New Developmental Capital Issue

Guinea Airways

Over-Subscribed

THE issue of 80,000 £1 preference shares by Guinea Airways Ltd. was very well received, and we were advised by brokers early in July that, already, the issue had been “substantially over subscribed.” Allotments, however, could not be made before the advertised date (July 31). The new capital is for develop ments in Australia.

A new Lockheed Electra aeroplane, for Guinea Airways, will arrive in Adelaide early in August, and will inaugurate a new direct service between Adelaide and Sydney. The other Lockheed, brought from New Guinea, is maintaining the new Adelaide—Darwin service, with one of the three-engined Ford planes, also brought from New Guinea, held in reserve.

Pilot A. J. Turner arrived in Brisbane from Lae (N.G.) on July 1 with a Guinea Airways Ford, and returned to Lae a couple of days later. He brought the following passengers from Lae: Mr. H.

M. Smith (managing director of Guinea Airways), and Mrs, Smith, Messrs. T. E.

Millis, of Adelaide; G. W. Osborne, min ing engineer, of Wau; J. Leahy, miner, of Wau; and D. Wallis, mechanic.