PHOSPHATE SUPPLY

Temuka Leader, Issue 10362, 7 September 1922, Page 3

PHOSPHATE SUPPLY

NEW ZEALAND’S GOOD ASSET

WELLINGTON, Sept. 5

“1 make the prediction that in two or three years the Dominion Avill use. not less than 100,000 tons of Nauru and Ocean Island phosphates,” said the Prime Minister this afternoon, in commenting on the annual report of Nauru administration. He had risen in reply to some criticism by Mr Holland on the administration of the islands, and denied a suggestion that the Dominion’s share of the output avus restricted to Hi per cent. Although that avhs our share in the apportionment of the output betAveen the United Kingdom, Australia and Ntnv Zealand, il was provided that iu the event of any of the countries not taking its allotted share, others could claim it. ”1 believe,” he said, "that we will require a great deal more than 10 per cent, in a year or two.”

;Mv Young: Provided the other countries don’t take their quota. Mr Sykes: The price will haA-e to come doAvn.

;\lr Massey continued that Britain was taking only a small quantity, and hr thought some would ho available for the other two countries, lie showed how the demand for Nauru phosphates had increased, and how Makatea Island was drawn on to a less extent since the fanners of New Zealand had been educated up to tiie properties of the output of the island in which we were interested.

Sir John Luke: Will wo Ret any return on (bo £600,000 invested? Mr Massey; It is a splendid investment. J believe our share is worth a million. 1 don’t say Unit if we put it on the market it would bring that, hut in years to come it will. Geologists tell us that there is sufficient rock there to last two hundred years,