NEWSPAPER BUSINESS SOLD BY AUCTION
“CLUTHA LEADER” CHANGES HANDS f Dominion Special Service. Duneflin, August 5. A good deal of interest was taken in the sale of the “Clutha Leader” newspaper and publishing business (with which that of the “Free Press” was consolidated about three years ago), at the Clutha Auction Rooms today, and the attendance of the public was fairly large. Bidding started at £4OOO, and was continued by at first £lOO and then £5O bids to £6BOO, when the property was knocked down to the representative of a local syndicate. Three parties made bids for the property, the representative of a Dunedin syndicate stopping at £6500, and Mr. A. E. Russell (one of the present proprietary) at £6750. The purchasers Include several of the leading business men of Balclutha and two prominent Kaitangata residents. Possession is to be given at the end of August. The vendors retain the book debts, but it is generally conceded that considering the value of the freehold and the plant the price paid by the syndicate was quite reasonable.
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Bibliographic details
Dominion, Volume 22, Issue 266, 6 August 1929, Page 8
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176NEWSPAPER BUSINESS SOLD BY AUCTION Dominion, Volume 22, Issue 266, 6 August 1929, Page 8
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