KAURI TIMBER COMPANY

New Zealand Times, Volume XXXII, Issue 7301, 3 December 1910, Page 7

KAURI TIMBER COMPANY

MESS ASSOCIATION. AUCKLAND December 2. The directors of tho Kauri Timber Co., Limited, in submitting .to shareholders the balance-sheet for the twentysecond year of the company’s operations, to August 31st, state: “The, year’s, results have been considerably below expectation. chiefly iu consequence of the inferior run of logs with which we have had to deal, producing a low percentage of the higher grades of timber. But these conditions will be greatly improved during the year now current, and should produce correspondingly better results. Owing to tho soundness of trade during recent years, we have a largo surplus to our del credere fund available for transfer to profit and loss, and the sum of ABOGO has been transferred accordingly, still leaving adequate provision for all outstanding accounts. The balance at credit of profit and loss, including <£23,333 6s 3d brought forward from last year, amounts to A 67.030 17s 7d, out of which it is proposed to pay a dividend at the rate pf eight per cent, per annum, absorbing. .£46,800, and to carry forward to next’ year the balance, 1130,220 17s 7d.