Economic Outlook

THE World Bank, a United Natr affiliate, is reported to be examii the question of giving substantial finan aid to Australia to allow her to I ahead faster with the development} New Guinea. Negotiations are now uu way in Washington to complete arran ments for the Bank to make a come hensive survey of New Guinea T Territory’s economy.

Australia has never accepted in national financial aid for New Guinea; last year the Visiting UN Mission (u:j Sir Hugh Foot) recommended a finan survey and suggested that Australia lack the necessary resources to devs the Territory at the rapidity visual by the UN. Some Australian Governn officials are now inclined towards view, and aid from the World Bank w* be the logical move.

On the home front, Sydney Stock change trading for 1963 began on a o note, but activity quickened during opening fortnight, with rising share pi —for the first time in seven months; index of “ordinaries” broke the barrier.

However, the market steadied as fig were released indicating that the nun of unemployed in Australia in Decen showed the biggest rise for any noi month in post-war history. The ] of unemployment, at 101,200, was up the previous year, though job-see; school leavers was a significant fa in the rise of 20,000 unemployed December.

Sydney Sales Prices

Dec. 17.

Jan. : 1962 196c Ball Plantations . . 4/- 4/' Burns Philp ... 79/9 79/' Ditto New ... 79/6 78/' Burns Philp (SS) . 46/so/;' Choiseul Plntn. . . 178/- 188/

C.S.R. Co

52/- 57/' Ditto Con. 10 - . . 41/' Dylup Plantations . 5/8 5A Fiji Industries . . . 11/3 HA Hackshall’s ... 15/6 16A Kauri Timber . . . 6/- 4/' Kerema Rubber . . 5/- 5 Koitakl Rubber . . 12/6 12A Lolorua Rubber . . 8/- 8/V Makurapau Plntn. . 2/- 2A Mariboi Rubber . . 5/- 6A Pacific Is. Timbers . 2/6 2A Palgrave 2/3 Vs 2A Plantation Holdings . 2/4 2A Queensland Insurance 132/6 122A Rubberlands ... 4/- 4 A Sandy Creek ... 6d Sangara 9d Sogeri Rubber . . . 5/6 7 A Sthn. Pac. Insurance 25/6 Steamships Trading 12/5 11/N W. R. Carpenter . . 27/6 27/\ Ditto New 13/10 27/\ Watkins Consolidated 3/- 3/\

Oil And Mining Shares

Dec. 4, Dec. 17, Jane 1958 1962 IS

Fiji

Emperor . . b9/b5/9 b"« Loloma . . b30/s53/b5<

Papua-New Guinea, Etc.

Bulolo G.D. b32/b55/b688 N.G.G. Ltd. b2/3 bl/10 bl/\ Oil Search . b9/9 b2/ll b2/(N Ent. of N.G. slid beVsdbSdt Pac. I. Mines — bl/6 bl/*' Ditto Options . — b3d b6dfc Papuan Apin. b4/6 b7/b8/;N Placer Dev. b91/b228/b244 Timor Oil . n.q. bl/4 bl/U