New Guinea Goldfields

, Ltd., which holds very extensive gold-mining lands and properties in Morobe dis trict, and whose capital was written down heavily to £950,371 Jn the ’thirties, will hold its annual meeting this month. Its administrative costs during the year to September 30. 1944, were £6,809, and it received £3,675 from funds and invest ments.

Mine property is shown at £653,125; buildings and equipment, £168.413; stores, £47,018; and it has (ready for the resump tion of mining), £56,190 in cash, and £87,620 in war loans. It may be assumed that, under the new definition of war damage, this company will receive a sub stantial sum from the War Damage Com pensation fund, to pay for repairs and rehabilitation.

This company’s shares, worth 4/3 nominally, are quoted at about 2/3. If gold is to hold its value in the post-war world, they should be worth more than that.