Export Markets for Wood Products.

According to Mr. R. St. Barbe Baker, a forestry expert of wide experience, America has cut seven-eights of her forests; while one-half of the remaining area was in reserves. Thus U.S.A. is working on its last sixteenth, and must look for further supplies from outside sources. America will be looking to New Zealand as a source of supply later on.

There will be large export markets for the products of the forests established by N.Z. Perpetual Forests Ltd.^*