MINING.

Lyttelton Times, Volume CXVII, Issue 17788, 13 May 1918, Page 7

MINING.

WAIHI-PAEROA COMPANY. [Per . Press Association.] AUCKLAND, May 12. The Wailii-Paeroa Company for the period ended May treated 20,300 ■ tons of tailings for a return of £4750, compared with 14,500 tons yielding £4850 in the corresponding period last year. The total treated to date is 878,900 tons, yielding £206,611'. By Telegraph—Press Association—Copyright. Australian and N.Z. Cable Association. LONDON, May 10. Wailii, 35s to 36s 3d. NEW ZEALAND PAPER MILLS. The annual report of the New Zealand Paper Mills for the year ended March 31 states, that, after making provision for all bad and doubtful dobts, and for depreciation on plant, machinery and stocks, the balance of profits for the year amounts to £21,026 2s; adding to this the balance at the ond of last financial year, £1319 5s 3d (£22,375 7s 3d), and deducting interim dividend paid on November 1, 1917, £2813 ss, there is left available £19,532 2s 3d. The directors recommend that this be dealt with as follows: —Payment'of dividend at the rate of 4 per cent for the six months (making 7 per cent for the year), £3791; addition to reserve fund, £5000; to reserve for income and war taxes. £9000; carry forward, £1741 2s 3d — £19,532 2s 3d. The unusual conditions caused by lack of shipping and consequent reduction in imports have enabled tho company to considerably increase the. output of the mills, which have, however, been somowhat affected by a temporary shortage of raw material. For this reason the mill at Riverhoad has not run full time, but the others have been operating continuously.