COLONIAL SUGAR CO.

Dominion, Volume 5, Issue 1428, 1 May 1912, Page 5

COLONIAL SUGAR CO.

HALF-YEARLY MEETING. By Teieeraph—Press Association—Copyrlefct (R«c. May 1, 0.30 a.m.) Sydney, April 30. At tho half-yearly meeting of the Colonial Sugar Refining Company tho report showed profits on Australia .£120,602, Fiji and New Zealand .£105,000, to which must bo added the balance brought forward, 3:123,(43, leaving available- .£319,045. Tho dividend at tho rate of five per centum for tho half-'year was declared, absorbing and the payment of a bonus of ss. per share, equal to .£37,500, leaving to credit of profit and loss .£151,5*45. The chairman elated the scarcity of sugar throughout tho world would last for a few months, but the position was very uncertain. Both. in Queensland and Fiji the weather conditions were affecting the next crop which had been adverse, a sharp drought followed by cyclonic storms. Tho crops would be below the average .of the 1911 crop, which was produced at moderate cost, considering tho disturbed industrial position in May. Proceedings wero to be taken against them in New Zealand on the ground that the present conditions of sale contravened a recent Act, by tho allowance of higher discounts to wholesale firms doing a larger share of trade than their neighbours, who cannot reach tho same standard. If the court makes an alteration in the existing conditions, there would bo some disturbance in trade, but it did not seem possible that this would damage the business, anyway.