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NEW HEBRIDES

OFFER TO AUSTRALIA FRENCH SOCIETY’S INTERESTS FOR- SALE AT £200,600. ACCEPTANCE URGED. By Telegraph—Press Assn. —Copyright. Australian and N.Z. Table Association. SYDNEY’, October 26. The “Sydney Morning Herald,” in an article on the New Hebrides, says that all tho assets of the French Society in the New Hebrides may be purchased for £200,000, including all the commercial interests held there by France. The Commonwealth has already rejected offers of £500,000 and £300',000. Tho “Herald” says that a third offer for the New Hebrides was made to the Prime Minister (Mr Stanley Bruce) early in the present year. Fifty-one per cent, of the shares in the society were made available for Australia at a cost of £150,000, which meant that the market valuation of tho whole property was about £300,000. The offer, which was not entertained, gave the added right to negotiate the sale of the society’s interests either wholly or in the main part. The offer was to remain open at the reduced price of £200,000 for the whole. FULL CONTROL LATER. The “Herald” understands that the assets of the society include practically all the commercial interests held by France in the New Hebrides, and proceeds to suggest whether it would not be well worth while for the Commonwealth to buy, and thus put Britain in a powerful position to negotiate with France for the complete passage of the group to the British flag. After referring to the failure of the present condominium arrangement to give satisfaction, the “Herald” saysT: “But the surrender of French political interests in the group cannot reasonably be pressed while the dominant commercial interest remains under the French flag, nor can Australia entertain the idea of allowing the Union Jack to be eliminated from the group. If the assets of - the society were to pass to British ownership, negotiations for determination of the condominium in a satisfactory way would) be facilitated, and the Empire would then have the best of cases to present for recognition of its complete control ovei the group.”

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https://paperspast.natlib.govt.nz/newspapers/NZTIM19231027.2.65

Bibliographic details

New Zealand Times, Volume L, Issue 11661, 27 October 1923, Page 6

Word Count
339

NEW HEBRIDES New Zealand Times, Volume L, Issue 11661, 27 October 1923, Page 6

NEW HEBRIDES New Zealand Times, Volume L, Issue 11661, 27 October 1923, Page 6