THE NAURU PURCHASE.
APPROVED BY THE COMPANY. By Telograph.—Press Assn.—Copyright. Received July 10, 7.50 p.m. London, July 15. Tha Pacific Phosphate Company's shareholders approved the Nauru and Ocean Islands bargain. A questioner asked why £5,500,000 was aceepted, explaining that the company gave the Government many millions, I. The chairman replied that a fair price was obtained by peaceful negotiation.. Arbitration would probably have resulted worse. The directors were guided by the most competent advice, an/1 consuited nine-tenths of the shareholders before bargaining, which represented sixteen years purchase based on the average profits of the six best years uefore the war. Thi? company voted £150,000 compensation to the directors, tmited Service.
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Taranaki Daily News, 17 July 1920, Page 5
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110THE NAURU PURCHASE. Taranaki Daily News, 17 July 1920, Page 5
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