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Despite severe damages dealt over the last year to the timber industry by an ailing housing market, the overall message at Deltic Timber’s annual shareholders’ meeting Thursday was one of optimism.

Robert C. Nolan, Deltic’s chairman of the board, opened the meeting by giving attendees a brief overview of the meeting’s purpose.

“Today is a day of accountability,” Nolan said. “Shareholders are the owners of this company, and we welcome the opportunity to stand before you today and update you on the state of your investment.”

Nolan then recognized ...