PARKER-LAMB TIMBER CO.

New Zealand Herald, Volume LXVI, Issue 20263, 24 May 1929, Page 9

PARKER-LAMB TIMBER CO.

DIVIDEND. OF 5 PER CENT.

"VERGE OF TRADE REVIVAL."

• A not profit of £3002, or £719 less than that of 1927-28, is disclosed in the 25th annual report of the Parker-Lamb Timber Company, Limited, to be submitted at tho annual meeting next Thursday. The directors state that the adverse trading conditions mentioned in last year's report have not yet passed away, and that the timber, trade is heavily handicapped both at home and abroad. "Building has been very slack," states tho report, "and the competition of imported timber—produced under conditions that would not be tolerated in New Zealand—has caused furthei unemployment among timber workers in this country. Labour troubles, culminating in the strike of timber workers in Australia, practically killed the export trade for the time being However, we are looking to the future with some degree of hope The Govern ment is considering the whole position of timber production with a view to stabiJ ising tho industry in New Zealand, and furthermore it would appear that we arc on the verge of a general trade revival '' During the past year the company had acquired some valuable blocks of bush which would provide cutting foi some years, but it must be realised that thf> purchases involved the outlay of a con siderable amount of capital which, foi the time being, was not revenue-produc ing. The directors express regret at tho death of Mr. A. J. Haszard, who had been a member of the board for the past nine years Mr. W. J. Parker had retired from the directorate on account of failing health, and Mr. Hendry Luke had been appointed. The directors who in the ordinary course would have retired by rotation were Messrs. A. J. Haszard and George J. Browne. Mr. Browne offers himself for re-election. Following are details of results during tho last three years:—

192G-27. 1927-28. 1928-29. Brought forward £5587 £5793 £5932 Net profits . . 3934 3721 3002

£9521 £9514 £8934 Income tax . . 578 532 Dividend p.c. 6' G 5 Amount .. .. 3150 8150 2625

Carried forward £5793 £ 5932 *£6309 'Subject to income tax.

The company's capital remains at £52,500. The balance-sheet shows assets totalling £97,755, compared with £86,206 last year. The principal items are as follows, the figures for the previous year being given in parentheses Mill, plant, machinery and land, £19,554 (£20,142); stock of sawn timber, £33,304 (£41,969); bushes, logs and advances to contractors and others, £31,334 (£8775) ; tramways, etc:., £3042 (£3120); vessel Akaroa, £1470 (£1564); horses, carts, waggons and motor-cars, £747 (£1247); trade debtors, £5002 (£6100); secured debtors, £2479 (£2473). Liabilities are shown under sundry- creditors, the amount being £36,421, as against £24,192 last ye.ar. The company's dividend up to 1925-26 was 10 per cent., profits in that year having been £9037. WRIGHT, STEPHENSON, LTD. DIVIDEND OF 7 PER CENT. [by telegraph.—press association.] WELLINGTON, Thursday. The 23rd annual. meeting of Wright, Stephenson and Company, Ltd., was held, at the head office of the company, Well-" ington, on Tuesday in the presence of a large number of shareholders. The profit and loss account, including £34,072 brought forward from last year, showed a ci'edit' balance of £71,649. A dividend of 7 per cent, on the ordinary shares was declared and the fixed payment to preference shareholders was adopted, leaving a balance of £37,024 to be carried forward. Messrs. W. D. Hunt, D. Allan and M. C. Featherstone, the retiring directors, were re-elected. Messrs. Barr. Hercus and Company, the auditors, were reappointed. SALE OF PEDIGREE JERSEYS. GOOD PRICES AT TE RAPA. [BY TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON, Thursday Good prices were realised by Messrs. A, Moreland and Sons, Te Rapa, for pedigree Jersey stock which they offered for sale yesterday. There was a! keen demand for the heifers, the 34 head offered averaging 41 guineas. Five cows averaged 45 guineas, the top price being 100 guineas, paid by Mr. J. W. Humphrey, of Gordonton, for th&> cow Beechlands Elysie M. The heifer Beechlands So Ladylike was purchased by Mr. J. Harper, of Otorohanga, for 72 guineas. STOCK SALES. PRICES AT MATAMATA. 'There was an average yarding at the weekly Matamata stock sale- on Wednesday. The demand for both cattle and pigs was on a par with that at late sales, and a total clearance was effected. Prices were:— Cattle: .Light fat steers, to £lO ss; fat cows. £8 to £9 10s;_ lighter cows, £6 to £6 16s: fat heifers, £6 to £7 10s; forward conditioned cows, £4 5s to £5; stores, £3 10s to £3 19s; 31-year store steers, to £8; Jerseycross heifers, in calf. £7 10s to £9; others. £G to £7 7s Gel; empty 2-year heifers, £4 17s to £5: Jersey calves, £4 5s to £5. LATE RATE® AT HIKUTAIA. The Farmers' Co-operative Auctioneering Company, Limited, report having held their usual Hikutaia sale on Wednesday, when an average yarding of pigs and cattle came forward and sold at late rates. Quotations: —Cattle: Heavy fat bullocks. £l2 12s to £l3 8s; heavy fat cows, £9 9a to £ll 6s; medium fat cows. £7 to £8 6s; light fat cows, £5 17s. lid to £G 15s; forward conditioned cows, £4 15s to £5 16s; fresh conditioned store cows. £4 Is to £4 12s Gd: store cows, £2 10s to £3 15s; bulls. £5 lis to £6 lis- Jersey heifer calves. £2 16s _to £4; dairy cows, £5 5s to £6 15s; dairy heifers, £9 to £lO. Pigs: Good stores. £1 8s: slips, 14s to £1; weaners, 8s to lis. SALE AT HORSHAM DOWNS. The New Zealand Loan and Mercantile Agency Company, Limited, Hamilton, report:—Wo held a clearing sale at Horsham Downs on Wednesday on account of Mr. S. P. Buckett. There was a good attendance, and steady competition ruled throughout. Best dairy cows realised from £l3 10s to £l7 10s; others. £9 to £l2 10s; unsound cows nnd late calvers. £5 10s to £8 ss. Pedigree cows, Ngawhiro Miss Rose, 26gns; Ngawhiro Ladylike. 13gns: 18-months-old pedigreo heifer Jocelyn, 13gns; yearling pedigree heifer, 12Jgiis. PROPERTY SALES. William A. Homo, Ltd.. will offer at auction, at their rooms. Home's Buildings, cornor High Street and Vulcan Lane, at I p.m. to-day, on behalf of the mortgagees, hall, shop and workshop, on section 18.8 perches, in New North Road, Mount Albert; also five-roomed house, on section 50ft. by I9Sft., n't IG3, Edendale Road. Mount Albert., Samuel Vaile and Sons, Ltd., will offer at auction, at their rooms, 83, Queen Street, at 2 p.m. to-day, shop and dwelling, on section with 50fl. frontage to Green Lane Road Pnlethorpe fund Parkes will offer at auction, at their rooms. Winstono Bxiildings. to-dav at 1130 a.m. country home and 11 acres. Hill Road, Manurewa. adjoining Manure»va Pitriri Park Reserve: also, same district, 188 acres, subdivided into three farms, two farms approximately 30 acres each and one 88 acres approximately, and house of sis rooms C. P. Bennett, Ltd, will offer at auction, nder conduct of tlie registrar of the Supreme Court, at their rooms, at noon today, bungalow of five rooms, on freehold section, 50ft. by 132 ft., in Truro Road, Edendale.