and Industry

S. Pacific Commerce and Industry

Colonial Sugar Refining Co.: An Interim

ndend of 4 per cent., equal to 16/- on a 0 share, has been declared. This 8 per cent e compares with last year's 10 per cent.; 1 the new rate was foreshadowed when the ent l-for-3 bonus issue was announced.

Enterprise Of New Guinea Gold And

FROLEUM DEVELOPMENT. The annual general etmg will be held in Melbourne on December Fhe mine manager at the company's gold ses in Morobe, NG, reports that for the nth of November 28 oz of retorted gold lion was recovered from 28 tons of de opment ore. * * * fICKEL CO.: It was announced in Noumea in /ember that the new permanent director ieral of the company will be M. Rene Meyer I that the appointment of Mr. Dewez, an mced last month, was only in an acting c* ty i , M J ye . r . has recentl Y retired from Steel-Coal Pool m Europe and now heads 3trep a huge company with many ramifica is. It is financed by French banks and there also Belgian interests involved. This is company that is exploiting Sahara oil. * * *

(Orfolk Is. And Byron Bay Whaling

1 P* clared a dividend of 4d per share 6-2/3 per cent, for year ended October 31. company began operations in August, 1956 made a net profit of £31,047 for the * * * IJI BREWERY; At the annual general meet of Carlton United Breweries, Ltd., in Mel rn.e' a * e ? d . of November, the chairman ed that the brewery which the company run in Suva in conjunction with W. R. »enter and Co., should begin operations about August, 1958. * * *

Oitaki Para Rubber Estates, Ltd.: Be

>e of the unpredictability of rubber price, company will develop a second crop— »a. This was stated recently by the chair of the company, Mr. Philip Pring. He that although rubber was being produced the estate at a much faster rate than last ’, the price had declined by about lOd per pound on the rate at the same period year.

LACER DEVELOPMENT, LTD.: At the annual :ral meeting in Vancouver, BC, on Novem -12, shareholders approved the directors' irt and consolidated accounts; the re tion of retiring directors and reappoint t of Vancouver and Sydney auditors. ie special resolution for the amendment of company's articles of association was also ed. At a meeting of directors following annual meeting, the Hon. C. A. Banks appointed Chairman of the Board; Mr. . Simpson appointed President; and Messrs.

W. Austin and T. H. McClelland, vice idents. ie report of proceedings at the meeting xcedingiy interesting as it lists the many panics spread world-wide in which Placer nancially interested, and which account for company's strong position. In his annual rt, Mr. J. D. Simpson said (in part); Fou will have noted in the balance sheet litted for the year ended April 30, 1957, the cash in hand and in banks for Placer lopment. Ltd. itself is recorded as

$lO 162,651. Particularly m these times of tight money this places your company in a strong position to bring into production pro perties which our extensive exploration pro gramme might develop. In the meantime a large part of these cash balances is earninq interest for the company as time deposits." * % % TASMAN EMPIRE AIRWAYS, LTD.: In a glossy brochure, this Government-owned airservice, has

presented its annual report for the year end ing March 31, 1957. Net profit for the year is shown as £NZ235,880. Loan capital was re duced during the year under review from £NZ550,000 to £NZ450,000, and since balance date it has been reduced by a further £NZ3OO,OOO. The remaining amount is expected to be paid off long before due date—September, 1959. This company has, however, some prob lems of requipment ahead of it that are only touched on lightly in the report; the replace ment of obsolescent flying-boats on the Coral Route; and also of the DC6 fleet by end of 1959.

W. R. CARPENTER AND CO.: A prepared statement on its capital issues since July, 1923, shows that the average price paid by a person who invested in 1923 and took up all his subsequent rights, would have been 1/3 per share. A purchase of 500 shares at 20/6 in 1923 would have grown to 1,986 shares costing £1,889 by the end of 1938. But in 1949 his total cost would have been reduced

to £1,005 by capita! return of 10/- per share in that year. Since then a share split, a bonus issue and a two-for-one exchange leaves the original holder of 500 shares with 15,888 5/- shares whose value is around 12/- (current market quotations are around twice that but include the latest one-for-one bonus). * * * OIL SEARCH, LTD.; Annual report released early December shows that Australasian Petroleum Co., of which Oil Search has 10 per cent, interest, has not planned for further exploration work in Papua beyond the four current wells, Barikewa, Puri, Komewu No. 2 and Kuru No. 3 (the last two to be spudded in soon). Future of APC's exploration activities will be discussed with overseas advisers early next year. Liquid assets of Oil Search are £583,059; this is expected to be sufficient to meet commitments until late next year. * * *

New Guinea Goldfields, Ltd.: Net Profit

for year ended June 30, was approximately half of profit for previous year. No dividend has been declared. Net profit is £70,349. Mining profit drop was caused by large amount of unproductive work in alluvial operations; and trading profit fall, caused by severe limitation imposed by P-NG Administration on timber to be cut (reported chairman at annual general meeting on December 16, in Sydney). Outlook in both departments is improving.

Papuan Apinaipi Petroleum Co., Ltd.:

The chairman, Mr. Bruce W. Graham, has an nounced that the company expects to spud-in its Kaufana well on December 11.

Sydney Stock

Exchange

December 6.

Boyer Seller Burns Philp • 61/6 62/3 Burns Philp (SS) . ■ 44/- 45/6

Csr

• £411 £42 Dylup Plantations . 12/- 12/3 Hackshalls • 38/- 40/- Kauri Timber • 21/9 22/6 Kerema Rubber 8/6 11/6 Koitaki . 12/- 12/4 Lolorua Rubber Estates 8/9 Mariboi Rubber 6/- 6/6 Norfolk Is. Whaling . 4/1 4/2 Queensland Insurance 65/- 69/- Queensland Insurance (new) — Rubberlands 5/6 6/- Sthn. Pacific Insurance . 51/- Sthn. Pac. Insurance (new) 51/- — Steamships Trading . 48/3 48/9 Timor Oil 7/2 7/3 W. R. Carpenter . — —

Oil And Mining Shares

Fiji

Aug., '39 June, '57 Dec. 6, '57 Emperor . . . b/9/11 blO/3 b7/3 Loloma ... s25/6 b27/n.q.

Papua-New

Guinea

Bulolo ... b!24/b45/s41/- N.G.G. Ltd. . . bl/TO b2/2 s2/4i Oil Search . . b3/ll bl4/ll b6/ll Ent. of N.G. . — s2/b9d Oriomo Oil . . b5/b6/6 b4/7 Papuan Apin. . b4/l 1 b3/6 b2/6 Placer Dev. . . b68/6 bl01/6 b88/- Sandy Creek bl/5 s6d s6d