COMMERCIAL

Evening Star, Issue 19024, 20 August 1925, Page 2

COMMERCIAL

KAIAPOI WOOLLEN COMPANY. [Per United Press Association.] CHRISTCHURCH, August 19. The Kaiapof Woollen Company • has had another unsatisfactory year, and, after tho annual meeting to bo held next week, a special meeting will be held to consider a proposal put forward by the directors to cancel part of the paid-up capital. The directors recommend that a 6 per cent, dividend bo paid on preference shares (cumulative preference as to dividend only) from the general reserve, absorbing £4,601 10s; also that the debit balance on the profit and loss account (£90,784 Os lOd) be mat by taking the balance of the general reserve (£23,284 Os 10d) and writing down all shares by 3s per share (450,000 at 35—£67,500), making a total of £90,784 0s lOd. CALCUTTA TEA SALES. Press Association—By Telegraph— Copyright CALCUTTA, August 19. (Received August 20, at 1.30 a.m.) At tho tea sales good liquoring teas wore barely steady, and all other descriptions were lower. Poor,-medium, common, and broken declined from | to 1] annas. Poor and stalky descriptions were ] anna lower. Fair and common pekoe souchong brought nn to 7 annas 6 pices.—A. and N.Z. Cable.