Their Own Co.
p. 54 · Read in the full issue
Fiji Residents and Search For Gold
From Our Own Correspondent
Suva, Dec. 11.
CONVENED by Captain C. G. Fenton. * a meeting of Suva residents on Decem ber 5 decided to form a local company.
Gold Search (Fiji) Limited, to engage in mining activities in the Colony.
Gold-seeking companies formed in Aus tralia are faced with heavy initial trans port and accommodation expenses which the new company will escape, said Capt.
Fenton, outlining the proposal. The Co.’s representatives will be directly under the eye and supervision of the directors and will have the benefit of local know ledge.
It is not intended to send out expensive prospecting parties, but the company would follow up discoveries and develop ments in order to get in early on new finds, he added.
Proposed capital is £lO,OOO in 100,000 shares of 2/- each, 50,000 of which are to be held in reserve. The meeting appointed Messrs. D. Costello, A. Barker, C. G. Fen ton, A. Lewis and R. L. Munro as pro visional directors, and Mr. A. J. Rutledge was elected secretary. The meeting closed with the chairman’s assurance that the preliminary arrangements would be com pleted within a fortnight.