The Argus Saturday, May 25, 1929, page 28Perhaps due to the Depression, things moved slowly and in June 1938 I found another reference from The Argus regarding the war memorial, see below.
The Argus Wednesday, June 8, 1938, page 14The Memorial was erected in June 1939, as another article in The Argus reported, see below.
The Argus Saturday, June 10, 1939, page 4
The Memorial was officially unveiled on August 27, 1939, ironically only about a week before Australia was once more at War, as it was on September 3 that the Prime Minister, Robert Menzies, announced we were at war with Germany. The picture, above, is from the Cranbourne Shire Historical Society collection.
The Argus Tuesday August 29 1939, page 10
As you can see by the picture of the unveiling the the War Memorial, plus the one of the Shire Offices, above, the obelisk was originally located close to the corner of Sladen Street and the South Gippsland Highway. It was later hit by a car and moved at some time, possibly 1953, further west along Sladen Street, as seen in this 1988 picture, below. It was relocated again to its current location in Greg Clydesdale Square in 1991.