TAUPO. TIMBER COMPANY

Waikato Times, Volume 106, Issue 17837, 9 October 1929, Page 7

TAUPO. TIMBER COMPANY

THE ANNUAL REPORT. j j The annual report of the Taupo Totara Timber Company, for the year I ended April 30, shows a net profit of j iff 1,390 as against £7OIB in the prej vious year. After payment of the pre- | ferencc dividend of 7 per cent., abj sorbing £8292, there remained £3lOl j to be added to the balance in Hie pro|nt and loss account, which now ! amounts to £22,470. j During ihe year the company lost- ! its main sawmill at Mokai and some ! trucks and timber by fire. As the as- ' sels destroyed had been heavily ! written down there was a surplus of £5950 of Hie Insurance over book values, and Ibis amount has been placed on a reserve account. A new mill, costing £13,000, is to be completed this month. The company contemplates a large outlay on renewal of bridges and parts of its railway. The company's paid up capital is £293,561, comprising £118.157 in preference and £175,107 in ordinary shares. The latter received 6 per cent, in 1926 and 3 per cent, in 1927. Its only liabilities are £1045 to sundry creditors and £2IOO in taxation reserve. Assets totalled £328,729, including properties, £76,208; buildings, £5346; railway and extension, £101,572; plant, £20.615; slocks, £26,317; debtors, £27,953; and investments, £60,015. Tlie last item shows an increase during Hie year of £19,915.