KAURI TIMBER COMPANY

Taranaki Daily News, Volume LII, Issue 127, 26 June 1909, Page 2

KAURI TIMBER COMPANY

HALF-YEARLY MEETING. Melbourne, June 21. At the half-yearly meeting of the Kauri Timber Company, the chairman stated that no doubt there would be some disappointment that the directors had not seen their way clear to deelure an 'interim dividend, in view of the promise made at last meeting to favorably consider it. Recent reports had told of the scanty opportunities for acquiring new kauri bush, swelling the company's ready cash but restricting its' supplies. It. was satisfactory to be able to state tl-nt having found good investment's in this direction (which, with the expenses for further tram lines and increased logs and stocks', had absorbed all the company's available cash), the directors considered it in the shareholders' inUrests to utilise the funds in that waiver. Be would ask them to wait iCL- n dividend till the usual annual n/ec-iing in December. Although there liad been a considerable falling off in sales, a reasonably prosperous year was anticipated. During the. nine months, besides the payment of .€46,(11)0 for the dividend in December last, the company had had special expenditure amounting *o about tIM/.1110, none of which wa, ihnigoal.le to prolit ami lorn, and, as there were further obligations, he felt it unwise to declare a dividend to. most those heavy demands, whi'e company's funds had proved sufficient at present. It was reassuring that there was still a sum in hand, which he amtcipated, would enable the directors to meet further items of special expenditure they had in view.