Gold - Bulolo - Plywoo
p. 168 · Read in the full issue
Forgotten New Guinea
History
Levien - Wells - Guinea Gold - Bulolo - Plywoo
r[ERE is an interesting little t of New Guinea history wrappi up in the prosaic annual repc of an Adelaide company, Guim Gold, NL, just received. It r ports the death of the chairmi of the Co., Mr. C. V. T. Wells.
Cecil Levien and Charlie Wei were fellow officers in World W I. Wells afterwards stayed at hon in Adelaide and became professional accountant. Levi, went to New Guinea, and was District Officer in the Morobe ar when the old Australian prospectc —Sharkeye Park and company found their Bonanza at Koranga., Levien resigned from the Admi: istration in 1923, went into tl mountains and worked alongsi.
Park for several years, washing 01 a fortune in gold.
After Edie Creek was discover! in 1926, and the Urquhart fren developed (ultimately leading New Guinea Goldfields Ltd.) I began to study the Bulolo Riv Flats.
As a result, he got leases ov those flats; and he went Australia with what was describ« as “Levien’s madheaded scheme fl dredging the Bulolo flats wii dredges flown in by big planes.”' Eventually, he found his way his old friend Wells, in Adelaid and Wells believed him.
With two or three friends — tl late Mr. Jeffries, and Mr. W. P.
Lapthorne, still going strong, we among them—Mr. Wells forrm Guinea Gold NL. Out of thi enterprise there came Placer Lh Bulolo Gold Dredging Limited, ar Guinea Airways Limited—each famous money-spinner—and no Commonwealth New G u i n e Timbers Ltd., which is taking ov\ as BGD fades slowly away.
Guinea Gold was like som«thir out of a dream. It never had paid-up cash capital of more ths £37,487; and each year, for years, it has received dividends excess of its capital. Even to-da it receives between £30,000 an £40,000 pa from its BGD share and it costs less than £l,OOO pa run it.
C. V. T. Wells dropped right ox of sight just before World War I when it was discovered that I had the dreaded Parkinson Disease; but he died only last yes He was responsible, with Levies for the huge Bulolo effort whio. opened up the Morobe dredgin industry, which now has led to tK, plywood pine industry—but fo to-day even know his name.