BULOLO GOLD DREDGING

Evening Post, Volume CXV, Issue 138, 14 June 1933, Page 14

BULOLO GOLD DREDGING

Mr. Fred G. Dunn, attorney for Clutha Development Ltd., advises receipt, of tho following report on Bulolo Gold Dredging, Ltd., New Guinea:—"The total yield for period ended May 31 from dredges Nos. 1 and 2-amounted to 12,1540z of bullion from 490,500 yards of an approximate value of 167,117 gold dollars." Bulolo Gold Dredging, Limited, also re: ports' permission to deal has been granted by the committee of the London Stock Exchange in respect of all thei-760,000 -issued shares, and the company 19 m courso of being listed also on the Montreal Stock Exchange. Shares registers and transfer unices have been established in -London and Montreal, and the shares will be transferable between the Vancouver, Loiv don, Montreal, and Sydney registers, The .shares are being introduced on the London, Montreal, and Toronto markets'.. In an announcement made by the company in the London, financial Press, it is stated that from the information at present available the directors believe that" the total number of shares to be allotted to Placer Development, Limited, in satisfaction /of (he purchase from that company .of. the. Bulowat Burntfide areas will not ' exceed. 235,000, and that.it is anticipated that from dredging the at-present proved yardage of one hundred million cubic yards there will be available for distribution to shareholders by way of .dividend and return of capital 23,250,000 'gold, dollars, and that these profits" will, protfubly be won during the next eleven years. It is further stated that it is likely that additional dredging ground will bo developed on tho company's present holdings*, thus extending the life of the operation, and it is also stated that it-is probable that towards the end of the present year payment of regular dividends will be commenced. Similar announcements arc being published•'in the Canadian Press.

Tlie Comptoir. d'Escnmpte, the bis French bank; in'its report referring to the world, crisis as "it.affected France states, that sheilas neither ■sacrificed; her currency or her commercial liberty, and the hope is expressed that she will be able to maintain her-privileged position to the end of the crisis.