RETURNING PROSPERITY IN VICTORIA.
The Melbourne Argus considers as an indication of a healthy confidence in rural land as an investment the sale recently of the Yarrabee Park estate. This estate, which was sold by the Loan and Mercantile Agency Company, is in the Riverina district, and comprises about 47,000 acres of freehold land, suited for either agricultural or pastoral purposes. It is about equi-distant from Melbourne and Sydney, and has railway communication with both capitals. The stock consisted of about 50,000 sheep, 275 cattle, and 94 horses, and the station was equipped with all the necessary plant for its effective working. The upset price per acre was announced by the auctioneer, and at this—a sum equal to about £121,000 —the bidding started. It rose in bids of Is per acre until the property was eventually knocked down to Messrs Samuel and John M'Caughey, for £142,500. This is the first important station property which has been disposed of by auction in Melbourne for some considerable time.
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Press, Volume LIV, Issue 9835, 18 September 1897, Page 7
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166RETURNING PROSPERITY IN VICTORIA. Press, Volume LIV, Issue 9835, 18 September 1897, Page 7
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