Melanesia Co.

... ——— Progress of Transfer to B.P. Interests ... ———

Negotiations for the acquisition by Burns, Philp interests of the properties of the Melanesia Co., and of those owned by Messrs. Jolley, McAnderson and Griffith, which are associated with the Melanesia Co., are making steady progress.

Another small company, with a nominal capital of £10,000, was registered during the month by Burns, Philp directors, to take over the Rondab Plantation properties.

It is expected that the next step in this slow progress will be that the Melanesia Co., in London, will be placed in liquidation and that authority to take certain steps will be sent from London to the Melanesia Company’s representatives in Melbourne. Following upon that, it is probable that the various documents covering the transfer of ownership will be sent to Rabaul for registration and that the Melanesia Co., which was originally registered in New Guinea, will thereupon be liquidated. Probably, a good many more months will elapse before the Melanesia properties are completely transferred to the new ownership. Mean while, they are being conducted under temporary arrangements, for and on behalf of the newly-registered companies. ... ===