NATIONAL TIMBER DIVIDEND

Evening Post, Volume CIX, Issue 123, 27 May 1930, Page 12

NATIONAL TIMBER DIVIDEND

(By Teleyraph.) (Special to "The Eveninfl Post.")

AUCKLAND, This Day. The. National Timber Company, Ltd., will pay a dividend of 3 per* cent, for the year ending 31st March last.

The directors report that trading operations show improvement on those of last year, although the results are not satisfactory from the viewpoint of the capital invested. During the year a profit- of £2403 17s Id was made, as against-a loss of £700 suffered the previous year. "The improvement," continues the report, "has been due largely to increased sales, and also to a saving in selling expenses through association with the Sawmillers' Marketing Company."

Demand for sawn timber is still considerably short of supplies available. Consequently the mill is not working full time. A factor still seriously affecting the demand is the very large importation of foreign timbers. Our mill machinery, tramways, and. rolling stock have never been in better condition, and our stocks of sawn timber are all in good marketable lines. During the year a portion of the com-j pany's land at Ngongotaha has been sub-. divided, and some sections sold."

. The balance-sheet shows liabilities, paid capital, £70,000; creditors, £1612; bank, £7504; reserve for taxes, £409. Assets include: Freehold land, £5766; buildings.and cjottages, £6927; plant" and machinery, £12,665; timber rights, £41,180; tram lilies, £12,650; stock, £10,002; deb tore, £4432.