KAURI TIMBER COMPANY.

Taranaki Daily News, Volume LIII, Issue 329, 16 June 1911, Page 5

KAURI TIMBER COMPANY.

STATEMENT AT HALF-YEARLY MEETING.

By Cable—Press Association—Copyright.

Received 15, 11.25 p.m. Sydney, June 15,

At the half-yearly meeting of the Kauri Timber Company the chairman declared a dividend for the half year at the rate of 8 per cent per annum. He referred to the statement ma.de at a pre--1 vious meeting that there would be a falling-off ill profits. This happened last year, which he attributed to their having cut up a large quantity of inferior logs. He thought that, in future, though there would still be some of the same logs to clear up, their output would be a diminishing one. The figures for the six months showed their anticipations were being realised. In anticipation of the exhaustion of the kauri bush in the not very distant future, it. had been the policy of the company for some years' past to strengthen their interests in other New Zealnnd timbers, with a view to protracting the life of the company. The recent rains in New Zealand had brought down a supply of logs, enabling them to start some idle mills and keep them going for a few months. Business for the past six months had been very active, and sufficient orders were in hand to lead theni to expect a turnover for the year considerably in excess of last year. The report was adopted.