 46/- Choiseul Plntn. 190/- 178/-
C.S.R. Co. . .
50 / 6 52 /-| Dylup Plantations . 5/1 5/8 Fiji Industries . . . 11/6 11/3 Hackshall’s . . . 15/3 15/6 Kauri Timber . . . 8/- 6 - Kerema Rubber . . 4/9 5/4 Koitaki Rubber . 12/6 12/6 Lolorua Rubber . . 7/9 8/- Makurapau Plntn. . 2/3 2/- Mariboi Rubber 5/1 5/4 4 Norfolk Is. Whaling . 8d Pacific Is. Timbers . 2/6 2/6 Palgrave 2/9 2/3 Plantation Holdings . 2/6 2/4 Queensland Insurance 120/ - 132/6 Rubberlands ... 4/- 4/J Sandy Creek ... 8d 6 Sangara lid 9 Sogeri Rubber . . . 5/3 5/6 Sthn. Pac. Insurance 25/6 25/6 Steamships Trading 11/3 12/5 W. R. Carpenter . . 26/6 27/6 Ditto Rights ... 13 5 13/H Watkins Consolidated 3/5 3/4
Oil And Mining Shares
Dec. 4, ’58 Nov. 23,’ 62 Dec. 1
Fiji
Emperor . . b9/b5/8 b5/91 Loloma . . b30/s53/6 S53/-J
Papua-New Guinea,
Etc.
Bulolo G.D. b32/b51/b55/J N.G.G. Ltd. b2/3 b2/bl/10 Oil Search . b9/9 b3/l b2/ll Ent. of N.G. slid b5d b6V Pac. I. Mines — bl/6 bl/6 i Ditto Options . — b3d b3d Papuan Apin. b4/6 b3/6 b7/-| Placer Dev. b91/b206/ b228/ Timor Oil . n.q. si '4 bl 4 1