La Lulonga S.A.
The S.A. La Lulonga was created on October 22, 1898 with a capital of 300,000 francs represented by 6,000 shares of 50 francs each; in addition, 6,000 shares of no par value were created.
The head office was established in Brussels.
The capital was subscribed by 19 participants:
Messrs. Camille Bourlet, 30 shares; Edmond Paret, 1,000 shares; Louis Deridder, 1,600 shares; Henri Masson, 1,310 shares; Emile Paret, 200 shares; Florent Mouton, 400 shares; Gustave Dumontier, 1. 200 shares; Francis Rodbergh, 140 shares; Alex Bidart, 150 shares; Louis Çriquillion, 10 shares; Henri Bayer, 250 shares; Gustave Dryepondt, 20 shares; Eugène Beirlaen, 60 shares; Oscar De Clercq, 200 shares; Max Hemeleers, 100 shares; Paul Jacobs, 200 shares; Joseph Straelen, 20 shares; Julien Svrevers, 90 shares.
The capital was paid up by 50% at the incorporation and a sum of 150,000 francs was put at the disposal of the new company.
The remaining 4,800 dividend shares were distributed among the subscribers of the capital shares in proportion to their subscription (33-(04-11-1898)-4207).
Mr. Camille Bourlet, candidate notary, and Mr. A.-D.-N. Mélins, engineer in Brussels, contributed their work and approaches; negotiations with the State of Congo to obtain an option on a 2,000-hectare plot of land located between the Congo River and the Lulonga River, at the level of Nouvelle-Anvers; their special knowledge; all this in exchange for 1,200 shares of jouissance (21-(1899 T1)-100).
Board of Directors
Messrs. Edmond Paret, Louis Deridder, Gustave Dryepondt, Emile Paret, Henri Masson, Max Hemeleers.
Messrs.. Gustave Dumontier, Eugène Beirlaen, Camille Bourlet, A.-D.-N. Mélins (21-(1899 T1)-100).
The cultivation and exploitation in the Congo of any kind of vegetable products such as tobacco, coffee, cocoa, rubber ; it can create any industrial establishment (21-(1899 T1)-100).
Modification du capital, évènement(s), participation(s), dividende(s), cotation
1899 - On August 30, the capital was increased to 1 million francs by the creation of 14,000 new 50-franc shares put up for subscription on September 19, 1899 at a price of 75 francs. The issue premium was reduced to 10 francs instead of 25 francs on the 7,000 shares placed, i.e. 70,000 francs, which covered the general expenses (21-(1901 T1)-83).
1900 - The remaining 7,000 shares were placed at a premium of 10 francs, which contributed to the major part of the dividend distributed, the rest coming from the products in store. The Company had a portfolio with 150 shares of Compagnie du Barito, 1,000 shares of West African C°, 49 shares and 50 dividend shares of Produits du Mayumbe, 50 shares and 50 dividend shares of Agricole de Sebikhotane, 50 shares and 50 dividend shares of Horticole Coloniale, 200 ordinary shares of West African (21-(1901 T1)-83).
1901 - This fiscal year closed with a loss of more than 270,000 francs, of which 100,000 francs were operating expenses, 160,000 francs loss on missing goods and 24,000 francs loss on portfolio. Production in 1901 was 22 1/2 tons of rubber and 4 1/2 tons of ivory. Posts were established at Boieka and Bakakata; a concession granted at Stanley Falls was withdrawn by the State (21-(1902 T1)-737/38).
1902 to 1904 - The years 1902/1903 saw an increase in profit to bring the loss to less than 70,000 francs, but the year 1904 increased the loss to more than 245,000 francs. Production in 1903 was 44 tons of rubber, 36 tons of copal, 1,076 kg of ivory. For 1904, the maneuvers of the English agents and the presence of the Commission of Inquiry caused the harvest to drop to 25 tons of rubber, 27 tons of copal and 871 kg. of ivory (21-(1906 T1)-666).
1905 - The situation remained bad. It depended on the State to restore a normal situation (21-(1906 T1)-666).
1906 - The harvest in 1906 was 10 tons of rubber, 1 ton of ivory and 13 tons of copal. The Company took a 16 ½% interest in the Ikelemba joint venture (Commerce du Haut-Congo, Equatoriale, Ikelemba, Lulonga) which was to operate for the 4 Companies (21-(1908 T1)-1297).
1907 - The report of the Société du Haut-Congo mentioned that the Ikelemba region was not suitable for rubber harvesting, but that a harvest of 70 tons of copal could cover the Association's expenses; the Association had lost 60,000 francs; the Lulonga administration felt that rubber harvesting could be resumed when prices improved; in the meantime, it proposed to trade on the river by means of its sternwheel (21-(1911 T1)-60).
On December 31, 1907, the first price of the capital and profit share was 12 and 22 francs respectively (21-(1909 T1)-837).
The Ikelemba Syndicate lost 95,000 francs in 1908 and was dissolved in April 1909 (21-(1911 T1)-60)
Figures of the financial results
Dissolution and liquidation
On April 21, 1909 the company was dissolved and put into liquidation, four liquidators were appointed. The liquidation was closed on July 29, 1910 (33-(12-05-1909)-3088).
The 1910 Ikelemba report mentions that Lulonga was absorbed by Equatoriale Congolaise (21-(1911 T1)-60).
In 1910, the liquidators of Lulonga distributed 3 francs and 10.80 francs in August 1910 as a balance (21-(1911 T1)-60).