KAURI TIMBER CO.

Gisborne Times, Volume XXIX, Issue 3246, 16 June 1911, Page 5

KAURI TIMBER CO.

A FAVORABLE OUTLOOK.

DIVIDEND OF EIGHT PER CENT.

[UNITED PRESS ASSOCIATION—COPYRIGHT. (Received June 15, 11.25 p.m.) MELBOURNE, June 15. ' At the half-yearly meeting of the Kauri Timber Company, the chairman, in declaring a dividend for the halfyear of eight per centum per annum, referred to a statement made at a previous meeting regarding the falling off in profits last year, which he attributed to their having cut op a large quantity of inferior logs. He said he thought in the future, although there were still some of the same logs to clear up, their influence on the output would be a diminishing one. The figures for the six months showed that their anticipations were being realised, and they were now in a position to keep the mills supplied with a better average of logs. In anticipation of the exhaustion of the kauri bush, at a 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 protract the life of the Company. The recent rains in New Zealand had brought down a supply of logs, enabling them to start some idle mills, and keep them going for a few months. The business during the past six months had been very active, and sufficient orders were to hand as to lead them to expect a turnover for the year considerably in excess of last year. The report was adopted.