DEPRESSED TIMBER TRADE

Sun (Auckland), Volume 1, Issue 61, 3 June 1927, Page 2

DEPRESSED TIMBER TRADE

PARXER-LAMB ACTIVITIES white pine ha? t ‘enurely de '£3f d for foreign bumU Wl? P °£“f ions k sented t.f sh^re^d^ Lamb Timber Companv T ark «“r----anra.( , r u„g of the^^ Up to the present conn., report, the firm s AustrsU^" d tte mers have not taken deliver ™sto- - While there was ~ ? «*- man;! for kauri, rimn wa^^; Owing to the unsettled state market, the profit for the vetr ?. Ule 8s 2d was less than anticipa^***< directors considered it in.idvisah, ■ pay the usual dividend of 10 be ,0 and recommended payment of f ?ntdend of 6 per cent. Details profit and loss account are a? , tk? low: Credit balance, March U 10.214 IDs 6d; profit the ended March 31. 1927, £3,934S r less dividend and income tar £ 4,027 14s 6d; leaving an avaifce?' balance of £9,521 4s 2d. The^‘ e pany s profits having steadily creased, £17,500 of reserves L' capitalised in 1924. For 1924 , profits were £7,803. and the'difid';, was maintained at the former rate 10 per cent, the amount increase from £3,500 to £5.250. For 19« ' the net profits were £7,035. and V per cent dividend was again naiThis year, with profits at £3,934 the dividend of 6 per cent will £3.150. The retiring directors, MessrAlex. J. Haszard and George j Browne, were re-elected. MINING NEWS WAIHI.—The following informal has been cabled to London.—No. 15 Leve Driving east on north section of Martha Lode; next 50ft. assays 31s 9d per ton Edward Lode: At 242 ft. south we arv crosscutting. The first 141 ft. is of little or no value. The next 20ft assa>*s per ton and the next 15ft. 9s per ton. HAURAKI. The manager report? •The water is now 16ft. below the 300 ft level, leaving about 70ft. to the stufflm. box of the bottom plunger. Owing to the main pumping engine developing a knock pumping had to be stopped until the fault was found and rectified; while doing this, the water rose to 6ft. on the 300 flatsheet. The big bailing tanks were put to work, and the water lowered as above. All the machinery, with the exception of the bottom plunger, is now runnin? smoothly.”