BARTHOLOMEW TIMBER CO.

Sun (Auckland), Volume I, Issue 149, 14 September 1927, Page 2

BARTHOLOMEW TIMBER CO.

YEAR OF DIFFICULT TRADING Competition from the State- sawmill at Frank ton Junction, heavy importations of foreign timbers, and the financial stringency generally combined, states the annual report of the Bartholomew Land and Timber Company, to make the past year’s trading most difficult. The profit on the year’s transactions, after making provision for depreciation and income tax, amounts to £4,746 19s 4d, to which lias to be added the balance brought forward from last year £771 11s sd, making a total of £5,518 10s 9d. The interim dividend of 4 per cent, paid in April absorbed £2,000, and from the balance of £3,518 10s 9d, the directors recommend the payment of a dividend of 4 per cent., making 8 per cent for the year, £2,000, and of honoraria to directors, £SOO, leaving a balance to be carried forward of £l,OlB 10s 9d. The company’s net profits in 1924-25 were £6,051, and in 1925-26 £5,932. a dividend of 10 per cent, being paid in each year. Last year, with a balance from the previous account of £3,351, there was a total available of £9.283. The dividend absorbed £5,000, while £3,012 was transferred to the reserve fund, and after payment of directors' honoraria a balance of £771 remained.