STATE INDUSTRIES.

Hokitika Guardian, 14 June 1923, Page 4

STATE INDUSTRIES.

WHOLESALE DISPOSALS. DIG INTERESTS IN THE MARKET. SYDNEY, June 1. Corporations anxious to require big induAiial undertakings as going concerns have good choice in Australia at the present time. Dockyards, bakeries timber yards, brick works; a trawling undertaking replete with boats, wharfage accommodation, shops, etc., and other concerns are all on the market with Governments are vendors. Following the election promises that private enterprise should he restored to its own. and spurred by some amazing losses—-the Commonwealth merchant shipping licet alone lest aboiu£l.oCo- - last year—the Nationalist Governments in both the State of New South Wales and the Commonwealth are seeking to divest themselves as soon as possible of all that savours of a purely business undertaking. Ihe fate of the Commonwealth Shipping Line has not vet been definitely decided upon, but the general manager of the line, who resides in Louden is now in Australia consulting with the Ministers and it is known that all that is required to promote a ready sale is a favourable offer. Unfortunately, however, the line is burdened with the c a pit d cost of numerous vessels, purchased during the war. which it would now he tin payable to run. and naturally the Government is reluctant to make what, on paper, would look like a very bad

Tim latest undertaking which the Commonwealth Government lias deiiuiiely announced its intention ol disposing ef is the extensive timber areas, including the tnills owned by the TVar f'ervicj Jinnies’ Commission in Queensland. Mr Stewart (the Commonwealth Minister for Winks) recently inspected the property, and at present the Federal Public Accounts Committee is undertaking on investigation logmibiig the transactions of the Commission. As soon as the details can bo prepared, advorliseiiionls inviting tenders for the sale of tile aieas will be published. Whether any serious loss will he experienced in reference to the Queensland trans.udi.ni of the Commission will, of lour-e. depend upon the a,m- ---< nut offered in the tenders. The price paid for the properties in Queensland was £-103.600. The areas and mills were purchased from La hey s Ltd., ami Mr W. K. Brett. The properties acquired from I.alley’s Ltd. included 10.1 I’d acres of freehold land and an up-to-date saw and planing mill with equipment at Ccnungra. The Cnmuii- -ion also acquired from the lit m another saw noil at lieiuuleserl, and joinery works and nfl'ues at South Brisbane. Mr •!. MeDnuiell. Manager „r ihe <be ui-land I’ino Co.. Yarraman, ulm inspected the properties oil behalf of the Commission, estimated t'e-ir t allies at .C'J >9.02 ; >. i. ahe.v a Ltd. originally asked £259.700 for the Duller areas and mills, hilt the pn.es eventually agreed upon was C243,fii 0. The properties acquired from Mr Bieft eompri.-ed timber areas amounting to 17.P17 acres, of which 10,271 acres v.rv freehold, and 71(50 in respect of wlii'b limber rights me held. and three saw mills. They were situated in Beam!.'-ert. ISlack hut t, Killarney end Sanil'ord.