Development

In New Caledonia

Immigration From

France Likely

From Out Own Correspondent

Noumea, Sept. 3.

UNDER the stimulus of loan money from France, a policy of vigor ous development is expected in New Caledonia. Although all primary industries are depressed, the nickel in dustry is very busy and the mines are working full time.

As part of the large loan to New Caledonia by the French Government, 3,092 bonds, each of 1,000 francs, have been made available for subscription in New Caledonia and New Hebrides.

The Loan, which is guaranteed by the French Government, is for a term of 50 years, and carries interest at the rate of 4 per cent, free of all taxation, reissue price in Noumea is frs. 991 80.

The Governor (M. Guyon) has dis cussed with the Chamber of Agricul ture the proposal to increase popula te and production by the settlement on small blocks of New Caledonians and immigrants from France.

The Chamber of Agriculture has ap proved of the proposal generally and it now remains to estimate the finan cial requirements of the scheme and make application therefor to the Paris authorities.