Planting Co. Selling
p. 11 · Read in the full issue
BSI Properties
11HE plantations of the Solomon Islands . Development Co. Ltd. (controlled by Burns Philp and Co. Ltd.), are being sold with the ultimate purpose of winding up the company.
Tenders for the plantations were called early in the year and closed on April 30.
The plantations (all in BSD are: Neal Island, together with a small plantation on the mainland (Guadalcanal); Teti pari (Montgomery Island); Manning Straits; and Lutee (Choiseul).
The Solomon Islands Development Co.
Ltd. was formed in March. 1908. but the enterprise has been subjected to all the headaches general to copra planting in the British Solomons.
After a few years of comparative pros perity during World War I and the early 20’s, came a fall in prices due to competi tion with other vegetable oils, and then the depression of the 30’s, when world price of copra was less than the cost of producing it. In the early years of World War II there was no shipping available to lift Pacific copra and in 1942 the Japs entered the war and overwhelmed the Solomons and its plantations.
Unlike planters in other South Pacific territories, planting interests in the Solo mons have been unable to take advantage of the post-war boom in copra—firstly because there was no adequate Govern ment scheme to assist in rehabilitating planters and their plantations and (as yet), no war damage compensation as enjoyed by planting interests in Papua and New Guinea; secondly, because the Solomons, for the first two post-war years, were left virtually without shipping of any kind, and even at this date, inter island communications are difficult; and thirdly, and as a direct result of the war, the reluctance of the local natives to engage in regular labour.
But, on the other side of the ledger, it is probable that the of BSl’s plant ing troubles are over, in that the Protec torate has now a copra agreement with the British Ministry of Food whereby the price is guaranteed for the next nine years; also, the labour position appears to be easing.
There still is no indication that plan tation owners will receive war damage compensation from the British Govern ment. It was made clear, some time ago, that this compensation hinged on reparations from Japan, to be paid to Britain and these do not appear to be materialising.
In any event, war damage compensa tion would not assist the purchasers of the four Solomon Islands Development Co. plantations—the company has made it a condition of sale that any future pay ment of war damage claims will accrue to the company.