KAURI TIMBER COMPANY.

Dominion, Volume 4, Issue 996, 10 December 1910, Page 5

KAURI TIMBER COMPANY.

REPORT OxN THE YEAR. By Teksraph-Press Association-Copyright. , Sydney, December 8. At tho annual meeting of tho Kauri Timber Company, the chairman, iii moving the adoption of tho report and balance-sheet, said tho decline in profits might havo beea expected, as 1903 and 1909 had been tho best years iii the company's existence. The main cause of the decrease was tho larger percentage of inferior logs. Early in the year £15,000 was spent on a tramway into bush containing timber which, it is be-, lioved, was equal to any seen in Now Zealand, and which would bring a better average. Tho marino insurance fund was increasing more rapidly, as a larger proportion of the company's own risks was being taken. There was a reduction of £7000 in management expenses, partly due to tho closing of the Sydney. retail business, and partly to an improved method of dealing with trade discounts in New Zealand; Of tho'£23,Boß reduction in profits, £1700 represented less profit on timber. Tho dividends from other companies had increased by £4300. These made tho total dividend amount to £9540. Tho balanco to credit of profit and loss was £67,020, out of. which it was proposed to declare a dividend of 8 per cent.