EMPIRE EXHIBITION.

Otago Daily Times, Issue 18899, 27 June 1923, Page 4

EMPIRE EXHIBITION.

THE DOMINION'S’ AGREEMENT. SIR JAMES ALLEN’S FIRM STAND. DIVISION OF THE PROFITS. (From Odh Own Correspondent.) LONDON, May 18. To-morrow, Sir James Allen informs me, the agreement between the Empire Exhibition authorities- and the dominions will probably be signed. Owing to the High Commissioner’s firmness in _ regard to the division of profits, negotiations have been somewhat'protracted. But Sir James advised all dominion representatives not to sign any contracts for the erection of buildings until the agreement had been drawn up definitely and satisfactorily. With the exception of the representative for India all fell into line in this respect. It will bo remembered that the Exhibition authorities offered 50 per cent, of the profits to the dominions without taking into consideration the assets. This was not definite enough, and Sir James has pursued the subject assiduously until now ho seems to have done exceedingly, well for the dominions. The first suggestion was that the value of the standing buildings should be taken into account when assessing the profits, and while the British section should take the buildings and property, the dominions should have the cash. Against this there was a promise given by the Exhibition promoters that certain associations should receive 50 per cent, of money that was received for space. It is now decided that before any cash is made- available, if there is any cash remaining, the dominions and dependencies all receive the amount they have expended for “common service.” This includes the drainage, water, electricity, and gas connections between the mains and the buildings. There are other “common services” which have not yet been defined, such as upkeep of gardens and outside lighting, and further investigation will be made regarding these. CASH DIVISION. After the necessary amounts for those services have been allotted, tire dominions and the British section share equally, the latter liquidating their responsibilities to the various associations with whom they have entered into an agreement up to a maximum of £250,000. _ That is to say, if there is £200,000 available, the dominions will get £IOO,OOO and the British £IOO,OOO, the latter amount going to liquidate the responsibilities. If there is £500,000 available, each will get £250,000, but if there is more both parties will still get only the £230,000 at this stage. If there is any cash still available after this stage is readied it will go to the dominions up to a maximum of £400,000, and any exceeding this £403,000 will be retained by the Homo authorities. Thus it will be seen that the dominions have been amply protected. The agreement was drafted by Sir James Allen and Sir James Stevenson. It was then taken in hand by the legal advisers, and, according to word received, it will bo in the hands of the High Commissioner immediately.