and Industry

S. Pacific Commerce and Industry

Australasian Petroleum Company Pty..

Ltd., And Island Exploration Company

PTY., LTD., reported progress on October t as follows: Parikewa: The hole deepened 1,177 fee! to 7,992 feet.

Komewu No. 1: The hole deepened 451 fee; to 6,377. A site for Komewu No. 2, approxi mately two miles from No. 1, prepared t permit the transfer of the drilling outfii immediately Well No. 1 is completed.

Puri: Fly-in of the drilling outfit by heli copter commenced. The hole is expected ti spud-in by mid-November.

Kuru No. 3: An access road to another drill ing site at Kuru, slightly more than half-a-mif from the two holes already drilled, com menced. The hole is expected to spud-in mic January; its objective is to explore formation not reached by Kuru No. 2.

BULOLO GOLD DREDGING: Production for th quarter ending May 31, was 12,326 oz fin gold from 1,922,100 yards dredged. Value wa $431,410. No. 4 dredge closed down in Ma leaving No. 5 to carry on alone; howeve; hydraulic mining is being carried on on tH Widubosh leases.

It is interesting to note that although tH yardage treated is less than in 1956, gol yield is higher, by about 11,000 oz arc $400,000.

Net profit from dredges and hydraulic oper tions for 12 months ending May 31, is est mated at $850,000.

DYLUP PLANTATIONS, LTD.: Operations fr the six months up to July 31 have been satii factory reported the directors of this compar (copra and cocoa plantations in Madang areE NG). An interim dividend of 6 per cent, is unchanged rate.

Copra production had been maintained the period under review, cocoa production hii reached the estimated tonnage of a full yes and more cocoa had been planted. * * *

Enterprise Of New Guinea Gold Ah

PETROLEUM DEVELOPMENT: The mine managei report, issued from Melbourne, September X advised that operations have been hindered a landslide on part of the NG gold workinr doe to exceptionally heavy rain. Result is thl development work was retarded durii September.

Progress report issued on September stated that 95 oz retorted gold bullion we recovered from 36 tons of development o treated during September. ❖ * ❖ HACKSHALLS, LTD.; The year ended June was the best in the company's history, wv net profit at £70,510. Profit in 1955-56 w £62,153, and in 1954-55 it was £50,228.

The ordinary dividend is unchanged at If per cent., including a final of 6\ per cen and requires £62,500. The balance of £B,O is added to general reserve, which now start at £97,071.

The directors reported that during the additions were started at the Southern Cn Flour Mills. When completed output will crease. A contract has been let for extensiii to the Suva factory and additions are planir for the Newtown (Sydney) bread factory, all, this expenditure will exceed £lOO,OOO.

The director added that economies of Pacific Islands were being strained by fall in world prices of Island products.

Koitaki Para Rubber Estates: Dividend

30 per cent, will be paid by the company Mowing a declaration of a net profit of 0. for the year ending July 30 —£18,000 is than in 1956. Dividend in 1956 was 35 r cent. * * *

Norfolk Island And Byron Bay Whaling

LTD., reports that the season's quota of D whales has been taken at Norfolk Island, is completing quotas both at Norfolk Island i Byron Bay. ♦ * *

Papuan Apinaipi Petroleum Co., Ltd.:

> directors of the company have made a jl call of 1/- per share on the whole of the itributing shares (3,007,841 of 5/- each) ich will make the shares fully paid. (he call is due and payable on October 28. * * * !ÜBBER: Papua rubber yields in August e: Kerema, 46,500 lb; Lolorua, 40,046 lb; riboi, 81,934 lb; Rubberlands, 34,520 lb. * * *

Andy Creek Gold Sluicing, Ltd.: Advice

been received that during the month of tember, approximately 103 oz 5 dwt of i was recovered from approximately 9,600 ic yards of material treated. * * * IMOR OIL, LTD.: All well drilling gear and plies have been landed at Alianbata, Timor, the first hole for a stratigraphing test was ected to be spudded-in in the second week October. The company's prospecting con iions have been extended until October, 9. * * * 1. R. CARPENTER & CO: See article on 2- 1 issue in Holding Company on page 49.

Sydney Stock

Exchange

October 10.

Buyer Seller Burns Philp . . 58/9 59/- Burns Philp (SS) . . . 43/- 44/-

Csr

£373 Oylup Plantations .. II/- 2 11/6 Hackshalls 40/6 Kauri Timber Kerema Rubber . . 13/6 Koitaki ,, 15/6 Lolorua Rubber Estates 8/8 8/9 Mariboi Rubber . . .. 7/4 7/5 Norfolk Is. Whaling 6/10 6/n Queensland Insurance . 67/6 69/- Queensland Insurance (new) 67/- 68/- Rubberlands 6/11 Sthn. Pacific Insurance 50/- 55/- Sthn. Pac. Insurance (new) 50/- 55/- Steamships Trading 49/6 50/- Timor Oil 13/4 W. R. Carpenter . 23/3 24/-

Oil And Mining

Fiji

Aug., '39 .

June,'57 Oct. 10,'57 Emperor . . . b9/l 1 blO/3 s7/3 Loloma ... s25/6 b27/s35/-

Papua-New

Guinea

Bulolo ... b!24/b45/b46/- N.G.G. Ltd. . . bl/10 b2/2 b2/2^ Oil Search . . b3/l 1 bl4/ll b7/6 Ent. of N.G. . — s2/bllid Oriomo Oil . . b5/b6/6 b5/- Papuan Apin. . b4/l 1 b3/6 b3/10 Placer Dev. . . b68/6 bl01/6 b96/- Sandy Creek bl/5 s6d b2d