NEW HEBRIDES.

Star (Christchurch), Issue 17181, 26 October 1923, Page 7

NEW HEBRIDES.

SHOULD AUSTRALIA BUY? PRICE OF FRENCH SOCIETY’S ASSETS. By Telegraph—Press Association—CopyrightAustralian and N.Z. Cable Arsocintion. (Received October 26, 12.5 p.m.) SYDNEY, October 26. The “ Herald ” in an article on the New Hebrides, savs that the assets of the French Society in the New Hebrides may be purchased for £200,000, including; all commercial interests hold there bv France. The Commonwealth twice previously rejected offers of £500,000 and £300,000. The third offer regarding the New Hebrides was made to Mr Bruce early in the present year. Fifty-one per cest of'the shares in the society were made available to Australia at a cost of £150,000, which meant that the market valuation oi’ the whole property was about £soo,ooo. but the offer was not entertained. The ‘ • Herald '' f adds : —The right to negotiate the sale of the society's assets, either wholly or in the main part, remains open at the reduced price of £200,000." The paper understands that the assets of the society include practically ail the commercial interests field by France in the Hebrides and proceeds to suggest whether it would not be well worth while for the Commonwealth to buy and put Britain in a powerful position to negotiate with France for the complete passage of ihe group to the British flag. After referring to the failure of the present condominium arrangement to give satisfaction, the “Herald” Kays: ‘‘ But the surrender of the French political interests in the group cannot reasonably be pressed while the dominant commercial interest remains under htc 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, the negotiations for the determining of tbo condominium iu a satisfaefcorj' wav would bo facilitated, and the Empire would then have tbo best of case* to present for the recognition of its complete control over the group.”