Bsi Copra Bd. Considers

Last Year’S Accounts

Honiara, Oct. 30.

AT a recent meeting of the British l*" Solomon Islands Copra Board, indited accounts for the year ended )ecember 31, 1951, were presented md were accepted and approved by nembers. The Board hopes that now laving the services of a permanent md full-time Secretary-Accountant Mr. E. V. Lawson) balance sheets wll be available each February.

Accumulated funds as at De ember 31, 1951, were £65,374/0/2 nd there has probably been some jrther increases this year. How ver, as the Board’s monthly com litments necessitate the use of over raft facilities from the Bank, all vailable accumulated funds must be sed in the Board’s business.

The possibility of establishing a tabilisation Fund was discussed by lembers of the Board, who were all i favour of the idea but expressed Dubt as to whether the industry mid stand any substantial deductions >r stabilisation at this stage. The oard decided to refer the matter to e Solomon Islands Planters’ and ommercial Association for their Dinion as to how much per ton mid be deducted next year.

The opinions of planters are wel >med by the Board.

Editorial Note

The BSI Copra Board consists of ree government members, two itive members representing native >pra producers, one member repre nting missions and two Europeans presenting European planters. All e nominated by the Government, te Board has appointed the Trade :heme as its buying agent and, after me pressure, the Fairymead Sugar Mnpany, at Yandina, as sub-agent.

BSI planter, who is at present in r dney, when asked to comment on e above report, said that since the ipointment of Fairymead as sub ent many planters have preferred to nd their copra there although it is rther away than Honiara. The ason is prompt payment, which, he ys, they do not get from the rade Scheme. He says that the )ard, and through it the Trade beme, was allowed an overdraft om a Sydney bank of £20,000 to eet copra purchases. As they have buy something like a £1,000,000 orth of copra per annum this is tally inadequate and the gap is made 5 by the Trade Scheme “waiting itil a ship is sighted on the horizon”

Tore weighing and paying planters •r their copra. When asked to accept

the Board’s invitation and give his opinion on a stabilisation fund, the

visiting planter used a lot of rude words.

Travellers to Port Moresby on Bulolo which left Sydney, October 31, included (left to right): Mr. S. Armstrong and daughter Noelle, who were returning to Moresby after a holiday. Mr. and Mrs. R. F. Eginton and Mr. and Mrs. R. W. Eginton, well known in Moresby business circles.