SlC’s New Share Issue

A STATEMENT was made in some Aus tralian newspapers, and repeated in the April PIM, to the effect that Steamships Trading Co., Ltd., of Papua, which is increasing its capital, had made one ordinary share available to its share holders for every share held.

That was not correct. Present share holders have had shares made available to them for 30/- each—a price which compares more than favourably with the 50/- which is the current quotation in Australia for this Company’s shares of the present issue.