KAURI TIMBER COMPANY.

Press, Volume LXVI, Issue 13906, 3 December 1910, Page 11

KAURI TIMBER COMPANY.

irxjua association telegram.) AUCKLAND, December 2. Tho directors of the. Kauri Timber Company. Ltd., in submitting to shareholders the balance-sheet for the twenty-second year of the company'« operations to August 31st,,state: —"Tho year's results have been considerably below expectations, chiefly in consequence of an inferior run of logs with which we have had to deal, producing a low percentage of higher grades of timber, but thase conditions will be greatly improved during the year now current, nnd should produce correspondingly better results. Owing to tho soundness of trade during recent year* we have a lafge surplus to our del credere fund available for transfer to profit and loss, and the sum of £8000 has heen transferred still leaving adequate provision for all outstanding accounts. The balance at credit of profit and loss, including £23,533 6s 5d brought forward from last year, amounts to £67,020 17s 7d, out of which it is proposed to pay a dividend at the rate of 8 per cent, per annum, absorbing £40,800, and carry forward to next year the balance, £20,220 17s 7d. Mesers B. Matson and Co. report having held a very successful clearing sale on account of Trustees of Ballagh's Estate, Leeston. Implements fetched up to £16; two lines of ewes and lambs, 13s 3d and 14s 3d respectively; horses up to £35. There was an exceptionally good attendance of buyers, and every lot was disposed of at satisfactory prices. Messrs H. Matson and Co., Auctioneers. 6