Trading Notes
p. 139 · Read in the full issue
Bulolo’S Profit Higher: Bulolo
Gold Dredging Ltd., New Guinea, almost doubled net profit to $305,900 Canadian (after providing $67,700 for tax) in the six months to November 30. In the previous corresponding period the net profit was $164,000. Dividend and interest income for the six months was $360,000.
Commonwealth New Guinea Timbers Ltd., which is owned 50 per cent, each by the Commonwealth Government and Bulolo Gold Dredging, earned £319,167 in the year to June 30, an increase of £39,689 on the previous financial year.
The directors recommend an increase in dividend of 5 per cent, (from 10 to 15).
NEW PAGO PAGO CO.: The Amerika Samoa Pishing Corp. was formally launched in Pago Pago early in January at a meeting at the home of Mr. E.
R. Meredith, who is vice-president of the company. Other office-bearers are: Mr.
Leonard Yandall (president), Mr. Mike Tuiolosega (treasurer) and Mr. Marcus Langkilde (secretary). The corporation will issue 5,000 shares at $lO each.
NEW DIRECTORS: Mr. L. E. Clayphan of Rabaul, and Mr. C. W. Batten, of Mount Hagen, have been appointed to the board of directors of Coconut Products Limited, in the W. R. Carpenter group of companies.
Mr. Clayphan is manager of Coconut Products Limited’s coconut and cocoa plantations, and of the Toboi crushing mill Mr. Batten is manager of Coconut Products Limited’s tea estates in the New Guinea Highlands.