REDWOOD FORESTS LTD.

Greymouth Evening Star, 14 September 1934, Page 9

REDWOOD FORESTS LTD.

EX-DJ RECTOR’S STATEMENT. (PEB PBESK ASSOCIATION.] WELLINGTON, September 13. A former director of Redwood Forests Ltd., F. F. Hockly, whose name was mentioned in the second interim report of the Company Promotion Commission, has placed before the Commission a statement setting out his connection with Redwood Forests Ltd. In the course of this, he states that he joined the directorate on September 27, 11)29, and. resigned at the end of the Company’s year. When asked to join, he regarded it as a recognition of his well-known interest in afforestation, and accepted the invitation as an opportunity to establish a. valuable industry for the Dominion. His resignation was dictated by personal reasons and he parted with his co-directors on friendly terms. As far as the investments were concerned, he would not recall exactly what was done in each case. His general impression was that in every instance, a. valuation by a competent valuer was produced to the directors. “I am fully assured in my own mind that every transaction appeared entirely regular, otherwise I would have questioned it at the time,” he concluded.