TIMBER COMPANY'S YEAR

Evening Post, Volume CXXII, Issue 132, 1 December 1936, Page 12

TIMBER COMPANY'S YEAR

TARINGAMUTU TOTARA

Directors of Taringamutu Totara Sawmills Ltd., report for the year fndeTseptember 30 a profit.of £6672 15s 4d, which has the pleasing effect of converting the debit balance in the profit and loss account at September 30. 1935. into a credit balance ol i-rfUd 0s 4d "A considerable portion of the above amount was contributed by the company's farm which shows a profit of £1623 0s 9d. The mill profits were substantially diminished by increased labour costs arising from recent legislation, whilst permission to increase the selling prices in compensation was granted too late in the company's financial year to Provide a sufficient set-off." The directors add: "The comoany is fortunate in having an excellent mixed bush, access thereto being convenient for working. All plant has been maintained in good order. The board records its sincere appreciation of the long and valuable services of the late Mr. George Hattie, who from the inception of the company was managing director. Dr. Prendergast Knight and Mr. W. E Fussell, retiring directors, otter themselves for re-election. Mr. G. B. Hull, retiring auditor, also-oners himself for re-election.