PERPETUAL FORESTS .

Dominion, Volume 31, Issue 154, 26 March 1938, Page 14

PERPETUAL FORESTS .

Settlement Reached After negotiation# extending over 18 months between New Zealand Perpetual Forests Ltd. and New Zealand I'orcst Products Ltd., Mr. David Henry, of Auckland, chairman of New Zealand Perpetual Forests Ltd., said in Melbourne last week that a satisfactory settlement had been reached by agreement. The terms still remained to be formally ratified by the Bondholders’ Incorporation Commission in New Zealand, he said, but it was expected that this would be done within a few weeks, when a public announcement of the details would then be possible. In the meantime he assured shareholders that a substantial sum, "reatly in excess of that which they had originally discussed, would be paid to the forest products company. Mr. S. A. Clarke, deputy chief for the forest products division of the Council for Scientific and Industrial Research, hau been released from his department for six months, and would immediately go to New Zealand to report on methods of . The bondholders’ company, New Zeautilisation.' land Forest Products Ltd., was formed about two years ago under special legislation for the control and realisation of the forests. Sydney Wool Sales Results Returns issued by the National Council of Woolselling Brokers of Australia show that from July 1 to February 28 the sales of wool in Sydney totalled 774,081 bales, which realised £13,175,542. Compared with the corresponding period of the preceding season, the quantity sold shows a decrease of 215,642 bales, and the amount realised a decrease of £7,301,872. The greasy and scoured wool sold averaged £l7/0/5 per bale, or 13.7 d. per lb., compared with £2O 13/9 per bale, or 16.6 d. per lb. in the similar eight months of 1936-37. The greasy wool sold in February averaged 121(1. per lb., the average for February, 1937, being 1_8.6d., February, 1936, 16d., and February, 1935, 9.6 d. AUCTION. DIARY TO-DAY. Shortt Street, Masterton, 12.30 p.m.—Sale of House Property and Stock (J. Kerslake and Co.). MONDAY. Shannon Sale, .1 p.m.—Mixed Stock (Abraham and Williams Ltd.). TUESDAY. Levin Sale, 11.30 a.m.—Mixed Stock. Pahiatua Cattle Fair, 11.30 a.m—ll2o Cattle. At Levin Sale.—Mixed Stock and Farm Implements, Estate Late F. Davies (Abraham and Williams, Ltd.).