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Newspaper
Longreach Leader
Location
Longreach, Queensland, Australia
Date
Dec 05, 1952
Page
4
Queensland faces rapid development with 21 000 miles of Main Roads. The 16th Security Loan funds road expansion and maintenance including highways developmental and mining areas. In 1951 52 the department completed 674 miles of road work financed by the Main Roads Fund.
Mr. D. A Crawford of Mein Roads Co Queensland urges a sustained road building programme. He notes progress in 30 years but continues work especially in western and northern roadless areas, praising plans and previewing the department’s 16th Security Loan.
Queensland outlines a broad plan for growth funded by loan money. The list stresses demand for more power food water hospitals schools homes and transport facilities to accommodate population growth and industrial development. It notes current underuse of agricultural land and the need for maternity clinics and welfare services.
The 16th Security Loan presents nine year bonds and inscribed stock bearing 44 percent per annum with 2 percent income tax rebate. The 20 million offering funds public works and services. Denominations include 10, 50, 400, 2500 and 1000 pounds with a minimum of 1 pound of inscribed stock. Subscriptions may be deposited 10 percent with staggered payments due January to March 1953. Repayment secured by Commonwealth Government guarantee. Applications accepted at banks savings banks money orders post offices or licensed brokers.
A special meeting on Boxing Day approved a one day program replacing two days. Delegates debated distance limits from four furlongs to five and to close nominations by December 15 while noting retained entries and revised race classes. Attendees included Edking and secretary P B O Rourke with apologies from others.
After rain, the Southern sheep market shows a slow revival with buyers mostly from the district. Prices remain high and inquiries target young wethers, but many sales are depressed by costs and trucking prices from Longreach and Dalby.
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