NAURU ISLAND

Dominion, Volume 12, Issue 241, 5 July 1919, Page 7

NAURU ISLAND

CONVENTION CONCLUDED ALLOTMENT OF PHOSPHATES ' OUTPUT By Telegraph—Press AssoclatioM-CopyriEht Paris, Juno 2S. The Convention dealing with Nauru has teen concluded. Britain anil Australia, will receive each 42 per cent, uf the output of phosphates and New Zealand 10 per cent. The cost of buying out the British interests in the Pacific Phosphate Company is estimated at .€3,000,000. anil will be borne by the three countries on the basis of the output percentage they receive. The Convention is subject lo review every live year.- - . . Australia will administer the. island for (lie first live years, and afterwards it will be governed by three commissioners representing the contracting parties. If anv one Govern, ment does not take its full allotment of the output, the balance can be disposed of in proportion to the requirements of the other two contracting parlies. Further, if all requirements are met and a surplus remains, this can be sold at a price to be fixed. The only fly in the ointment is the necessity for buying out the British interests of the Pacific Phosphate Company. The German 'interests were bought out during the war for .t'575.000. nnd the company now holds little which the war did not invalidate.—Aus.-N.Z. Cable Assn. MR. HUGHEsIeFHSES TO SIGN PRINCIPLE OF COMPENSATION (INJECTED TO. London, June 26. Mr. Hughes refused to sign the Nauru agreenieut. claiming that Australia does not agree with the principle of compensation of the coninnny on ihe basis of war value?. New Zealand's share of thecompensation will be about .£OO.OOO and Australia's .£1.000.001). The . company charged £2 per ton for its pliosphates during the war, and expects that the. price will be maintained.—Aus.-N.Z.