expansion of J. L. Chipper

Ltd. of Rabaul

\ new registration on the Brisbane »ck Exchange is Chipper Holdings,, Ltd., lich will take over the assets of J. L.

Upper & Co.. Ltd., of Rabaul. The areholders of the latter company re ive 160,000 10 - shares, and 110,000 10 -

shares will be offered for subscription to the Australian public.

It is not a good time for a new issue of this description. The Australian public was hungering for such investments a year ago; but, since August, a number of new 'issues have “flopped.” However, a business like this, based on sawmilling and timber export in a tax-free country, with an Australian and American market seeking its products, can make a special appeal to the shrewd investor, and the issue should be taken up.

Mr. J. L. Chipper, a tireless, enter prising man, has created a big organi sation in Rabaul, based on timber, lightering and engineering, and is obviously ready for the bigger expansion that this float would permit.