Papuan Trading
p. 12 · Read in the full issue
Co. Makes
Bigger Profits
THE boom being enjoyed by Papuan rubber-planters now, plus the enormous expenditure by Govern ment on administration, and by oil companies on oil search, is reflected in the report of Steamships Trading Co. Ltd., of Papua. In the year ended July 31, it made a record net profit of £61,193, and is paying 10 per cent, on its issued capital of £286,473. In addition, the Co. has over £300,000 in reserves, and uses some £BO,OOO of bank money. It has over £200,000 in land and buildings, £56,000 in investments, and some £400,000 in mer chcUidisc It was decided, at the annual meeting in Moresby in November, to issue another 134,283 ordinary £1 shares, at a price not yet disclosed. In the previous year, 66,666 shares were issued, at a premium of 10/-.
Apropos of this company’s big profits, it It worth noting that it was stated, at the annual meeting of the Dunlop Rubber Co. in Sydney recently, that that company was now paying 37Jd. Stg. per lb. for rubber, as compared with 9Jd. per lb. a year ago.