COMMERCIAL

Evening Star, Issue 17393, 1 July 1920, Page 7

COMMERCIAL

A NEW TIMBER ENTERPRISE. The question of timber supplies is one of pressing public importance and therefore cnsiderable interest will be awakened by the abridged prospectus of the Great Western Timber Company, Ltd., which is published in this issue. * The new company is being formed with a capital of £125,000, divided into 125,000 shares of £1 each, to open up and, work a large area of forest in the vicinity of tlie port of Okarito, South Westland., The prospectus 1 states that there are 10,000 acres over which the vendors have the milling rights—4,ooo acres on the shores of the Okarito Lagcon, 2,000 acres just on the south side o£ the little township, -while 4,000 acres are further north near the Wanganui River (south of Hokitika). With regard to the 6,000 acres adjacent to Okarito, Mr Gideon Anderson, Crown lands ranger, now Forestry Inspector, estimates that, there is 80 per cent, rirmi, 17 per cent, white pine, the balance being silver pine, totara, and matai. He further estimates that this area- will average 50,000 ft to the aero. The timber content of the forest areas over which the vendors hold’ milling rights is estimated at three hundred million feet. Computed at £1 per hundred, this means that the company will start out with an asset that should be worth £3,000,000. For the convenience of intending investors, an application form: ie being published in this issue, at the foot of the abridged prospectus. THE PRICE OF GOLD. [Pee United Press Association.] WELLINGTON, July 1. The Treasury supplies the following official information: —The price of gold to-day is £5 os 7d per cz. Shipments are being guide to America and India. N.S.W. CREDIT. LONDON, June 29. Dealings in the New South Wales new 65 per cent, loan opened at £99, and touched £9B 10s, closing at £93 12s 5d.. SYDNEY, June 30. Subscriptions to the State drought loan of £2,000,000 (a local issue) have closed, the amount being substantially over-sub-scribed.