A Big Purchase.
McABTHUR AND CO.'S BUSINESS. At 10.30 o'clock last (Thursday) night negotiations were completed for the purchase of the stock-in-trade and goodwill of the business of Messrs McArthur and Co. in New Zealand by the old-established firm of Messrs Sargood, Son. and Ewen. Mr Percy McArthur negotiated on behalf of the vendor, and Mr John Ross (of Wellington) on behalf of the purchasing firm. The transaction was a cash one, involving between £80,000 and £90,000, and is most probably the largest purchase of soft goods yet made in this colony. Delivery is to be given at once, and Sargood and Co.'s people are engaged to-day taking stock, a work which will probably take a week to complete. It is thought that the extended arrangements of Messrs Sargood, Son, and Ewen will enable that firm to undertake the increased trade necessary to absorb and dispose of the huge stock just purchased. The building has not been included in the purchase, but arrangements hax*e been made for Messrs Sargood, Son, and Ewen to temporarily retain possession until the future is determined. — Auckland Star.
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Bibliographic details
Feilding Star, Volume XV, Issue 262, 13 March 1894, Page 2
Word Count
183A Big Purchase. Feilding Star, Volume XV, Issue 262, 13 March 1894, Page 2
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