And Industry

Ket Moves

Pacific Commerce And Industry

Enters Investment Trading Co.,

his company incurred a loss of £22,952 year ended June 30 and for the first its 21-year history will not pay a vidend. Last year there was a profit 193. The parent company showed a f £6,721, compared with £15,862 last n interim dividend of 2 per cent, was quiring £3,000. Normal dividend rate per cent. The group loss was caused effect of flood conditions on Rainbow rigation Pty., Ltd., directors say. Other ies and the parent company earned * * * IS HEDSTROM, Ltd.; Net profit of ledstrom. Ltd., planters and merchants, 1 by £19,815, or 15.9 per cent., at 10 for the year ended March 31 after provisions. The result is after tax, r (down £6,386), depreciation £87,596 £31,446) and staff fund £17,241 (up Ordinary dividend is unchanged at last creased rate of 12£ per cent., absorb ,oso. The remainder of the profit irry forward to £503,072. * * * UA RUBBER ESTATES; Lolorua Rubber Ltd., earned £31,941 net profit for ended April 30, a rise of £17,884. ras after charging £6,904 depreciation year, £6,392). Dividend, doubled from ent. to 20 per cent, required £20,000. ❖ * * 0 GOLD DREDGING, LTD.; Production 2 months to May 31 dropped by about )z fine gold. The total output was oz, compared with 60,001 oz. The dredged also dropped, from 14,176,650 to 11,339,200 in 1956. The respective n US dollars, were, 1955, 2,100,035; ,404,690. No. 7 Dredge sank and in its dredge pond at Bulolo after the list shaft broke. Damage and standing were covered by insurance. * * * t DEVELOPMENT; Placer Development, de 10,948,910 Canadian dollars profit ended April 30, a sharp increase previous year's profits of 2,036,149 The rise was mainly due to a large paid by a subsidiary, Canadian Ex- Ltd., which operates lead-zinc and mines in British Columbia. * * ♦ iOLES AND PENNEYS: G. J. Coles and paid £4,175,000 in shares and cash iys. Ltd., the retail subsidiary of Boms 1 Co., Ltd. Coles paid 3,600,000 5/shares, and £1,025,000 cash. On latest prices the share payment equals 0. * * * iLDFIELDS: During June New Guinea , Ltd., production was as follows: den Ridges Mill, 1,130 oz fine gold, silver. Golden Ridges Alluvials, 109 jold. Koranga Alluvials, 569 oz fine ibutes, 118 oz fine gold. Timber, super feet. * * *

Id And Petroleum Development:

leum prospecting permit of Enterprise uinea Gold and Petroleum Development been extended to June 30, 1957. me the company treated 12 tons of For 10.5 oz of gold. * * *

I Apinaipi Petroleum: Papuan

Petroleum Co., Ltd., plans a new issue solders and public, and also a link Delated Oilfields N.L. to develop the ir 0,1 on the company's permit area

in Papua. The total issue could involve 4,000,000 5/- shares, or £1,000,000 The planned issoe involved 3,000,000 5/- ordinary shares, a further 500,000 to be taken firm, full Y Associated Australian Oilfields, and 500,000 for public subscription. In addition the directors reserve the right to accept appli cations for a further 1,000,000 shares Asso ciated Australian Oilfields, N.L., has agreed to sell plant to Papuan Apinaipi.

LOLOMA (FIJI): Loloma (Fiji) Gold Mines N.L. will td lcg up 96,830 of the rSahtc if entitled to in the issue being made 9 by Grs Boulder Pty. Gold Mines, Ltd This win Loloma s holding in Great Boulder 825,000 stock units which numerically equal Lolom? own issued capital of 825,M0 shares Th ’ directors say they have made satisfactory

(Continued foot Col. 1, Page 153)

its for disposal of the company's rights to the issue. * * ♦

Petroleum And Island Explora

ee Sikorsky 58 helicopters will be year to speed up the search for oil Mr. L. A. Pym, general manager of n Petroleum Co. Pty., Ltd., and ■oration Co. Pty., Ltd., said that the anies would operate continuously in following completion of three drilling u, Berikewa and Morehead. Early it was announced that provision was further capital raising by Aust. Pet ™.„ a £5,000,000 increase in nominal £20,000,000.