HIGHGATES, LTD.

Evening Post, Volume CXXVI, Issue 137, 7 December 1938, Page 16

HIGHGATES, LTD.

LOSS OF £22,700

The directors of Highgates, Ltd., department stores, Sydney, in their report for the 19 months ended September 30, 1938, disclose a loss of £22,704, which is struck after transferring £9863 to establishment account.' Each member of the present board, with two exceptions, has been appointed since the beginning of August, 1938. The report shows that on September 8 the company's creditors were called together, as the directors found it impossible to meet commitments on due dates. The creditors appointed a committee to investigate the affairs of the company, and later agreed, subject to certain conditions, to grant an extension of time for payment of accounts. The report states that in considering the loss it should be remembered that the period coyered by the accounts includes the initial trading of the company and the unsatisfactory periods immediately before and after the winter season, and that, in addition, a severe influenza epidemic adversely affected trading.

(By Telegraph—Press Association—Copyright.) (Received December 7, 1 p.m.) LONDON, December 6. On the Stock Exchange today corporation debentures and stocks comfiare with previous quotations as folows:— Nov. 22. Dec. 6. £ s. d. £ s. d. Dalgety and Co., 4 p.c 96 0 0 96 0 0 Dalgety and Co., shares *5 16 3 *5 15 0 British Tobacco . 1 17 9 1 16 9 Goldsbrough Mort *1 1 3 *1 1 6 P. & O, Defd. .. 1 2 10* 12 0 ♦Nominal.