In 1887 McPherson and fellow agriculturalist John Riddoch were named on a medal issued to commemorate Queen Victoria's jubilee. The medal is inscribed Penola, South Australia. These medals were distributed to every child in the district as part of the Penola celebrations for the Queen's Jubilee, which were held on Monday 20th June 1887 (Jubilee Celebrations, 1887).

William McPherson was a sheep farmer who owned pastoral properties of considerable value in both South Australia and Victoria. He married Alexandrina Arnot, youngest daughter of the late George Arnot, in South Yarra in 1880 (Marriages, 1880).

McPherson was very involved with the civic life of the Penola community; he was appointed a Justice of the Peace in 1878 and served on the Penola Council, as did John Riddoch. In addition to his involvement in civic life McPherson also gave land to various groups and organizations within the Penola community. In 1882 the Penola Council building was built on the main street on a site gifted to the Council by McPherson (Provincial Telegrams, 1882). McPherson passed away in November 1907 and was buried on his property Cluny Estate, which was his principle place of residence; he was survived by his wife who passed away in 1912.

References
'A Grazier's Estate', 1913, The Argus, 18 December, p. 7
'Jubilee Celebrations', 1887, South Australian Register, 27 May, p.5
'Marriages', 1880, The Australasian Sketcher with Pen and Pencil, 20 November, p.306
'Provincial Telegrams', 1882, South Australian Register, 16 March, p.6
'The Government Gazette', 1878, South Australian Register, 2 August, p.6
'The Land and the Producer' 1911, The Advertiser, 31 October, p.15

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