COMPANY NEWS

Evening Star, Issue 23492, 5 February 1940, Page 9

COMPANY NEWS

DAVID JONES LTD. SIXTH DIRECTOR PROPOSED hi view of the increased pressure of work, the board of directors of David Jones Ltd.. of Sydney, considers that its membership "should be increased from five to six, and accordingly has summoned a meeting for that purpose. Sir Norman Nock, the immediately past Lord Mayor of Sydney, has been nominated as the sixth member of the board. Besides his interests in connection with his own company, Sir Norman Nock has had practical experience in Selfi-idees and Barkers, of London, and also in Warnt makers, of New York. FIBRE mm MILL FOREST PRODUCTS' PROJECT A decision to proceed with the installation of a fibre board mill to supply the requirements of the NewZealand market, together with some export trade, if suitable outlets are available, was announced by Mr IX Henry, chairman of New Zealand Forest Products Ltd.. at the annual meeting. It is understood that the mill will orobably be at Tokoroa or Waotu. Of necessity it must be near a stream, and there are several sites available in that district. A large number of men will be employed at the mill, which will nrobably be estabished some time in March. A license to manufacture fibre board has been obtained, and sawmilling activities also will be undertaken. The company hopes to build up local and overseas markets for the various classes of timber that the forests produce. An initial outlay of pnprosimately £M0,()(X) will be called for and activities will be added to from time to time as part of a comprehensive plan to develop a variety of maTiufnoturing industries. At the wogent time the company has a small mill at Waotu. hut for some weeks no timber has been sent out. The timber nt present milled will be needed by the company for its own use. SOUTHLAND. PRO7EN MEAT DIVIDEND. 'Che Stock Exchange Association has received advice that the Southland Frozen Meat Comnany Ltd. has declared a final dividend on preference and ordinary shares of Bd. BERLEI (N.Z.) LTD. . The Stock Exchange Association has been advised that the directors of Borlei (N.Z.) Ltd. have recommended a final dividend of 2s a share. The .transfer books were closed from February 2 to to-day. LIQUIDITY OF BANKS AUSTRALIAN WAR LGAH OUTLOOK Commenting on the improved liquidity of the Australian banking system, as is disclosed in the October-JDeccmber averages, the ' Australasian Insurance and Banking Record,' in its January issue, says that the change will have an important bearing upon the rate for, and the amount of, the first war loan. The journal says that it would appear that success has attended the efforts made to marshal Australian financial resources for the prosecution of the war. "Tt now remains," it says, " for a firm rein to be held on the forces set in motion to ensure that any adverse effect on costs and prices he kept at the lowest possible minimum."