KAURI TIMBER COMPANY.

Dominion, Volume 2, Issue 543, 25 June 1909, Page 5

KAURI TIMBER COMPANY.

■:■*'.; ■■.'...' ■ .'»".■■ '.-. '' -'" : " ■■.'.•', NO lOTERIM DJYipEND. ■ ' (By Tolegraph.-Prcs3; ,:'!!. (Reo. June 25, 0.15 a.m.) ' :/■ ".;■■>:;' '.'. ; ' :■■'■-.; jMeJJjotiriJO, Juuo;24.v ■ . At the ,holf,yearly meeting of the Kauri Timber ;Company,; the chairman. stated, thai no doubt: there would .'bo somo disappoints 'nient:»(i (.lie.fact >that tho directors .had'no* seen' thoir-wiay deaf to .declare an- interim dividend, in view of tho promise made last meeting: to favourably consider the!.matter,, recent , reports 'had "told :<)f .tho scanty opportunities of. acquiring, now kauri bjish, ..which lopt ilrnd .tlip-effect .of. swelling; the ceiupany's ready cash, but: of restricting its supplies of timber. It-was satisfactory: to .be ab!o;to: t state that the company, had found good; investments in this direction,'-.'. which, with the expenses for further tram.lines and increased log .stocks,!! bad. absorbed all ' tho eonipanyls v'avajlablo";'■ cash. .;: The direciors : popsidored that it. was: in , tho ; shareholdors , ' interests, to .utilise tho funds in-!.that inan-' per, and toasli'tljem to wait 'for their; diyk deml till:tho .usyal annual' •■ meeting ia Depomberf'.' ;:.; : - ,■'../,- ■-.;*.'/•.'.v;-'-- : ■:■ K ■ : '■'.;

-•Although there had been .a considerable falling off , in sales, a reagonhbly. prosperous jfV tvas antici[>aj«i. Purijig itjio lasV njno pjonth's,, beside; tlio payment of jE46,000 for •-dividend, in \ December last, tho'company ;Jia4' ppecial ojfpenditujp ainountinij to abo'u£ ' none of which ...y/as.! , - chargeable to .'prpfit'and• loss; and 'as' thfero wore ; 'further 'obligatlona, .£h{). felt it\would bo '.Rnwisp''^\'decJarfl;'a\'divideijd. : :at-prpsenii.'.'-' : lt : th'at.;the. company's. ; funds had proyed snfßoiont, to meei those heavy ilemands.'.iyhile'.therQ- was-still, a' sum |n p1))p meet, the -further 'item's of,special- expendituro-tlioyhad'in yiow. '..■.