[?]d Go Quietly

Is Acceptable

[?]G Shareholders [?]e Film [?]d Go Quietly

SERE were no fireworks at the meeting of New Guinea Gold fields shareholders in Sydney on ;ember 15, and the directors’ re imendation that 3d per share dend be paid was accepted with one dissentient voice. 11 other business at the meeting ; also despatched with speed and i almost complete lack of inter tion. his was a different reaction n that which occurred at the ly annual meeting in January, >, covering activities for the nous 12 months and when on the .ouncement that the improved tion of finances permitted pay it of the company’s first dividend 3d. per share, a section of the reholders present insisted that it a miserable return after 13 :s’ operations. (See Dec. PIM.) he reason for the closing of the pany’s accounts on June 30 this r was that the directors have id that economies will be effected this action, for administrative ions in the Territory and for ions connected with the com y’s claims for subsidy under the i-Mining Industry Assistance This will be the procedure in ire years. l the 9 months period October 1, -June 30, 1955, net profit was 190, which was substantially ,ter than the profit for the whole nonths period in the preceding (£32,712). le company has submitted a n for subsidy to the Common ith Treasury under the Corn wealth’s Gold Mining Industry stance Act of 1954. NGG Chair - . of Directors, Mr. J. Krutt litt, told the meeting on De ber 15 that if the company’s n is accepted without important istments, they could receive a idy of about £25,000. has previously been pointed out PIM that with the 4/3 NGG ■e selling at under 2/- on Aus an Stock Exchanges, 3d per •e dividend represented a good rn for investment. However, Australian investors appear in sted, and at end of December 3r shares were still being quoted round 1/10 and 1/11. 5 the meeting the retiring ctors, Messrs. H. H. McNall and I. Hohnen, were re-elected. : the conclusion of the meeting, 5-minute coloured documentary

film on the company’s activities at Wau, NG, was screened. The film, produced by Mr. Norman Wallis, of BSIP and Sydney, under the auspices of the Timber Development Asso ciation of Australia, covered NGG’s mining and timber enterprises in the Morobe district, but incorporated many fine shots of the surrounding countryside.

The film is being sent to England for a screening before UK share holders of the company.

If Mr. P. W. Brosgard who was well known in New Guinea for several post-war years as an officer of the Department of Agriculture, is now in the service of a New South

Wales firm as a technical adviser on poultry-farming and subjects allied thereto. He was a Yuletide caller on PIM, and sent greetings to many friends in New Guinea.

U Dr. L. G. Poole, Senior Medical Officer, Fiji, will leave the Colony in January on leave prior to transfer to Nigeria as Tuberculosis Specialist.