Page 8 Advertisements Column 4

Dominion, Volume 3, Issue 747, 21 February 1910, Page 8

. After the sixth year the profits should increase--by ■a : minimum' of: per annuin 1 until' the' whole area proposed: to he planted with, .rubber - (provisionally fixed at 10,000 acres) is'in full bearing. i Tho 'cultivation •of coconut, trees .for the production of copra '(the raw'' material from which coconut-oil is - manufactured) should"also be proceeded with, -thus-.pro-viding. a further 1 considerable source of revenue aftor the sixth year from planting- -- i ' f ': To those unacquainted, with the extraordinary fertility of . these, lands-.these estimates- may appear high; but' - it, ; will be observed., that -in every; instance, my estimate is' considerably "boldw those of the: experts employed 1 to report'.uppn the properties,'.arid• who .for• many-years, hava' been; engaged -in' official', positions con-nected'.-siith tropical ' agriculture/'. •. Tho;initial co?t", or clearing and .planting (mclu'siye 'of .'seeds- 'and plants) : «.J. estimaito at.' an; average of. £5 75. ; , 6d. per hero in the, Dry Belt and M 10s';. per acre ,V.'.the Be]tj'.'theso"figiires' bejng based :on the -assumption' that' tiur own labour will bo employed.' Contracts were actually vOffered'v.to r me ./when -in Papua i-l'or clciring and planting,, (exclusive . of i seeds and'plants) at'-the rate 'of.' .£4 10?. I per' 'lic'ro for .the Dry'• Belt "and £6 for the Wet. Belt.: In-a'dditjou' to; this ox,ponditure, 'however; .'it. will be necessary before the above'profits 'can, be,' earned to provide mills, wharves, warehouses, housing accommodation,', offices, < and means -of.- transport. ' These -facilities should bo conceived in a-liberal ■ spirit with. a ..view ,to' tho, .vast., possibilities iof the country, and-'the total cost qf them ■"I'll therefore, l)p considerable; -They will; however, .provido for the output'of a' larger. - area than' that' under consideration and . for dealing -with the' products obtained ■ from .other :■ planters ; and ..set T tiers.' In my jndgment. a fair proportion of this:expenditure to 1)0 allocated to tho .area' now-under "consideration for" tho -purpose of' this- 'estimate: is; JBIIO.OOO. ';' The" above profits-'are-subject' to : man-, agement and standing, charges. in ' Papua;' Australia," and-'London.' - ......... CHARLES A. DARLING.' 1 / The above estimate of profits is based upon . the. "cultivation" of ' a • portion • ohly. of-. the .Company's estates,' and no . account .' is. taken '.of the • profits', to lie . do-' rived from . selling, 'leasing,' ''or cultivating, the Company-s' other-.ian'ds, marketing the timber on the' lands-proposed to be acquired, and utilising the Company's resources -la the development of-a : rich and practically virgin ..territory. ■ MIXING. , It> is believed' that - the mineral; wealth' ot Papua in gold, silver,. copper,arid other' metals is:'considerable. 'It'is.pro-' pOMd, however,;to'concentrate' the enery pes;of'the .Company upoii - tropical ngrii. cultureiand the 'general business'and-de- , veloptaerit' wort above Referred to leav- . ing the mineral exploitation of tho couii- ; try to'another company j (Papuan Minerals Exploration,. Limited), which has been formed' for' this. specific purpose.. Under' : an-agreement between" the 1 Vendor Company. and Papuan Minerals': Exploration,, Limited," the : .'Vehdor ".Company... has agreed to.. transfer certain * rights • and render certain servicesto: Papuan. Minerals Exploration,: Limited,! and-ni":con-sideration .thereof 20 per cent, of the .net'profits'of the latter: Company available : for distribution' will" be; payable 'to this • Company. . . ! -PURCHASE .CONSIDERATION.. ' - The Vendor Company (Papuan Lands, . Limited) is receiving from this Company by-way ofi purchase consideration,.,a total sum 'or but of. this suln 000 only is payable in cash, and the balance is to be satisfied by the allotment to the Vendor Company or its nominee's of 223,000 Ordinary shares "of il each, which only rank.for dividend. after; 7 per cent, has been paid .'upon the Par- r ticipating Preference shares now ; offered • for subscription. Under Agreements men-tioned-below,'., the Vendor - Company .is acquiring the leases- to be sold to this | Company for a' 1 , total consideration of ■£68,050,- of''which is-payable ; in cash/atad ,£66)250. in -Ordinary shares of this Company. In addition to the lands , in respect •of .which a consideration of ! U!68,050 is payable to the original -Ven- ; -dors,''the .Vendor Company has itself :ac- ! quirea-and is-transferring .leases to: the extent. 1 of'.''lo,ooo acres, and'has incurred considerable .expenses in .regard'. to ; the. Expedition, negotiations ' and cognate matters. ' ' ■' ; '• " ' INFORMATION . COMPLYING . WITH COMPANIES ACT. ' ■ The following information is 'furnished in complihnce with " the provision's of the Companies (Consolidation) Act,'l9oß, Section'Bl':— '• - The contents of the Memorandum of Association, with the names," descriptions, and- addresses ; of the-signatories and' the number of-shares subscribed foi 1 by them respectively, 'are printed 'in the fold of tho -Prospectus' and form part 5 thereof. There are no Founders' or Management or Deferred "Shares."" The Articles .dealing with' qualification -and remim-; eratioh of Directors are-as.'follow:— ' 88. The ■, qualification 1 of . a ■ Director other than a first' Director and. any local Director'in Australia, shall he the holding in his own' right and as sole holder of Shares' or Stock ;in the Company ofthe nominal value of £poo. A Director may act before. acquiring his qnalitication, but, shall , in'any case-acquire tile same within' -one- month ' from', his appointment,., and''unless 'he shall ;do sohe'''shall "'be deemed to,, have agreed ''to v take', the',said Shares from'the Goriipany,' and tho same shall ' be', forthwith allotted to him accordingly. • ' '.. - , .'' 59. Tho fixoil. remuneration', of. the 'Directors .shaU' be: the : 6Um.'of:.'iC3(l(lo ' per