New Plan Of Payment
p. 55 · Read in the full issue
New Guinea Planters Express Satisfaction
From Our Own Correspondent RABAUL, April 17.
GENERAL satisfaction is expressed by New Guinea planters at the success which has attended suggestions placed before the Commonwealth Government about the proposed method of payment on expropriated properties as from July 1, 1936.
The president of the Planters’ Associa tion (Mr. J. C. Mullaly) was mainly respon sible for placing lucid facts before the Treasurer of the Commonwealth, who has announced that payments will be based on a rate of £5 for every £l,OOO of principal, when copra is over £lO f.0.b., Rabaul, and an increase of £1 for every £1 rise in the copra price. Interest will commence at one per cent.
It is a sliding scale which should be able to be met by all planters without undue hardship.
Dr. and Mrs. C. Nicolas arrived in Sydney by the Laperouse on April 29 en route to France after residence in New Caledonia.