Dreyfus And Co. To Cease Trading
(N.Z.P.A. Reuter —Copyright) LONDON, April 4. The chairman of Dreyfus and Co. Ltd., Mr Ronald Palfreyman, announced today that because of liabilities his company was going out of business.
The firm of merchants operating in London is well known in the wool industry for its handling of deals between Britain and South Africa, New Zealand and Australia. Discussions are taking place between the board and the company's creditors to decide the best method of ending its business, while at the same time preserving its assets to meet liabilities.
Mr Palfreyman warned today, however, that no surplus was likely to be available to repay shareholders and the Stock Exchange council had been asked to suspend dealings in the shares. The latest quotation for the ordinary shares with a par value of four shillings was seven and a halfpence. The company’s last report said the income from wool transactions had been insufficient to meet the cost of maintaining essential services. There had also been a heavy loss in transactions in fertilisers, partly because of adverse weather in north Queensland. Dreyfus and Company, founded 65 years ago, has no
connexion with Louis Dreyfu: and Company, the grain am oilseed merchants.
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Bibliographic details
Press, Volume CV, Issue 31028, 6 April 1966, Page 13
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203Dreyfus And Co. To Cease Trading Press, Volume CV, Issue 31028, 6 April 1966, Page 13
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