KAURI TIMBER COMPANY.

Timaru Herald, Volume XIIC, Issue 13938, 25 June 1909, Page 5

KAURI TIMBER COMPANY.

HALF-YEARLY MEETING

FAIRLY PItOSPEUOUS TIMES. Puss As»ocia.twu-Jiy Xelegru|jh-Uopyr)ght Ueceivod 1.15 a.m., .Juno 25th. (SYDNEY, June 21. At the half-yearly meeting of the Kauri Timber Company, the chairman stated that no tloiilifc there would he some disappointment that the directors had not seen their way clear to declare uii interim dividend, in view of the. promise inside at last meeting to favourably consider that. Peccnfc reports had told of scanty opportunities of acquiring new kauri bush. As the. expenses for further tram lines and increased log stocks had absorbed all the company's available cash, the directors considered that if, in the shareholders' interests they could utilise the funds in that manner, they would ask them to wait for ;i. dividend till the usual animal meeting "in , December. Although there had been a considerable falling off in sales a reasonably prosperous year was anticipated. During the nine months, beside the payment '.>f £•16,000 for the dividend in December last, the company had had a special expenditure amounting to about £'94,000, none of which was chargeable to profit and loss, and as there were, further obligations they felt it unwise to declare a dividend at present. It was reassuring that the company's funds had proved sufficient to meet .those heavy demands, while there was still a sum in hand which they antipa ted would enable the directors to meet the further items of special expenditure they had in view*