Sandy Creek’S Losses
p. 31 · Read in the full issue
A LOSS of £2,190 was made in the year ended March 31, 1951, by Sandy Creek Gold Sluicing Ltd., of New Guinea (H. G. Hyde and J. W. Hinks, principal directors). The company’s Sandy Creek property petered out and was abandoned, and the plant on the Watut property was out of action for half the year, owing to drought. It treated 50,000 cubic yards of material for 820 ounces of gold—equal to 3/11 per yard. The company had a sub scribed capital and a general reserve totalling just under £100,000; but £8,700 of losses, and £63,464 written oft the Sandy Creek property, leave only £26,000 of shareholders’ funds. Plant and equip ment have been improved, and the com pany has done better in the current year.
CORRECTION: In reviewing Dog Watch (journal of the Victorian Shiplovers’ Society) recently, we gave Miss S. A. Strom’s address as 177 Williams Rd. Prahran, Mel bourne. This should be 117 Williams Road.
The vereran Roman Catholic missionary, Bishop Francis X. Gsell, was invested with the French Legion of Honor in Sydney on February 2. The award was for outstanding service in the Northern Territory and Papua. The Bishoo, who is 80 and retired from mission ary work two years ago, is a native of Alsace. He left Prance for Australia in 1897.