NEWSPRINT PROFITS.
Foreign competition notwithstanding, Mr. A. Ralph Reed, Chairman and Managing Director of Albert E. Reed and Co., was able, at the recent annual meeting, to present a very satisfactory report to the Directors. In the course of his address, Mr. Reed explained that the greater part of the Company's production was exposed to the full force of com- petition from abroad, and the Home market, he said, had become more than ever the happy hunting ground for suppliers Overseas who were quick to recognize the improved demand for various classes of paper in this market as compared with the state of comparative stagnation existing in most other export markets of the world. In spite, however, of this competition, the Chairman stated that the increase in profit continued and that the Company was in a stronger and sounder position today than ever before, and was able to withstand the effect of less favourable conditions while they lasted, and to reap the full benefit of better times when
they came round. •
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