NEW ZEALAND PAPER MILLS

New Zealand Times, Volume XXXIII, Issue 7449, 25 May 1911, Page 8

NEW ZEALAND PAPER MILLS

ANNUAL REPORT. PEESS ASSOCIATION DUNEDIN. May 24. The annual report of the New Zealand Paper Mills, Ltd., states that last years operations were not so profitable as those cf former years. After making provision for bad arid doubtful debts, depreciation of plant, machinery, buildings, and stocks, tho net profit was £6470 9s 4d. An interim dividend for the half-year ended September 30th absorbed £3317 2s 6d, leaving £3153 6s lOd. The balance from last -rear was £Bl9 18s lOd, making a total of £3973 5s Bd. The directors recommend the payment of a dividend at the. rate of 2* per cent, for the half-year ending March 31st, making 6 per cent, for the year. This will absorb £2369 7s 6d. leaving £1603 18s 2d to bo carried forward. , ' _• During the year a phenomenal drought occurred in the South' Island, and the; shortage of water at Mataura necessitated the curtailment of the output for some months. It was thought advisable recently to reduce tho prices of some of th© comnanv’s main lines, to the strong onporition by imported articles. A fir© at ■Woodbamgh. on Anril 12th caused some loss, which will v o emphasised by th© interruption of k*v.incss. "WELLINGTON CUSTOMS. The Customs revenue received at 'Wellington yesterday, totalled £2293. 4 ' BUSINESS NOTICES Th© Christchurch _ Meat has a business notice in our advertising columns. Winifred cigarettes are described; as the world's best value. , Seed potatoes of various kinds are procurable at Gibbons*, Lambton quay. Seven exhibition millinery models are on view at Te Aro House. The property known “Gumerrove,*’ near Featherston, comprising 1360_ acres, is to be offered at auction by Levin and Co. at the Town Hall, Featherston. If not sold in one lot the property will be submitted In five subdivisions. Tenders close with Thos. Turnbull and Son at noon to-day for building a residence in Oriental Bay, Jellyman and Wood, New Plymouth, advertise a farm for sal© close to that town, on which are said to be good indications of oil. A sheep farm of 1300 acres is advertised for sale by A. L. Wilson and Co. The property is situate on the Manawatm line ana can be purchased at £lO per acre for grass and £2 per acre for bush country. To-morrow, at 11 o'clock, T. K. Macdonald, Ltd., will sell 500 sheets of heavy iron and other building material. The location of sale is Lambton quay (next Public Trust Buildings). n. H. Scott and Co., 1, Willis street. 'Wellington, are selling overcoats at 15 per cent, off marked prices. Murray, Roberts and Co., hold fortnightly sales of wool, skins, hides, and taS-o-w. The firm’s list of agencies is advertised. Henderson’s Land Agency, Hamilton, advertises two country properties for sale. The exhibition sale will commence Vcitch and Allan’s rt 9.80 this morn'ng. The firm promises to eclipse all previous efforts. Several cheap lines in drapery are offered at Archer's, Cuba street. All descriptions of drapery and wearing apparel are sold at low rates by Queree Bros., Willis street. Ivirkcaklio and Stains are showing kimono opera wraps and gowns. Particulars are advertised of tho important sale of stud stock to be sold at Folding on June BSth by Dalg«ty and Co., in conjunction with Gorton and Son. . -