£10 SHARES ARE NOW WORTH £76: PHOSPHATE TRADE
[N.Z.r.A. SPECIAL CORRESPONDENT] (Rec. 9 a.m.) LONDON, Oct. 7. The .£ 2.750,000 paid by the Australian and New Zealand Governments for lhe purchase of the Christmas Island Phosphate Company-will be shared chiefly between two families.
They are the descendants of Sir John Murray, the naturalist and explorer, who first landed on Christmas Island, and a fellow-Scot, George Clunies Ross, who assisted him in forming the company. When it was formed, the company had a capital of £360,000 divided into £lO shares, and obtained a 99-year concession to work the island’s phosphate deposits. Today the-£lO shares are valued at £76 7s 9d each. Seven members of the Clunies Ross family are still shareholders, the largest of them being Mrs Rachel Clunies Ross, of St Margaret’s.' Middlesex, whose holding is now worth about £95,000. Three Murrays are also shareholders, the largest holding being that of Mrs Cecilia Murray, of Malmesbury, Wiltshire, who has 3286 shares, worth £253.000.
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https://paperspast.natlib.govt.nz/newspapers/GEST19481008.2.47
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Greymouth Evening Star, 8 October 1948, Page 5
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162£10 SHARES ARE NOW WORTH £76: PHOSPHATE TRADE Greymouth Evening Star, 8 October 1948, Page 5
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