Big Purchase By STC
p. 149 · Read in the full issue
STC In Moresby
\ T the end of April, the big \ Papuan corporation. Steamships Trading Co. Ltd., purchased, or a sum between £150,000 and 200,000, the large general stores of I. G. Smith and Co. Ltd., in Douglas Itreet, Port Moresby, and of J. /yatt Ltd., in Hunter Street.
The deal, effective as from ugust 1, includes some branch ;ores and bakeries in the Moresby rea. The effect of it is that the “tail and general distributing busi ess of that district (Central Papua) ow will be almost wholly in the ands of the two big corporations, urns Philp (New Guinea) Ltd. and teamships Trading Co. Ltd., and le young, but expanding general XDre of E. E. Kriewaldt Ltd. It Iso gives STC a complete monopoly f the bakery business in Moresby.