NAURU MANDATE.
CONVENTION CONCLUDED
(Received July 4, 3 p.m.) PARIS, June 28
The Nauru Convention has been concluded. Britain and Australia will each receive 42 per cent, of the output, and Now Zealand 16 peiv cent. The cost of buying out the British interests in the Pacific Phosphate Company, estimated at £3,000,000, will be borne by. the three countries, on the basis pf the output percentages. The Convention is subject to review every five years afterwards, by three Commissioners representing the contracting parties. In the event of any one Government not taking a full allottment of the output, the balancecan bo disposed of in proportion to the requirements of the other two contracting parties. Further, if all the requirements are met and a surplus remains, this can be sold at a price to be fixed •
'. The only fly in the ointment is the necessity of buying out the British interests in the Pacific Phosphate Company. The' German interests were bought out during the war for £575,000. The company holds little which the >yar did not invalidate.»
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Ashburton Guardian, Volume XXXIX, Issue 9649, 4 July 1919, Page 5
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176NAURU MANDATE. Ashburton Guardian, Volume XXXIX, Issue 9649, 4 July 1919, Page 5
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