THE PHOSPHATE ISLANDS.
COMPANY SHAREHOLDERS APPROVE PURCHASE.
A QUESTIONER’S COMPLAINT.
(Received Julv 16. 7.50 p.m.) LONDON. Julv 15
The Pacific phosphate shareholders have approved the Nauru and Ocean Island bargain. A questioner asked why £3,500,000 was accepted, complaining that the company gave the Government- many millions. The chairman renlied that a fair price had been obtained by peaceful, negotiation. Arbitration would probably' have resulted worse. The directors were guided by the most competent advice and had consulted ninetenths of the shareholders before making a bargain based on the average profits or the six best years before the war.
The company voted £150.000 compensation to the directors.—United Service.
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Bibliographic details
Gisborne Times, Volume LIII, Issue 5536, 17 July 1920, Page 5
Word Count
107THE PHOSPHATE ISLANDS. Gisborne Times, Volume LIII, Issue 5536, 17 July 1920, Page 5
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