NEW GUINEA DEVELOPMENT.

Grey River Argus, 26 June 1922, Page 4

NEW GUINEA DEVELOPMENT.

LONDON. June 24. A meeting of ordinary and preference shareholders of British \rw Guinea Development Co. approved of proposals to wind up involuntarily and form a new r company with a capital of £875,000. The direeiors pointed out that unless this scheme or some reasonable alternative is adopted, debenture holders would be compelled to appoint a receiver, iu which event it was to be feared that shareholders’ interests would bo entirely extinguished.