COLONIAL SUGAR CO.

Press, Volume LXIII, Issue 19148, 3 November 1927, Page 10

COLONIAL SUGAR CO.

REPORT FOR HALF-YEAR. far CABLT—PHES3 associatiok—coptbioht.) (aCSTRAIAUI AND If-V CABLX ASSOCIATION.) (Received November 2nd, S.lO p.m.) SYDNEY, November 2. The balance-sheet presented at the Colonial Sugar Refining Company's meeting for the half-year ended September 30th last showed profits from the Australian mills and refineries totalling £244,154, and the earnings in Xcw Zealand and Fiji £232,363, from which it was proposed to jpay a dividend of 20s and a bonus of os per share, absorbing £368,625, and leaving £110,891, which, added to the balance of the profit and loss account, brings the total to £441,366, from which £IOO,OOO will be placed in the reserve fund. The report states that the 1928 crop in Australia is estimated at a total of 403.000 tons, of which 150,000 was sold to British and Caiiadian refineries. I>and had been purchased in Western Australia upon which it was proposed to establish a refinery. Referring to the anticipated shortagt of soft woods for paper making, the report states that attention is £>eiug jdven to the use of crushed cane for the production of paper. The Board £dds: "There are difficulties to be overcome, but it is said that a plant will be laid down in Queensland for testing purposes."

PRICE OF FERTILISERS. MR NOSWORTHY'S STATEMENT RESENTED. (THZ3B ASSOCIATION TELEGEAM.) DUNEDIN, November 2. Tho following is a copy of a telegram sent to-night by the Dunedin Chamber of Commerce to the Prime Minister with reference to certain •tatements recently made by the Hon. Mr Nosworthy (Postmaster-General): "At a meeting of the executive of the Chamber of Commerce this morning tho following resolution was passed:—'That this Chamber strongly protests against tho statement of Mr Nosworthy when discussing the Fertiliser Bill in saying that the South Island was getting the worst of the deal and that a certain named firm was rooking the South Island for all it was worth.' The meeting also connidtered that no Minister should take advantage of the privileges of the House to make drastic charges against »ny business firm." FREIGHT CHARGES ON FLOUR. (BT CABIJC—JBIBS ASSOCIATION— COPIMOHT.) UUSTBALUH AXD K.Z. CALLS ASSOCIATION) ADELAIDE, November 2. The _ Secondary Industries Commission, in its report, rocommends that the Commonwealth Government should be asked to make representations to the various shipping interests,' including the Commonwealth Government Linej with the object of abolishing the differential rate of 2s 6d a ton against Jlonr, so that it might be exported at the .same rate as wheat.

It also urges the removal of the.outward wharfage rate on flour in South Australia of Is 5d a short ton. BENEFICIAL RAINS IN N.S.W. <*r ca»ii—p»«3« AHsociATioir—corißiam) (AC3TEAUAK AND H.Z. CABLX ASSOCIATION.) SYDNEY, November 2. The reports.of agricultural inspectors in several wheat-growing districts show that the recent rains greatly improved the prospects, and many crops previously regarded as complete failures will bow give a fair yield. Peed supplies are also benefited. In other districts tho rain was insufficient to do much good. "

BURNSIDE MARKET. (raZ33 ASSOCIATION TFXEGBAM.) DUNEDIN, November 2. At the commencement of the lit cattle sale •t Burnsido to-day the prices given were •bove those of last week, while store cattle Generally showed no improvement. The smond for sheep wag Irregular. Pigs were •bout the same as previously. Fat Cattle—A yarding of 246. The Quality was of a varied nature, and included * generous proportion of plain sorts and a few extra prime bullocks and cows, and some heifers. The opening demand showed an imSrovement on last week's rates. Prices:— xtra heavy bullocks £l7 to £lB 10s, prime £l4 10s to £ls 16s, light £l2 10s to £l3 ss, belt heifers £9 5s to £lO 10s, light £7 15s to £8 15s, best cows £lO to £ll 15s, medium £8 15s to £9 10s. Store Cattle—There, was a small yarding ef store cattle, consisting of ordinary cows, s few yearlings, and two or threo pens of two to three-year-old bullocks. The prices thowed no improvement. . One pen ° of three and four-year-olds sold for £lO ss, and medium forward three-year-olds wont for £7 t>*. Inferior yearlings realised £2 10s. Cows were about the same, showing little •Iteration from last week.

