THE KAURI TIMBER COMPANY (LIMITED). MEETING IN MELBOURNE.

Te Aroha News, Volume VI, Issue 367, 11 May 1889, Page 5

THE KAURI TIMBER COMPANY (LIMITED). MEETING IN MELBOURNE.

Tin: second ordinary or general meeting of shareholders in the Kami Timber Company (Limited) was held at the City Bank Hall, Collins-street East, Melbourne, on Tuesday, 30th April, 1889, at.2.30 p.m.. Messrs J. Sharp, Robert Harper, George Lush, G. H. Mann, Harvey Patterson, David Blair, and Colonel Sargood representing the Board of Directors. Georgelioldship, Chairmanof the Auckland Board, and about 80 shareholders were present. Mi John Sharp, Chairman of directors, occupied the chair. The Chairman stated that the meeting was held merely to comply with legal requirements. No accounts would be piesentecl till the annual meeting, to be held in October next, when the directors hoped to have a satisfactory statement to submit. Most of the time of the directors during the half-year which closed on 28th February had been occupied in the very anxious and arduous task of Inking over the vast properties purchased by the Company, and ie was a matter for great congratulation that they had now a good title to all their properties in the Company's name, and that this had been accomplished without any litigation. The stocks of the Company were very large, amounting at all the various: branches to about 124,000,000 superficial feet of logs and sawn timber ; but as all the markets wore in a fairly satisfactory state, and the directors were completing arrangements for pushing those markets which were somewhat sluggi&h with regard to kauri on account of the inteiest of the timber merchants in other timbers, the demand would soon increase so as to reduce the stocks to a normal state. It was to be remembered, however, that the Company would always be compelled to keep large stocks so as to meet the demand for seasoned timber, the Company in this respect possessing great advantages. Advices from Glasgow and London markets were very favourable, and the directors hoped to meet with success with trial shipments to both markets, which they weie arranging to send. The Chairman thought that perhaps there was noone better 1 able to pass an opinion on the timber than he was, and he could confidently and unhesitatingly say that the more he used it the more he was assured of its value. At the prices which the Company was realising it was relatively bv far the cheapest timber in the market, and he was pleased to say it was fast growing in favour. Duiing the halt-year the directors, at the suggestion of the local managing director in Auckland, Mr George Holdship, appointed a local Board of Directors consisting of Messrs George Holdship (Chairman), E. T. Dufaur, A. R. Watson, Thos. Peacock, M.H.R., and John Brown. All these gentlemen had a thorough knowledge of the Company's affairs, and being largely interested, they were exerting themselves to promote thesuccessof the Company. With regard tothemining landowned by the Company no thing definite had resulted so far, though prospectors were at work, I and seemed confident of success. The directors would, however, give full attention to this parb of the property as soon as the proper business of the Company was in full going order. A vote of thanks having been unanimonsly given to the Chairman for presiding, the meeting terminated.