Liquidation
p. 29 · Read in the full issue
Papua Rubber Co In
A SMALL meeting of shareholders in loma Rubber Estates Ltd., Papua, in Sydney, on May 5, resolved that the company should be placed in voluntary liquidation and that Mr. Cohen, of Messrs. Walker & Co., at the offices of the company, 14 Martin Place, Sydney, should be the liquidator. This concern— a bond-selling company—originally sub scribed beteen £35,000 and £40,000, where with it planted with rubber an area of about 400 acres, on the Mambare River, NE Papua. Operations were controlled by a £2,000 company which sold the bonds and planted the acres. Directors blamed the low price of rubber and the high cost of Wardism.( inability to obtain labour at an economic price) for their inability to carry on.