COMPANY AFFAIRS.

Auckland Star, Volume LXI, Issue 122, 26 May 1930, Page 4

COMPANY AFFAIRS.

NATIONAL TIMBER CO. LOSS TURNED TO PROFIT. DIVIDEND THREE PER CENT. The National Timber 'Company will pay a dividend of 3 per cent for the year ending March. 31 last. If In their ninth annual report just issued the directors state that the trading operations show an improvement on that of the previous year, although the results are not satisfactory from the viewpoint of tbe capital invested. During the year a profit of £2463 17/1 was made as against a los 3 of £700 suffered the previous year.

"The improvement," continues the report, "has been due largely to in creased sales, and also to the saying in selling expense through our association with the Sawmillers' Marketing Company. Unfortunately, the demand for sawn timber is still considerably short of supplies available, consequently the mill is not working full time. A factor still seriously affecting the demand is the very large importation of foreign timbers. The mill, machinery, tramways and rolling stock have never been in better condition, and our stocks of sawn timber are all in good marketable lines. During the year a portion of the company's land at Ngongotaha has been subdivided and some sections sold." ! Messrs. J. A. Lamb and H. Hardley, retiring directors, offer themselves for reelection. : Chief items of the balance-sheet are as follow:—Liabilities: Paid capital, £70,000; sundry creditors, £1612; bank, £7504; reserve for rates and taxes, £409. Assets: Freehold land, £5766; buildings and cottages, £6927; plant and machinery, £12,065; timber rights, £41,180; tram lines, £12,650; stock, £10,002; sundry debtors, £4432.