BSI Government

"Anxious for Copra Production"

Advice to the Solomon Islands Rubber Plantations Ltd.

ADVICE was received by The Solomon Islands Rubber Plantations Pty., during the year ended July 31, 1946 from the British Solomon Islands govern ment, to the effect that Government was anxious to re-establish the copra industry in the Protectorate as soon as possible.

At the annual meeting of the Company (which has a coconut and rubber estate on Ysabel Island, BSD in Brisbane, on December 20, however, it was pointed out in the Directors report that, at the same time that the Government expressed this anxiety, they had levied a 15 per cent, export tax on copra, whether the pro ducer had made a profit or not.

The Company’s plantations of 60.000 coconut trees and 8,300 rubber trees had been reported uninjured and inspite of unfavourable conditions the Company was anxious to go ahead with rehabilita tion, the chairman of directors stated.

Transport in BSI, both inter-island and overseas, was negligible at the present time—the only regular link was between Guadalcanal and Noumea. Labour was in short supply and although it may gradually be forthcoming it will be at increased costs to those existing before the war. The Board was keeping the matter of war damage before the authori ties and it was hoped that a satisfactory settlement of the Company’s claims would eventually be made.

Having regard to the Company’s needs

for working funds to re-open the planta tion during the current year, the direc tors had decided to make a call of 1/- on “B” preference shares.

Loss for the year was £l6B plus £172 depreciation. Reserves have not been drawn upon and all known liabilities have been provided for, with the excep tion of the uncertainty as to the state of the plantation and livestock.