Vigorous Papuan

Company

The Steamships Trading Co. Ltd which has secured a renewal of the Papuan coastal mail service contract is a corporation registered in Port Moresby and directed by the energetic Captain A. S. Fitch.

Its nominal capital is £100,000, its subscribed capital i s £49,000, and the fair value of its assets is not less than £80,000. It owns four small ships— the steamer Papuan Chief, the Nusa and H. & S. (Diesel-engined), and the Veimauri (semi-Diesel-engined). The Company also owns large stores in Port Moresby and numerous trading stations along the coast. A large pro portion of its shares are held in Aus tralia. It has twentyone permanent white employees.

This is the sort of enterprise that should be officially encouraged in every possible way. so that it may assist in the development of the Terri tory, in which it is operating.

Unfortunately, in Papua, the con trary seems to have been the case.

The Administration trades and runs coastal vessels in direct competition with private enterprise, and, because it has the special advantages of a State enterprise, it has somewhat cramped the style of the Steamships Trading Co. Ltd.

This may be a wise policy for the Papuan Administration to follow, from the very limited view of f.s.d.: but—in view of the fact that such Territories as Papua must be developed by pri vate enterprise—it is a policy that lacks vision and is not typical of Papua’s experienced Administrator, who takes a wide view of the future.