INVERCARGILL.
[By Telegraph. J (PROM 01JR OWN CORRESPONDENT.) Invercargill, January 7. Negotiations have been carried on for some months with the object of forming a syndicate, with a capital of L 150,000, to purchase all the sawmills in this district, together with certain foundries and woodwaro factories. The project was taken to Melbourne by Mr Walter Guthrie, Sir R. Stout being among the promoters. But for the collapse of the loan the scheme would have been successfully floated. Owing to the monetary pressure further negotiations had to be postponed until February. Now it would seem that the syndicate are determined to carry the arrangements through, and they have completed the purchase of ten mills of John Murdoch, the largest Southland sawmiller.
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New Zealand Mail, Issue 880, 11 January 1889, Page 20
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121INVERCARGILL. New Zealand Mail, Issue 880, 11 January 1889, Page 20
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