New Guinea-Papuan Gold Sharemarket

Activities of the Companies

BUSINESS on the Sydney Stock Ex change during the month in New Guinea and Papuan goldmining com panies’ shares has been restricted.

Placer and Guinea Gold received most attention, buyers now offering £1 12s. for the latter, with sellers at £1 14s.

Elsewhere in this issue is published the Warden’s report for the Morobe goldfields. This shows the present position on the field and refers to the activities of some of the companies operating there.

Bulolo Gold Dredging Call.

Directors of Bulolo Gold Dredging Limited, have made a call of 50 cents per share on the company’s contribut ing shares.

In an explanatory circular, the direc tors state that in view of the unfore seen adverse movement in exchange rates between Australia and Vancou ver, the company has not received the equivalent of 3 dollars per share cred ited as paid by shareholders on the Sydney register in respect of applica tion, allotment, and first four calls, where 2s. 1d. had been accepted as the equivalent in Australian currency of 50 cents Canadian.

Although the directors are prepared

to waive any liability accrued in re spect of exchange on calls already paid, they have been advised by leading counsel, both in Sydney and in Can ada, that in respect of the four 50-cent calls yet to be made, an equivalent of 2 dollars Canadian currency must be received in respect of all shares, whether on Australian or Vancouver register. It will be therefore appreci ated that in order to pay the present equivalent of 50 cents in Australian currency, calculations could not be based on par rate of exchange of 4.86 dollars, as the rate at date of issue of this notice was 3.73 dollars.

Computing the amount due in respect of the fifth call of 50 cents on this basis, the liability is 2s 8d. per share, but this amount will vary with the rate of exchange ruling at the date on which the actual payment is received.

It is possible, therefore, that some further adjustment will be necessary in respect of the remittance in satis faction of this call, concludes the cir cular.

The following table shows the price on March 11 of shares in New Guinea and Papuan gold companies listed on the Sydney Stock Exchange;

Authorised Shares Issued.

Price. March 11

Company

Capital.

Number.

Amount Paid Up.

Buyer.

Seller Akmana New Guinea, N.L. pd. £ 30,000 140,000 £ 0 S. 1 d. 0 £ 0 S. 1 d. o £ s. d. £ S. d.

Akinana New Guinea, N.L. ctg. 360,000 0 i n 0 0 7

Bulolo, N.L

25.000 150,000 0 2 0 0 0 6 Guinea Gold. N.L 50,000 50,000 1 0 0 1 0 0 1 12 0 1 14 o Mt. Kalndi, N.L . . pd. 50,000 90,000 0 4 0 0 4 0 Mt. Kaindi, N.L

... ctg.

160,000 0 4. 0. 0 .0. 10 Mt. Lawson (N.G.i, N.L • • • • pd. 17,500 18,000 0 2 6 0 2 6 Mt. Lawson (N.G.), N.L. . ... ctg. 103,000 0 2 6 0 •> 3 Mt. Lawson Blks. (N.G.), N L pd. 48,000 80,000 0 4 0 0 4 0 Mt. Lawson Blks. (N.G.) N.L. ctg. 140,000 0 4 0 0 1 0 Mt. Lawson Extended. N.L, ... pd. 48.000 80,000 0 4 0 0 4 0 Mt. Lawson Extended, N L ctg. 140,000 0 4 0 0 1 0 Mt. Sisa, N.L. . 70,000 120.000 0 4 0 0 4 0 Mt. Sisa, N.L. . . 190,000 0 4 0 0 1 9 0 0 5V 2 New G. Development, N.L. pd. 40,000 110,000 0 1 0 0 1 0 New G. Development. N.L.

... ctg.

510.000 0 1 0 0 1 0 0 0 3Va 0 0 41/2 N.u. Gold Deposits, N.L. . . . pd. 20,000 20,000 0 2 « 0 2 6 N.G. Gold Deposits, N.L. . . .. ctg. 100,000 0 2 6 0 1 9 N.G. Gold & Osmlridium, N.L. 10,000 80,000 0 2 6 0 2 6 New Guinea Options. N.L. ... pd. 50,000 51,000 0 2 0 0 2 0 0 0 2 0 0 4 New Guinea Options, N.L. ... ctg. 279,000 0 2 n 0 0 7 0 0 1 >4, North East New G., N.L. . . . . pd. 50,000 90,000 0 4 0 0 4 0 North East New G.. N.L.

. ... ctg.

140,000 0 4 0 0 0 10 V 2 Oba River (Papua). N.L. . pd. 25,000 40,000 0 2 6 0 2 6 Oba River (Papua), N.L. . ctg. 140.000 0 2 6 0 1 0 Oriomo Exploration Ltd. , 12,000 48,000 0 5 0 0 5 0 Papuan Gold Areas, N.L. ... pd. 18,750 40,000 0 2 « 0 2 6 Papuan Gold Areas, N.L. ctg. 100,000 0 2 6 0 0 10 Placer Development Ltd.* $500.00 44,515 $5 00 $5.00 4 2 0 4 4 6 Sloane’s New Guinea. N.L. pd. 25,000 25,000 0 2 0 0 2 0 Sloane’s New Guinea, N L. ctg. 200,000 0 2 0 0 0 8 0 0 3 Solomon Islands Gold, N.L .. pd. 25,000 20,000 0 2 6 0 2 S Solomon Islands Gold. N.L .. ctg. 120,000 0 2 6 0 0 10 — * In addition there are 25.485 contributing 5 dollar shares paid to 3Va dollars, which are not quoted on the Stock Exchange.