20% Dividend

Tiveri Gold Co. Declares

From Our Own Correspondent.

Pt. Moresby, July 16.

THE annual general meeting of shareholders of Tiveri Gold Dredging Co. Ltd. was held in Port Moresby on July 9, and the accounts for the year to June 30 showed a satisfactory position.

The meeting authorised a dividend of 20 per cent.

The total revenue for the year amounted to £10,744. Working expenses were £5,178, and £597 was expended on capital accounts. The 20 per cent, dividend absorbs £2,990 and bonuses to the field staff total £150, leaving a credit balance at profit and loss of £2,338 to be carried forward, after deducting £238 brought forward from the previous year.

Messrs. J. W. Hinks, T. L. Sefton and G. G.

Smith were re-elected directors and, with Messrs.

A. L. Clarke and T. Nevitt, form the present board of directors.

Mr. D. G. Bull arrived at Apia from New Zealand by the Maui Pomare on July 24 to conduct an official inspection of schools in Western Samoa.