A BAD YEAR

Evening Post, Volume CII, Issue 34, 9 August 1921, Page 7

A BAD YEAR

SENSATION IN DRAPERY TRADE

(WITH PRESS ASSOCIATISN.—C«PTKI«IT.?

(ABITItAItAN ■ NBW ZBALANB CAILI ASSOCIATION.)

(Received August 9, 9 a.m.)

LONDON, Bth August. A sensation has been caused in the soft-goods trade by Rylantls - and Sons, Ltd., the well-known firm of warehousemen, announcing a loss> of £1,263,315 for_ the, half-year ending 30th June, owing to the unprecedented fall in values of their stock-in-trade, losses sustained under heavy contracts, all of lvhioh have been cleared ©y prodded for. ,

The company is claiming from the Treasury repayment of £1,200,945 excess profits doty, -which w^ll reduce the actual loss to £62,370.

The directors, propose to withdraw £250,000 from the reserves. to pay a five per sent, dividend. " ;

[Pvylands ianjl Sons', Ltd., is one of the largest British firms of Manchester manufacturers and warehousemen, with extensive p-remise.s in Wood-street, London; KG. Their direct relations extend to ail over the Dominion?. They are specialists in the- manufacture of grey sheeting, and their goods are represented in almost- every draper's shop or general store throughout the British Empire. They have New Zealand offices in Wellington.]