Mercury Bay Sawmill Company.

Tin-annual meeting of this company was hold at the company's offlce ou Monday, March 9. Mr Thoa Peacock, M.H.R.. chairman of directors ir, the chair. Tbo directors' report stated that the .took of logs at the null, which had been got down by floatage, having been out up, the mill for some mouths bin been working by day on'y, instead of by day and night, as at the beginning of the half-year. The dlrectora are izlad to say that the tramway, to connect tbe Mocwai Bush with the mill, answers its purpose admirably, ond by its moans .the null ia kept supplied at present. It ia not intended to conttoue the supply of loga Jrom this source beyond tho timo wnen a supply of timber i . cot by a frcah. AY o have now a large stock 01 loga in tho crooks, and confidently expect a ood supply with the first rain Thi mill and plant are in a, thoroughly efficient condUion nnd the attention ot your Directors has ul-o been directed to the nece|-.ty for taking a ditoual precautions against fire; steps are now being taken to give greater security in that res-ect After wriung oil the anm of £1.621 for denreciatiTn there remains a net balance of £3-70 a for the half-year. The Directors recommendl that a dividend be declared at the ?f Ai T«l. ..but ncr annum on the paid-up of undivided profits will then amountto *UMBO 7« Ir will al"0 bo evident that in tno propeny -.'presentedI by paid-up capital and undivided P r.rttsthe shareholders have w s aver,and above, all liabilities amounting to £50.-35 ,c. &/.__ imuut^proflW nigh, have *«* paid ; v ,^;.^.-a_n^^Kvid^ aiU it ion to P ,ying oft' tho ruma'mng .nd^b.cd r.ry^^rt^r-t-le-t-d-lr^^ Mr WaymoSth, auditor, and tho proceedings terminated.