LONDON WOOL SALES

Sun (Auckland), Volume III, Issue 655, 6 May 1929, Page 10

LONDON WOOL SALES

POSITION MORE STABLE NOW FAIRLY ENCOURAGING (Australian and N.Z. Press Association ) Reed. 9.5 a.m. LONDON, Saturday. Discussing the wool position, the “Economist’s” correspondent says the trend of events at the London wool sales is helping to stabilise the position in fairly encouraging fashion. Some difficulty is admittedly being found in disposing of second-hand offerings, and it is in these that there is any decline. Crossbreds are being bought freely by Home and Continental buyers, and in spite of the fact that this description forms the major portion of the offerings, greasies are not showing any appreciable decline compared with the last series. During the whole time, business has been comparatively quiet. Merino tops and crossbreds have been selling steadllv. The outlook for this description is fairly good.

FUR FARMS, LTD

MORE CAPITAL REQUIRED Decisions to change the name of the company to Fur Farms, Ltd., and increase the capital to £15,201 by the creation of 15,000 participating preference shares, we , ;i made at an extraordinary general meeting of the Industrial Rabbit Breeders’ Co-operative Association, Ltd., on Thursday. The chairman of directors, Air. L. R. Heywood, said an increase in the capital of the company had become necessary, and in searching for the most profitable field for future activities, the directors had decided that pelt production on a large scale from the Chinchilla rabbit gave the greatest promise. It was agreed that the participating preference shares should entitle holders to a cumulative preferential dividend of 10 per cent, per annum on the paid-up capital, and participation with the holders of the remaining preference shares in the division of one-quarter of all further profits available for distribution.