PHOSPHATE ISLANDS

Dominion, Volume 10, Issue 3182, 5 September 1917, Page 6

PHOSPHATE ISLANDS

NEW ZEALAND INTERESTS. A question regarding the sale of German interests in phosphate deposit Pacific Islands was asked in the House of Eepresentatives yesterday by Mr. .1.Newman. He drew the attention of we* Prime Minister to the announcement of a. recent sale in London of enemy interests in phosphate areas in islands of the faoutA Seas. Theso phosphate deposits were ot great value; and had been extremely remunerative to the shareholders, returning dividends of as. much as- 255, per cent. Ho asked the Prime Minister whether, in view of the importance of having cheap fertilisers in New Zealand, if wo were to increase production greatly after tho. war, he would instruct the HipCommissioner to make inquires into tlm sale of enemy interests in those islands with a viow to the acquisition or some of them by the New Zealand Government. The sale to which 'he referred, which took place on July fi. was of i the. German interests in the Pacific Phosphates Company. He would .suggest that the Prime" Minister should inquire n-hether it was possible for the New Zealand Government to acquire a controlling interest in this company. Mr. Massey said he would be to'have the inquiries made. While in. London the 'Finance Minister-and he interviewed the Imperial authorities in regard to these islands, and impressed npon them the importance to Australia nnd New Zealand of Ocean Island and Narew Tsland. and they were given a. promise Ht»t nothing would be done "Jtfift wav of disnosins of these islands without consulting the Governments of Australia and New Zealand.