FOREST PRODUCTS

Evening Post, Volume CXXIII, Issue 124, 27 May 1937, Page 12

FOREST PRODUCTS

FUTURE POLICY

UTILISATION OF TIMBER

(By l'elesraph— I'ress Association.! AUCKLAND, This Day. The directors of New Zealand Forest Products, Ltd., in their first annual reoort, state that they are preparing to "take over the forests formerly maintained by New Zealand Perpetual Forests. . , , As the financial issues are involved and of a considerable magnitude, the two companies have agreed to refer these to the bondholders' incorporated commission. When these matters have been settled the way will be clear for the directors to take possession. Meanwhile, much preliminary work has been done on utilisation matters. The directors state that the best technical advice is being sought respecting such problems as the suitability of the timber for general purposes, such as for boxmaking, for veneers, or plywood, or as woodpulp for the manufacture, of paper and wallboard. The questions of transport, milling, and marketing have also received attention.* , .-, , * "Despite representations which have been made by bond salesmen or others as to the financial returns which the bondholders might expect," proceeds the report, "your directors feel that at this stage they cannot give any definite indications of the sums which misht eventually accrue thereunder." The directors add that the forests represent an asset of great potential value, and a policy of gradual realisation'is clearly, indicated as .being in the best interests of the project as -a whole.