British Expert’s Opinion

Papuan Sugar

From Our Own Correspondent

Pt. Moresby, Nov. 12.

HAVING recently visited Papua to in spect Sangara Sugar Co.’s property outside Buna, in the Northern Division, Mr. Moody Stewart, a British sugar expert, spoke in glowing terms of the Territory’s sugar prospects, on his return to Queens land. “Papua is a wonderful country,” he averred, “and is especially suitable for the growing of sugar cane.”

It is known that the Territory possesses lands ideal for sugar growing, as it is the home of the “Badila” variety, the richest cane known in the world. It is still con fidently hoped that with the ideal condi tions of soil, labour and climate, Papuan sugar planters may yet successfully com pete with world growers.

Sangara Sugar Estates Limited was formed in July, 1931, with a nominal capital of £1,000,000 in 1,000,000 shares of £1 each.

Of this 450,000 shares were offered for sub scription, 50,000 fully paid were issued to vendors, and 500,000 were held in reserve.

The object of the company was to acquire 20,000 acres of approved sugar lands near Buna and to plant sugar on an extensive scale for export to England and Canada.

Unfortunately, sufficient capital was not forthcoming at the time, owing to the general economic depression and the com pany’s enterprise was shelved until better conditions prevailed.

It was a disappointment, for in 1931-32, as at the present time, Great Britain and Canada offered markets for sugar. Papua as a British dominion enjoys the advan tage of a British Empire preference.