A RESUMED ESTATE.
. SHAREHOLDERS ;TO DIVIDE MONEY. ; (By Telegraph—Press ■ ■■•:■.; "•"■■.., ■■'.;■■ London, June 27. : ■ The Peel River directors .state that'.; in yiow. of tho economical,and political situation.in. New South Wales,/ tho sum paid by the Government, for the' company's property cannot advantageoudy bo employed in the company's-business there.-.., ■ .. ; v' Tha dircctora therefore propose to return shareholders £2 for every £5 of stock held, and : a; bonus .of. £1' for every five .shares. These returns represent £360,000. ...;- ; ■'■■•'
iThe oiiginal Peel'Eiver estate consisted of over 300,000 uores of agricultural and dairying, and near ■■ Tamworth, mid close to tho main line of railway.. The : lands.becamovory valuable—largely., owing; :• it was claimed, -to the improvements mnecoss effected by tho State and, to .tho growth of population—nnd thoro was an agitation that tho lands.should bo cut up for closer settlement.- The Peel River Compaiiy met _this ; dnmand to the extent of subdividing about SO.OUU acres, which was leased with a right of purchase. : In .1307 tho State Govomment- served notice to resume the balance,. about. 258,000 acres, under, tho Closer Settlement Act , .] '■'■ ■ ■ .':
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Bibliographic details
Dominion, Volume 2, Issue 546, 29 June 1909, Page 5
Word Count
174A RESUMED ESTATE. Dominion, Volume 2, Issue 546, 29 June 1909, Page 5
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