NEW ZEALAND PAPER HILLS.

New Zealand Herald, Volume XLV, Issue 13761, 28 May 1908, Page 6

NEW ZEALAND PAPER HILLS.

, ; f4 [by telegraph.—PllKS3 association.] - ; ••••" Duxk din, Wednesday. The. annual meeting of the Isew Zealand Paper Mills Company was held to-day. The - r chairman of directors (Mr. Mitchell), in mov- , , ing the adoption of the report, said thobusi- " ixess transacted during the year had shown • a considerable expansion, with an increase in profits,' which, while not entirely in proportion to the greater trade, must, bo ,on- . yidered satisfactory. Owing to the increased v demand for the company's produce in the North Island the board had considered it "expedient to add materially to the plant at fiiverhead. A new paperraaking machino with necessary equipments had been 'authorised. and the manager of that mill would proceed to the Old Country at an early date to supervise the preparation of the plant. The report was adopted. It was. decided to postpone the election cf directors till after the meeting to bo held to confirm the proposed .alteration in the articles of association regarding the number of directors. • * Messrs. Barr, Lcary, and Co. (Dunedin) and W. Wallace Bruce (Auckland) were reelected auditors. At an extraordinary general meeting it was resolved, "That the board of directors consist of no', more than eight, nor less than five, of whom at least one-half shall be resident in Otago."