Fat Sheep—A, penning of 2114. The entry was of mixed finality, comprising a considerable number of unfinished, a fair proportion of prime wethers, some prime ewes, and a Fpnnkllng of medium quality ewes. The demand wag somewhat irregular, but good generally for quality sheep. Light-mediums were • shade easier. Prices could be said to be practically the same as last week. A special pen of sheep sold for 655. Prices:— Prime heavy-weight wethers 55s to 575, light prime 42s to 43s 3d, medium 85s to 38b, nest heavy ewes 44s to 495, medium 23s to 235, light 25s 9d to 275. Lambs—A penning of 42. ' There was good quality in the penning. The demand was good and values were practically the same as at the previous salo. Prices:—Heavy prime lambs 42s to 475, prime 33s to 355, light SSs 9d to 28s

Pig*—ll6 fats and 180 stores wore penned. The penning revealed good quality pigs, which void at priced, if anything, a shade easier than last week. JOHNSONVILLE STOCK SALE. (rxSSS ASSOCIATION TILEGIUH.) WELLINGTON, November 2, At the Johnsonville stock sale to-day a leavy yarding-of sheep and lambs met with cood competition, and every pen changed Hands at prices on a par with the previous veek's quotations. A good quility yarding of both bullocks and young cows sold freely, prices being considerably better than last •ale. A few small vealers sold well. Bullocks brought £l2 15s to-£l3 15s, cows £B 2s 6d to £8 17s 6d, vealers 32 s to 50s. Wethers-realised 28s 3d to 335; ewes 21s to tls; lambs 24s to 27s 3d. j BUTTER PRICE REDUCED. CEeceived November 2nd. 10.35 p.m.) SYDNEY. Nbvember 2. The wboleeala price of butter has been reduced by a penny a pound to 196s a cwt.

CLEARING SALE. Jones, McCrostie Co., Ltd., held a successt. »5? rl of 8sl ° y ester day on account of Fife Slater, on the premises, ' Nayland !u ee *- 6uffl aer. Amongst the articles sold the following prices were realised:—Electric washer £3O. S dining chairs £4 10s, lawn 2? we^, £ ?„ 6, ' J dln;aw BWvle * & 10s, dinner *in j' . M ', te droom suite in N.Z. woods fi* !?/*<?* ble £Z 15s, lounge £5, chesA ,* d x ?'. **>»** «»binet £2 ss, easy chair *- 155, bedroom suite in oak £3O, rng £3, in. IC TS nite £ ]° la * 6i > electrolux £lO 10s, duehesso pair £6 ss, teaset £3.

SUGAR DUMPING.

BRITISH FEDERATION'S PROTEST. (BY CASLZ —PRESS ASSOCIATION— COPTBIGHT.) (SIDSEY "SCS" SEBYICE.) (Received November 2nd, 7.20 p.m.) LONDON, November 2. The British Empire Sugar Federation meeting discussed the situation 'arisiug out of the dumping of foreign sugars, which was regarded as grave. It was decided to-urge the Government to tako immediate action to prevent permanent injury to British refining and Empire sugar production. The meeting reaffirmed the necessity of the free entry of Empire sugar.

N.Z. APPLES ON SHOW. (EI CABLX—PP.SS3 ASSOCIATION —COPTEIGHT). (AUST3ALIAK ASD K.Z AND SUN CA3L3J LONDON, November 1. New Zealand is exhibiting at the Manchester fruit show choice Statesman and Sturmer apples, which have beer, in cold storage since July. Sixteen out of 20 cases were in excellent condition.

MEAT- BOARD'S POLICY. REPLY TO MB BEGG. Mr David Jones. 11.P., chairman of the Meat Board, in reply to statements made by Mr Begg, of Dunedin, with regard to the attitude of the Board towards the sale of freezing works iu New Zealand, saya the Board's policy is to prevent overseas concerns from acquiring any interest in meat works without its approval. In one instance the Board gave its approval, but declined to countenance the sale of another works in a key position on the ground that it would be unjustifiable to allow them to pass out of the hands of New Zealand interests. "According to the Press report," said Mr Jones, "Mr Bcgg raises the question of the South Otago works and makes a very careful and deliberate charge against the Board and the Government for depreciating the value of these works. The Board has had no occasion to consider his company's works, but my own opinion is that. if his company had an offer to purchase their works and on application was made to . tho Government for a transfer, the Board would recommend that the application be granted, because the situation of these works is such that it could not be looked upon as one that would materially affect the position or come in conflict with the. Board's policy. There are a number of other works situated in New Zealand in similar circumstances, and no possible injury to the Now Zealand producers could result from their sale to any purchaser, and consequently the Board would not be justified iu refusing to recommend a transfer of the license. "I decline to accept the charge that Mr Begg and others have levelled' against the Board, but desire to place the whole facts in front of the people of the Dominion, aud am perfectly satisfied to accept the < verdict of the producers. The Board does not wish to do any injustice, nor..Jias it done so, but the job that nas been given to it, and which is of .paramount importance, is to safeguard the interests of the farmers' of New Zealand and to see that the man who actually produces the beef, mutton, and lamb, is under no undue handicap in the strenuous 'competition in the world's market in virhicli we have no protection." •