Guinea Airways

Extended Activities and New Capital

VV/dTHOUT a dissentient voice, share ** holders of Guinea Airways Ltd. in Adelaide on April 2, agreed to increase the nominal capital of the company from £200,000 to £300,000.

It is intended to raise £40,000 of new capital (making the total issued capital £120,000), wherewith the company will build new hangars at Parafield (Ade laide) and (possibly) Sydney, provide for new plant and ground organisation, and provide working capital for the rec ent expansion of the company’s opera tions so as to include the Australian mainland.

The chairman of directors, Mr. C. V. T.

Wells, told shareholders that figures re ceived that week from New Guinea showed that in the year ending February 28, the company had carried 6705 tons of goods by air—an increase of 229 tons on the 1935-36 record total of 6476 tons. The annual accounts would be presented and the dividend announced at the annual general meeting in May.

The chairman said that only a few days previously they had completed a three-years’ contract for the whole of Messrs. Burns, Philp’s air transportation in New Guinea, and had also arranged new contracts with two important min ing companies.

New Managing Director

The chairman announced to the meeting the appointment to the position of man aging director of the company, of Mr. H.

Morris Smith, who has been assistant secretary of the company, in Adelaide, for some years.

Now that the company has commenced operating in Australia, the need for a chief executive in Australia has become pronounced and, after careful thought, Mr. Smith was selected. He is a young man, with a first-class business record and was an engaging personality. He will, as managing director, exercise supervision over the New Guinea busi ness; but Mr. Eric Chater will, as hereto fore, act as general manager of the com pany’s extensive operations and property in New Guinea and Papua.

Adelaide—Darwin

A great deal of interest is being dis played in Australia in Guinea Airways’ new trans-Australian weekly air-mail service, between Adelaide and Darwin.

The big Lockheed machine that was brought from New Guinea is carrying on the service, via Alice Springs, Ten nant’s Creek and other centres. The trans- Australian flight is made in a day and a half.

The South Australian Government is making plans to send tourist traffic by this service to Central Australia, where there are many remarkable scenic at tractions. It is thought that Alice Springs might become an important health resort.