Rubber

Recovery Of Papuan

Koitaki Estates Pays Two Dividends

From Our Own Correspondent

Pt. Moresby. Feb. 20.

BESIDES declaring a dividend of per cent, for the year ended June 30 last.

Koitaki Para Rubber Estates Limited, operating a rubber plantation lying 30 miles outside Port Moresby has announced an interim dividend of 6d per share. The Company must be congratulated on its speedy recovery from the effects of the depression in rubber which lasted from 1929 until 1933.

Rubber planters in Papua to-day are in a fortunate position. The market price has been rising steadily, added to which the grant-in-aid of 2d per lb., the exemp tion of primage and the advantage of the exchange make the margin of profit even more acceptable. The position was serious at the end of 1930 and had not the con tinued representations for assistance from the Federal Government resulted, in No vember, 1930, in a duty of 4d lb. on all foreign rubber entering the Common wealth except from New Guinea and Pa pua, the industry no doubt would have ceased to exist.

This measure offered the Papuan grow ers the sale of their produce on the Aus tralian market at a price between 3d and 4d better than world parity. Later, in February, 1933, to suit the needs of the Australian manufacturers, the duty of 4d was extended to Papuan and New Guinea grown rubber, but the duty was returned to Papuan planters as a grant-in-aid.

In October, 1933, the duty of 4d was re duced to 2d. This caused some concern, but as the market price rose to 7 3-8 d in September and has continued to remain steady, the fears of the planters have sub sided.

Captain Maurice Godley, Aide-de-

Camp and Private Secretary to the Governor of Fiji, sailed from Suva for England on furlough by the Niagara on February 8.