THE Waihi Daily Telegraph WITH WHICH IS INCORPORATED THE WAIHI MINER FRIDAY, SEPTEMBER 22, 1905

Waihi Daily Telegraph, Volume V, Issue 1437, 22 September 1905, Page 2

THE Waihi Daily Telegraph WITH WHICH IS INCORPORATED THE WAIHI MINER

FRIDAY, SEPTEMBER 22, 1905

heronlnll the (tow tho Foo|ilo'a Right raaintain Unawed by mHnouoo and unbribcd by gulii i ; Hn'or» ! riot Truth 'lO ,-i "'iniis preu,ipts di»» J Pledired to Roliiinn T.lbart?. mi L»w /

A VENTURE that will no doubt occasion varied anticipations isabout to be launched und«r the auspices of some of the South Sea missionaries. It has hitherto been the custom for the missionary and the trade in the South Snas to carry on their operations separately, but as far as concerns New Guinea the order of things will shortly be changed, A company known as " The Papuan Industries, Limited," has been regis, tered in England, with a capital of £50,000 in £1 shares, which aimß at the moral and spiritual uplifting of the natives of New Guinea by stimulating them to mako efforts for their own improvement through the medium of industrial pursuits. It s prime mover, P. W. Walker, was a missionary for eight .yearn in New

Guinea, in connection with the London Missionary 'Society, and for another six year was a trader. The company has been formed as a trading company, with a dividend restricted by the articles of association to a per cent, The promoters say it has been formed, not for profit, but for the benefit of the natives—to teach them to develop the resources of the country in their own interests. Of onr authorised capital of £50,000, we have offered £25,000 worth ol shares in England, and oyer £20,000 has been subscribed, It is intended to offer a similar amount in Aus- ' tralia. As the Commonwealth Government is about to consider a Papua Enabling Bill to take over, New Guinea, they consider the time is opportune to develop the country on Oliriitian lines, by, as the promoters . state," establishing small plantations that' will act as models for the natives, and serve as trading centres. A native will thus be led to imitate us, and to form plantations of hi* own, as he could easily dispose of his produce at our centres. The whole of our profits, after paying a

5 per cent dividend, and forming a necessary reserve fund, will be apportioned to the social advancement of the natives. This will be done by supplying them with education nnd literature, and encouraging wholesome recreation and music. ■Our efforts are designed to be supplementary to those of the Loudon Missionary Society, and not to sup* plant thorn. The surplus funds will be mainly devoted to the many things which are very necessary, but upon which the Londoi Missionary Society has not liberty to spend its money. The company aims at helping the natives to fulfil their destiny by developing the resources of the country, 1 and by filling a useful place in the civilised world." Mr Walket has resigned his position'in the London Missionary Society, and has been appointed managing director of the; company, being bound for a period of ten years at the same salary and allowances as he received as a missionary of the London Mission, arp Society. From the present lime until next March ho expects to devote his time to visiting the various States of Australia to develop interest and obtain support.