[?]ading in P-NG
p. 155 · Read in the full issue
[?] C Ltd. Reflects [?] ofitable [?]ading in P-NG
one takes Steamships Trading Uo. Ltd. as a barometer of ;conomic conditions in Papua— me may, because “Steamies” are ost enterprises, including general s, trade stores, plantations, Ding—one can say that the itory is still Cn joying a boom, e shareholders’ funds employed this big concern (subscribed al, £754,860; reserves, £850,000; L Account, £211,466), total 5,326. The profit for the year d July 31 last was £170,272. The ends recommended are 10 per on the Preference Shares and )er cent, on Ordinaries, requir ibout £90,000. This would have approximately £BO,OOO undis ted, so another £50,000 was d to general reserve.
C Ltd. has enjoyed this kind :ading for several years past, now is in a very strong position, general reserve more than [ to subscribed capital, e total assets (£2,145,513), in £872,312 of buildings and plant; )00 of plantations; £315,296 of Iry debtors; £740,000 of mer dise stocks; and over £60,000 of tments. jsent directors are Messrs. E. V. i (chairman), L. Tracey, L. A. s, R. J. Paul, G. M. Cadden, D. M. Spence. Mr. J. M. Mitchell >d from this service during the and Mr. Crisp resumed full itive control as managing tor. Mr. Spence, a departmental iger, joined the Board, to re- Mr. Mitchell. Mr. Tracey now iving the Board, after 25 years’ 30.