BIG DRUG DEAL
FIRMS AMALGAMATE Capital of £5,000,000. Eleven Australian firms deal- ing in drugs have formed a holding company, represent ing all the States excepting Tasmania, and having a com- bined capital of £5,000,000.
The firms concerned are:— A. M. Bickford & Sons, Limited. Adelaide and Brisbane; Duerdin & Sainsbury, Limi- ted, Melbourne: Elliott Brothers, Limi-
ted, Sydney; Elliott Brothers (Victoria) Proprietary, Limited, Melbourne: Fel- ton, Grimwade & Company Proprie- tary, Limited, Melbourne; Felton, Grimwade Dental Company, Proprie- tary, Limited, Melbourne; Felton, Grimwade Export Proprietary, Limited, Sydney; Felton, Grimwade & Bick- ford. Limited. Perth. Fremantle, and Kalgoorlie; Taylor & Colledge (Syd- ney) Limited, Sydney and Brisbane; Taylors & Elliotts, Limited, Brisbane and Townsville; T. & E. (Surgical), Limited, Brisbane. The new corporation will be known as Drug Houses of Australia. Limited. It is not intended at present to offer shares for public subscription. The whole of the capital will be privately subscribed. The nominal capital is £5.000,000, divided into 5,000,000 shares of £1 each. The directors of the new company are:— Mr. Harold Bickford (representing A. M. Bickford & Sons. Limited), Mr. H. G. McRoberts (Duerdin & Sainsbury, Limited). Messrs. Victor G. Elliott, Francis W. Firth, Rex Cullen-Ward, and Lewis G. Cohen (Elliott Brothers, Limited). General H. W. Grimwads, C.B., C.M.G., and Messrs. E. Norton Grimwade, and R. E. Wood (Felton, Grimwade & Co), and Mr. E. Willis Taylor (Taylors & Elliotts, Limited), The business or each company com- prised in Drug Houses of Australia, Limited, will be carried on in the same name and under the direction, of those who have controlled them in the past, subject only to the gene- ral direction of the board of the hold- ing company as to policy and uni- form methods. Negotiations are pro- ceeding with the directors of the Aus- tralian Drug Co- Ltd.. Sydney, for that company to become associated with the holding company, out these negotiations require to be confirmed by the shareholders.