NEW ZEALAND PAPER MILLS. (PRESS ASSOCIATION TELEGRAM.)
BUNEDIN, May 34. The annual report of the New Zealand Paper Mills, Ltd., states that last year's operations were not so profitable as those of former years. After making prevision for had and doubtful debts, depreciation of plant, machinery, buildings, and stocks, the net profit was £6470 9s 4d. An'interim dividend for the half-year ended September 30th absorbed £3317 2s 6d. leaving £3153 6s lOd. The halanco.tromlast year was £819 18s lOd, making a total of £3973 5s Bd. The directors recommend the payment of a dividend at the rate of 2. per cent, for the half-year ending March 31st, making 6 per cent, for the year. This will absorb £2369 7s'6d, leaving £1603 18s 2d to be carried forward. During the year.a .phenomenal drought occurred in the" South Island, and shortage of water at Mataura necessitate, curtailment, of tho output for some months. It was thought advisable recently to ' reduce the prices of some of the company* main lines to meet strong opposition by imported articles. Tho fire at Woodhaugh on April 12th caused some loss,.which will be emphasised by the (interruption of business ; ■ .
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Press, Volume LXVII, Issue 14052, 25 May 1911, Page 8
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192NEW ZEALAND PAPER MILLS. (PRESS ASSOCIATION TELEGRAM.) Press, Volume LXVII, Issue 14052, 25 May 1911, Page 8
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