Planters

Not For N. Guinea

Stabilisation Fund, £830,000, To be Maintained

ALL Papua-New Guinea planting in terests examined, with lively com ments, the announcement in the Papua-New Guinea Gazette of October 26, which showed that, on June 30, 1950, the Copra Stabiliation Fund of Papua- New Guinea amounted to £830,961.

The fund was established in its present form in 1946-47, when it received £35,240 from the Production Control Board, and by June 30, 1947, it was £38,274. After that, it grew in this way:

Many people had thought that this fund might now be distributed among the planters whose earnings created it.

The Canberra authorities have no such intention. The fund will be kept intact, —although the amount of the levy may be reduced.

A committee on which planters will have representation will be set up to supervise the fund. It is hoped that Canberra will give some indication of when and how the fund will be used for market stabilisation.

The fund, held in Commonwealth In scribed Stock, is now earning over £20,000 per annum in interest.

There may be a windfall, however, for planters in the accumulated profits of the Production Control Board, now reported to be over a quarter-million. Canberra says it intends to distribute these to pro ducers, in some way. Some day, perhaps, Canberra will explain how and when it will make the distribution.

Levy Interest Total £ £ £ June 30, 1948 .. 98,375 923 99.298 June 30, 1949 . . 375,091 5,090 380,182 June 30, 1950 .. 297,359 15,846 313,206 Totals 773,860 21,860 830,961