Company News Injunction Granted Against A.O.E.

Press, Volume XCVII, Issue 28491, 22 January 1958, Page 15

Company News Injunction Granted Against A.O.E.

An Injunction restraining Australasian Oil Exploration, Ltd., from proceeding with its proposals for the reconstruction of the company was granted at Perth on Friday by Mr Justice Virtue.

The injunction was granted pending Judge Virtue giving written reasons on a reserved decision. Three shareholders had issued a writ claiming that the resolution for the reorganisation of the company was unable to confer power on the company to put the plan into effect. The writ also claimed an injunction to restrain the company from acting on the resolution. COLOMBO TEA SALES (NZ. Press Association—Copyright* COLOMBO, January 20. There was a quieter demand for the 4.559,7041 b of tea on offer today. There were no Russian buyers in the market and all other centres operated cautiously. Best high-growns fell 50 cents to one rupee per lb, while best lowgrowns were 20 cents per lb easier. Medium brokens were generally dearer but low-grown teas declined by 5 to 8 cents a pound. Coloury medium-growns were occasionally dearer. As the sale progressed Persian Gulf types met easier demand. Fannings' were the best feature of the sale with all other fanning grades dearer. Commons were comparatively steady at the close of the sale. Quotations: — High-grown broken orange pekoe, 380 cents per lb; good medium b.0.p., 235; medium 'liquoring b.0.p., 215; medium liquoring broken pekoe, 150; medium liquoring pekoe tannings, 235; medium liquoring orange pekoe, 252; low medium b.0.p., 176; low medium pekoe tannings, 220; low medium dust, 200; low medium orange pekoe, 247; low medium pekoe, 178. Duty, 65 cents. Briscoe, Mills (New Zealand Press Association) WELLINGTON, January 21. Briscoe and Company, Lta., London, has acquired those shares in Briscoe, E. W. Mills and Company, Ltd., previously held by E. W. Mills and Company, Ltd., it was announced in Wellington this afternoon. This transaction terminates the partnership of Briscoe and Company and E. W. Mills and Company in Wellington, which dates from 1932. In that year the two companies amalgamated the businesses they had carried on in Wellington for many years previously as separate enterprises. Mills since 1854, and Briscoes since 1892. Briscoe, E. W. Mills and Company will continue to trade under its present name.