Late Commercial NEW ZEALAND PAPER MILLS

Dominion, Volume 29, Issue 198, 19 May 1936, Page 10

Late Commercial NEW ZEALAND PAPER MILLS

Dominion Special Service. Dunedin, May IS. The thirtv-first annual general meeting of shareholders of New Zealand Paper Mills, Ltd., was held this afternoon. The ehairman of directors, Mr. F. W. Mitchell, presided over a fair attendance. 't’he balance-sheet and profit and loss statement were submitted with the directors’ annual report and adopted by the meeting. The net profit on the year's operations was £11,763/10/3. and with the carry-forward from the previous period there waw available £19,473/7/6. The directors' recommendation for the payment of a final dividend nt the rate of 4 per cent, absorbed £6OOO making a total distribution of 7 per cent, for the year, was approved, and a sum of £13,473 7/6 io being carried forward. The chairman notified the meeting of the starting up last week of the new paper-making machine at Mataura, and remarked that with this unit now available the wrapping paper needs of the Dominion could be adequately looked after by the company’s production. The retiring director, Mr. W. F. Edmond. was re-elected.