PARKER, LAMB TIMBER CO., LTD.

Evening Post, Volume CXIII, Issue 130, 6 June 1927, Page 11

PARKER, LAMB TIMBER CO., LTD.

(By Telegraph.) (Special to "The Evening Post.")

AUCKLAND, This Da^

The twenty-third annual report of th« Parker, Lamb Timber Company, Lid., adopted at the annual meeting this week, expressed regret at the unsettled state of the timber market, and "stated the profit for the year, £3934 8s 2d, was considerably less than anticipated. To' provide against further unfavourable contingencies during the current year stocks had been valued on a conservative basis, so that any improvement in the maFket would be reflected in the next 'balancesheet. . -■■■■■ "The demand for white pine for New Zealand consumption has. entirely faileu off, due to heavy importations of foreign butter-boxes and cheese crates,"' the report stated. "Up to the present our Australian customers have not taken delivery as expected of white pine cut to fill their contracts." While there was a fair demand for kauri in all grades, rimu, even at cut prices, was little sought. Details of the profit and loss account are as follow:—Credit balance, 31st; March, 1926, £10,214 10s 6d; profit fertile year ended 31st March, 1927, £3934 8s 2*l, less dividend and income tax paid, £4627 14s 6d, leaving an available balance <jf £9521 4s 2d. In view of existing instability of tha market the directors considered it- inadvisable to pay the usual dividend of 10 per cunt., and recommended payment of a dividend of 6- per cent., *hich <wna approved* '_- -^