:
1
Press
Aren Extreels "the time! 17.4.69
about t ̃KANY
plint and od p
Anger in textile industry at tax rise
By DAVID JONTS
The £200m. household textile trade was in a state of angry tur- moil yesterday as the full imple cations were realized of the Chan- Celler's throwaway remarks on extending purchase tax to cover household textiles.
**
As directors in scores of manu- facturing firms throughout Ianca- shire and Yorkshire met to work out the effects of the new Lax, department store chiefs through- out the country ordered their buying departments to send oll rush orders to stock up for the six week boom which they con- fidently expect before the 132 per cent rate comes mio effect at mat- night on May 26
Stocks are already high in the trade, and many groups including Marks and Spencer hope to hold off price increases until the late Mail order houses, with their catalogues already printed. are unlikely to raise prices until the autumn.
sunummer.
After this the prospect looks Beak Abeads there have been signs that the textile boom of the Lest 18 months is beginning to level off. Iven more alarming is the fear of higher prices opening the doo; to low price imports mamly Trom Honekong and Portugal
Among groups in the manufac- tting business likely to be affected by a drop in home demand are the fibre producers such as 101 and Courtaulds, who die promoting Terylene and nylon vigorously un these markets nylon, for instance already takes 20 per cent of the 1m market for sheets; large tex tile manufacturers such as Vivella #Doma sheets. Sunfield furnishing fabrics), Courtaulds (Christy sheets and towel, Earlywarm blankets, and Baunswear knitung wool, English Calico (Osman sheets and towels, Tootal fabrics, and Sylko threads!, Coats Paton ekmatting wools), and Witney Blankets.
Two large property mergers proposed
Two large property mergers were proposed yesterday in the after- math of the Budget Capital and Counties, valued at £ilm, is hay ing talks
** to
determine th
feasibility of .* merger with Greenhaven Securities, valued at £10m. The share prices of both companies rose smartly Capital and Counties by ly "1⁄4d to 15% 94 and Greenhaven by 2
1 mon
Corporation, the South Minican mining
house.
Suvaik
owns 60 per cent al tireenhaven
The boards af Town and city and london 4 ounty and Midland have agreed
.1 bod worth
£8 9mm by down and viv for t
and M 11: oiler of two ordi- naty shares of Town and Hy
'ARKETS MOVED
Gestetner A C.L.R.P. Royal Dutch
GrampanẨ‚V, Hoy, Gigɗvel Lloydy Bk. Nat Vest Roantree Mlect. Itust
AULA
4 6 4 148 6 19/10 34
10 10 10 6 16 to 146
30 40 63 0
160
40, 3499 ALA
and 1x tul, a' convertible loan stock to, every three | Cand M J recommended by the latter s board, which effectively controls
12 per cent of the equity worth around 2 1st. against a chasing price of 14% 9f Kevsey Alligann as acting for Town ga City God Hambros for i tami
IN
.
* lai spate of takýóvers of prapeuty Companies An LANCHE months is Pick to be accentuated by the rise in Corporation fax. which hits property, comparés among the haydest It is po ve incidence thy these the merpers are annoupled imediately after the Chancellor produced the tre in the ax Late
Gilt-edged securities closed with widespread sharp gains atter see- S;L$.U344+ttriThy simgthe
RECEIVES
quities
RECISTRY Na
usepilarly in The
kines in-
SITE APR 1959 1
To hrmly
și UN advicey,and im fallied 14
whee
MCCG/508/1
Physail, 4 va jonka j*******
a delayed ac sclàm ba March'e
༞ # }}it
1224
1
**
ཎྞཾft』
ponds m shayng sui plus foreign eschang: • yehyalay befor
VREMENS
"
pushed thu Kate brick to a hard of N? 1990, whyre at vlo ed on th PLOVIMĄ, evenag
Reports of Hark support TADE the widely discounted among de flers und the rally seemned to emfa ita from the behel that the Butt buİ not basially altered the position. The point would nfrmally have gained from the Wednesday adu.tment, but early selling, although not pubstantial, was widespread.
Dollar premilyn near peak
The investment/ dolar premiu came close to f new yweak vester- day. Spurred Ẩm by Me removal
Bess
the ceilin to De ditunonal dollar investment, the rate me on an unusualfs high level of bug
to Quish at 99% fer cent. Belone thế Budget the te WAN 44, per fent, and it rene to 50 per cent on Tuesday, after the Chan- cellor Had spoken
It was thought unlikely that the relayition would lead to a ship mejƐase in mnstitutional investment ityAmerica
N Songs bid talks in City
Johan tennon of The Heales alled at the City
་
ollices of Hemy Ansbacher, the miershing inkers, yesterday after
disettes proposals for povite counter bad for Northern Sogős, kuriently the subject of a M40 takeovat other from Sur Few kiraste « Acaciated belevision Corporation
ME
pattaraitija val
ARAS TRAKTƏ |
by his wife, Yoko Ono, and Allen Klein, an Amberk in entrepreneur called in by the Beatle far advise on the afburs of then company. Apple Corps The meeting lasted about 75 manntes, after which Mi Lennon saand he had no comment
Brace Omincod director of Ansbacher, vaid further micelings would have to be held, hit a deere still likely before the
There
special problems involved ut bud by individuals and the meeting had been extremely helpful, he sand
BREA
་ ་
weekend.
"
JELEM
SAfrica draws
$66m on fund
South Audy has made
the duckrip (AUS LATE
1
Nobre.
the Inter
national Moneðurs Fund to exe
increasingly Shortage of currend
**
Téserve
jes opposed
To gold and to find an mulet for the equivalent in gold when the ddrawing as bought back without
zafned up
"
*****
1
** [*** DI
1
sell #!
ent #hm
Taja tak
:
fi
1 partum RÍ
,:
1 h
#
Polle
vonds
"""
M.
Harcar
alfeet
POJU
herv
་་་་
W.H
You'
tal
11.6
ANTALO
Shee Re
Af
trii
***
110
་་་
art
AL
#11/
41
No comments yet.
Private notes are available after approval.