Trading Notes

Bulolo’S Profit Drops: The Profit

of Bulolo Gold Dredging Ltd., for the six months ended November 30, dropped by 56,500 Canadian dollars to 164,400 dollars, when compared with the corres ponding period of the 1963-64 financial year. The latest profit figure includes dividend and interest income. Gold recovery fell sharply from 8,595 oz in 1963 to 4,724 oz, for the latest period.

Rubber Production: The World

will have an excess of at least 250,000 tons of rubber by 1970, according to Senator Gan Teck Yeow, chairman of the Malayan Rubber Export Registration Board. By then world consumption would be between 5.5 million and 5.75 million tons.

As there would be an excess it was up to Malaysia to handle properly the war against synthetics. The Malaysian approach was vital,

Pi Timbers Par Issue; Pacific

Islands Timbers (Holdings) Ltd. plans to consolidate its financial position and provide further funds for expansion by raising £40,000 by the issue of 5/shares at par.

The issue will remain open till Feb ruary 21.

Shareholders will be offered shares without specific entitlements and any shares not subscribed for by shareholders will be taken up by the directors or their nominees.

The directors do not expect to pay a dividend for 1963-64, but expect future profits to be adequate to service the new capital of £165,000.

Loloma Changes Name; An Extra

ordinary meeting of shareholders of Loloma (Fiji) Gold Mines has decided to change the name of the company to Loloma Mining Corporation NL. The original name referred to the gold mining leases held in Fiji which were worked out.

SPSM’S SHARE ISSUE: South Pacific Sugar Mills has extended to February 27 the closing date for applications for shares in the company. SPSM is offer ing 5 million 5/- shares to the public of Fiji at par. Mr. A. S. Hermes, managing director of SPSM Ltd., said the extension was to give more time to a number of people who apparently were contemplating making an application for shares.

Ng Coffee Board: Mr, D. F.

Falconer has been appointed to the NG Coffee Marketing Board to fill the vacancy caused by the resignation of the chair man, Mr. lan Downs. The Board has the power to market P-NG coffee.

NG TRADE FIGURES; Overseas trade for the year ended June, 1964, amounted to £55,812,000, an increase of £9,125,000 or 19.5 per cent., it was announced in Port Moresby in January. Exports in creased by 12.7 per cent, and imports by 23.9 per cent.

FIJI TRADE FIGURES: Provisional trade figures for the first 11 months of 1964, announced in Suva in January, were: Exports, £22,294,000, an Increase of 16 per cent.; imports, £24,643,000, an increase of 33 per cent.