New Caledonia
p. 72 · Read in the full issue
Chrome Alluvials Ltd.
Chrome Alluvials Limited was formed in Mel bourne in September, with nominal capital of
£25,000, in £1 shares, for the production of chromite and pigments. The company proposes to operate in Noumea, New Caledonia. Vendors will receive 11,250 ordinary fully-paid shares, £2250 in cash, and a royalty of 3s a ton on products mar keted. An issue of 13,750 preference shares is being made. These carry the right to receive up to 25 per cent, on the net profits in any year.
The area which is being acquired covers 805 acres situated approximately 25 miles from Noumea. On an output of 25,000 tons of chromite a year, it is estimated that income will be £100,000. Expenditure is set down in the pros pectus at £23,750, leaving a net profit of £76,250.
The directors are Messrs. F. V. Smith, A. C.
Langford, P. H. Hopkins, and G. S. Anderson.
Mr. Leo S. Tracey, of the Audit Depart ment of the New Guinea Administration, sailed from Rabaul by the Nellore in September to spend furlough in the EasL Mr. J. Sedgers, inspector for Messrs.
W. R. Carpenter and Co. Ltd., New Guinea, arrived in Sydney by the Macdhui on September 24.
Mr. J. N. Maxwell, of the Australian General Electric Co., returned to Australia in October by the Van Rees, after in stalling mining machinery at the chrome mine of the Mutual Chemical Co., of New York, in the north of New Caledonia.