Auction firms merging

Press, 26 March 1979, Page 6

Auction firms merging

Two of Christchurch’s oldest auction • companies will merge some of their business interests on April 2. George Anderson and Son, Ltd. and Smiths City Market, Ltd, will come together in a deal involving real estate and

auctioneering. The auction department of Smiths City Market will be! enlarged to include the antique and furniture-auction business of George Anderson.; This will be run at the' Smiths City Market premises at 88 Montreal Street. The auctions manager of Smiths City Market (Mr C. D.( Smith) said the merger could! result tn five auctions a week being held by Smiths City! Market. Tore? staff from Smiths City Market will join the new

firm of George Anderson ; Smith City Market. Ltd. i which will deal in real estate and hotel valuation. This will i be run from George Anderson and Son’s present premises I in Colombo Street under the I management of Mr W. W.

Anderson. Mr Anderson said that his family was delighted with the merger, which he considered an advance. He is a grandson of the late Mr J. G. Anderson, who founded George Anderson and Son 68 years ago. Mr Smith is, likewise, a grandson of the man who founded Smiths City Market in 1918 when it was known as Fanners Saleyards, a market run in Tuam Street. Mr Anderson said that the merger involved no exchange

of property. It was only a financial arrangement involving the goodwill built up in the auction business by George Anderson and Son.