Australian
MELBOURNE, Nov. 23. At the annual meeting of the New Zealand Kauri Timber Company the chairman sweepingly condemned the extravagance and laxity of the administration and want of cohesion of the New Zealand management, which would, he said, prove ruinous if it were allowed to continue. The directors, consequently, had directed the closing of the mills, although this was not absolutely necessary. As regarded the financial position of the company, though there had been a loss of L 44,000 on the year's transactions, they had, after deducting debts, assets amounting to L 940.000, equal to LI 13s 3d for every pound invested, and about LI 3s lOd for every pound of paid-up capital. The report was adopted.
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Bibliographic details
Southland Times, Issue 11901, 24 November 1891, Page 2
Word Count
118Australian Southland Times, Issue 11901, 24 November 1891, Page 2
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