The news magazine of the South Pacific · since 1930

Pacific Islands Monthly, 1 May 1954Vol. XXIV, No. 10

[?]uthbert’s Creditors May

p. 149 · Read in the full issue

Lose Some £11,000

HHE liquidator of Cuthbert’s L Misima Gold Mine Ltd. (Papua) announced recently that liquida on is now practically complete, ad there is little if anything further )r creditors still claiming £11,358 Deluding Tax Dept., £845).

This is a truly astonishing end > a goldmining enterprise which le PIM, before World War 11, sually referred to as “Freddie uthbert’s Bonanza”—it was so ch that, for years, it regularly lid dividends close to 100 per mt. The evacuation of 1942 caused ant disintegration; and, after the ar, the operators lost the rich lode ley had been following on Misima land, and finally abandoned the

hole enterprise.

Time-Finish

Mr. Gerry Power, of the Common wealth Bank, who finished his tropical term and left for south in the April “Bulolo”. —Photo by Papuan Prints.