REID MURRAY

Press, Volume XCVIII, Issue 28888, 7 May 1959, Page 25

REID MURRAY

Interest In £37m Satellite Town

Reid Murray Holdings, Ltd., has a substantial interest, through a subsidiary, in a £37m satellite town planned to be built 21 miles from Melbourne.

The new town will rise on the fringe of Sunbury, north-west of Melbourne. The planners intend to develop the town over 12 years until it has 10.500 houses, and a population of 42.000. Paynes Properties Pty., Ltd., a subsidiary of Reid Murray Holdings, Ltd., has bought about 2500 acres adjoining the present Sunbury township. This land, on the west side of the town, will be developed in six sections on modern townplanning lines. The company plans to build 500 houses a year for the first two years, then 1000 a year. It is creating its own organisation to make roads and provide drainage. All lots will have water and electricity. Shopping Centre The first section of the new town will include a complete shopping centre. The land the company bought included several properties of about 500 acres. One of these was the famous' Kismet stud farm. “Already investors are offering £2OO an acre for land near Payne’s properties,” the Melbourne “Herald” reports.

SALE OF MORTS DOCK ASSETS

Part of the assets of Mort's Dock and Engineering Co., Ltd., Sydney, has been sold to two shipping companies. The portion sold comprises the slipway, boiler shop and two jetties of Chapman’s dock.

The liquidators of the Mort’s Dock company, B. O. Smith and Son, chartered accountants, announced the sale in Sydney. The Adelaide Steamship Co.. Ltd., in conjunction with J. Fenwick and Co. Pty., Ltd., tug owners, have bought the property. It had not been possible to sell the dock as a going concern. The dock, which is big enough to accommodate vessels about the size of a Manly ferry, will be sold for scrap metal. An executive of the Adelaide Steamship Co., said in Sydney that the two companies would form a new company to be known as the Sydney Slipway and Engineering Co. Pty., Ltd. The two companies both operate tugs in Sydney. Newcastle, and Port Kembla and will use the slipway and buildings for tugs and other small craft.

A.P.M.—Australian Paper Manufacturers, Ltd., will spend £1.5 million doubling the capacity of the mill at Petrie, near Brisbane. The project is planned for completion in 1961. Present capacity at Petrie is 25.000 tons a year of container materials and general type box boards. The A.P.M. Petrie mill produced its first board in August, 1957.—Brisbane, May 6.

SMITHFIELD MARKET

Elves Cheaper, Lamb Steady

New Zealand ewes eased id to •id per lb at Smithfield Market during the last week, according to the Imported Meat Trade Association’s weekly price list. Lamb and wethers were steady. Argentine and Australian beef met a good demand and prices were up to lid per lb higher than the previous week.

Prices for New Zealand meat (ex hooks. Smithfield, for frozen meat: delivered to Smithfield for chilled beef) in the week ended May 5 with the variation since the previ-

WOOL VALUES IN AUSTRALIA

Rise Maintained

(N.Z. Press Association—Copyright) (Rec. 11.30 p.m.) MELBOURNE, May 6

Wool prices remained at their recent higher levels in wool sales in both Melbourne and Perth today.

In Perth, where the market opened on Monday up to 25 per cent, above the last Perth sales closing rates in March, keen and widespread competition maintained the values which have moved slightly in the sellers’ favour since the opening. The Western Australian Wool Produce Brokers’ Association said that 99 per cent, of the offering of 11.800 bales had been cleared. Britain showed more interest on the closing day than earlier in the sale. Tn Melbourne. 13.100 bales wore offered and the Woolbrokers’ Association reported that 99 per cent, were cleared. Values were fully firm on yesterday’s rates for all types and good Merino wools were keenly sought. The chief buyers were Eastern Europe. Japan, the United Kingdom and the Continent with good support from local mills.

Crossbred prices were:— Good to average, 60/64’s, 68d; good to super 56’5,» 68d; good to average, 50’s, 62d.

Building Sections Sold.— Ten building sections in Memorial avenue and Grahams road were sold at auction for prices ranging from £9OO to £lO6O, on account of Mr Robert McPherson. The areas of the sections were between 24 and 38 perches. There were about 50 persons present at the auction. «

ous week, were as follows:— Sheep Var’n d.per lb d. per lb Crossbred Wethers. Maiden Ewes— Under 481b .. 14 N.C. 49-56Jb .. ..12 N.C. 57-64lb .. .. IQ'b N.C. 65-721b .. .. 9!a N.C. Ewes— Under 481b .. 10 —1 49-5611? .. .. 81-9 —A 57-641 b .. .. «’ — > 65-721 b .. .. 7 — Canterbury Lamb First Quality: Under 281b .. 214-22 N.C. 29-361b .. 21-211 N.C. 37-421b .. 20-20-1 N.C. 43-501b .. 191 +1 Seconds— Under 281b .. 20-201 N.C. 29-2611) .. 20 N.C.