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MILLARS TIMBER AND TRADING.

Formerly operating chiefly in West Australia as Millars Karri and Jarrah Co., has now headquarters in London as Millars Timber and Trading Co. ït shows a loss on its last year's busi- ness of £173,703, including £11,137 trans- ferred to depreciation reserve. With, the deduction of £60,640 brought in the profit and loss account shows a debit of £113,122, which is carried for- ward. Our cable message says the Australian sales for 1931 were 46 per cent, below those of 1930, which, in turn, were far below the average.

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