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Daily Telegraph (Napier), Issue 5186, 5 April 1888, Page 2

Oor Bush correspondent, in his letter yesterday stated that there is a vague rumor that the Saw-milling company is not yet formed, nor likely to be in a hurry. Our correspondent was wrongly informod. The Hawke's Bay Timber Company, which is the rightful name of the association alluded to, ha< not only been formed, but it will be duly registered next week. It has secured 55,000 acres of the finest forest in the Seventy-mile Bush, and, with one exception, its country contains all the totara to be found in Hawke's Bay. The formation of this company will have an important effect ou tho timber trade of this district. It is notorious that most of the mills have been working on tbe narrowest margins of profit, if not at a positive loss, and in the absence of any sort of union it was impossible to create an export trade. The Hawke's Bay Timber Company will not only be able to regulate tho output of timber but will be able to tender for, and to fulfil the large orders that from time to time aro received from Australia. It was only recently that a large order from Sydney was supplied by '< Invercargill, which through the want of union amongst our own mill-owners could have been completed here. Wo wish the new company every success.