§ Major BARNES asked the Prime Minister if a valuation was made of the interests of the Pacific Phosphate Company; if so, by whom; and if he will circulate a Memorandum giving the par- 1693W ticulars of the valuation before the Report stage is taken?
§ Lieut.-Colonel AMERY: No exact valuation was made, or was indeed possible, as the principal factor in the case, namely, the future price of the phosphates, which constitute the bulk of the company's assets, is necessarily conjectural. Having regard to the past profits of the company, and to their future prospects, as represented by the market value of their shares, the amount demanded for the surrender of their interests can only be regarded as moderate.