N.G.G. Shares
p. 36 · Read in the full issue
IT was announced by the chairman at the annual meeting of shareholders of New Guinea Goldfields Ltd., in Janu ary, that as this company has built up large liquid funds from reserves made for depreciation and ore depletion, and as the life of the company’s enterprises in New Guinea is not likely to be a long one, it has been decided to commence at an early date to return the capital to shareholders. The capital of the com
pany is something over £1,100,000 in 57shares. As the company has been paying 5 per cent, for some time, and seems likely to continue, and it furthermore seems determined, under its present effi cient management, to return the capital value of the shares to shareholders, N.G.G. 57- shares at their present mar ket quotation of around 2/6 represent an interesting proposition for investors.
Mr. R. Morrissey, of N.Z., has joined the Samoan Treasury Department.