British Phosphate Commission.
p. 41 · Read in the full issue
THE report and accounts for the eleventh year, ended June 30, of the Nauru-Ocean Island phosphate busi ness, under the control of the Board of Commissioners, show that adverse weather conditions hindered shipments from Nauru and Ocean Island for several months in the earlier part of the year, and the demand for phosphate in Australia and New Zealand fell off considerably in the latter part of the year, owing to depressed trade condi tions.
Shipments for the year were: To Australia, 267,937 tons—68.19 per cent; and to New Zealand, 125,002 tons —31.81 per cent., making a total of 392,939 tons.
In addition, the Commissioners dis tributed in Australia 124,607 tons, and in New Zealand 22,935 tons of phos phate purchased from other sources.
The f.o.b. cost, as shown by the ac counts, includes a sum of £224,053, being interest at 6 per cent, upon the pur chase price paid for the business by the Governments, and contribution to a sinking fund for the redemption of the capital sum in 50 years, in accordance with Article 11 of the Agreement of July 2, 1919.