B.N.G. Co.’S Accounts.

British New Guinea Development Co., Ltd., which holds 24,920 acres in Papua, mostly on 99 years’ lease, dating from 1910, has made available its accounts for the year ended January 31, 1933, which show a loss of £115. To this is wadded debenture interest £5277, and loss brought in £286. Allowing for transfer of £10,000 from reserve, there is a debit balance of £3678 to carry forward. As provided for in the trust deed, £10,000 of debenture stock was redeemed by June 30, 1933. The output of copra was 1926 tons, comparing with 2166 tons for 1931-32. Owing to the smaller yield, cost was higher and production resulted in a loss of 14/3 per ton, against 8/11 per ton for the previous year.

Rubber production increased from 663,4051 b. to 785,3281 b. Net sale price fell from 6.32 d. to 5.81 d. per lb. f.o.b., and cost was reduced from 5.55 d. to 4.55 d. Values are in Australian cur rency.