"A GREAT ASSET"

Hawke's Bay Herald-Tribune, Issue 111, 27 May 1937, Page 8

"A GREAT ASSET"

-PreM Association.)

Annual Report of N.ZForest Products

(Bv Teleeranh-

AUCKLAND, Last Night. _ In their first annual report, the directors of New Zealand Forests Products, Ltd., state that they are preparing to take over the forests formerly maintained by New Zealand Perpetual Forests. As financial issues are involved and are of considerable oiagnitude, the two companies have agreed to refer these to the Bondholders (incorporated) Commission. When these mattera have been settled, tke way will be clear for tke directors to take possession. Meanwkile, mueh preliminary work kas been done on utilisation matters. Tke directors state tkat tke best technical advice-is being sought respecting suck problems as suitability of timber for general purposes, boxmaking, veneer, plywood, or as woodpulp for paper and wallboard, etc. Questions of transport, milling and marketing are also being investigated. "Despite representations wkick kave been made by bond salesmen or otkers as to tke financial returns wkick bondholders might expect, your directors feel that at this stage they cannot give any definite indications of the sumb which might eventually aecrue thereunder. " The directors add that the forests represent an asset of great potential value and a policy of gradual realisation is clearly indieated as being in the best interests of the projeet as a whole.