KAURI TIMBER COMPANY

Otago Witness, Issue 2988, 21 June 1911, Page 39

KAURI TIMBER COMPANY

MELBOURNE, June 15. At the half-yearly meeting of the Kauri Timber Company the chairman, in declaring a dividend for the half-year at the rate of 8 per cent, per annum, referred to his statement at the previous meeting regarding the falling off in profits last year, which he attributed to their having cut up a larger quantity of inferior logs. He thought that in the future their output would be a diminishing one, and the figures for the last six months showed that his anticipations were being realised. They were now in a position to keep their mills supplied with a better' average of logs. In anticipation of the exhaustion of kauri bush in the not very distant future, it had been the policy of the company for some years past to strengthen their interests in other New Zealand timbers, with a view to protecting the life of the company. Recent rains in New Zealand had brought down a supply of logs, enabling the company to start some of the idle mills and keep going for a few months.. Business during the past six months had been very active, and sufficient orders were in hand to lead the company to expect that the turnover for the year would be considerably in excess of that for last year. The report was adopted.