SUGAR INDUSTRY.

Dominion, Volume 7, Issue 1893, 30 October 1913, Page 7

SUGAR INDUSTRY.

COLONIAL COMPANY'S MEETING. By Telegraph—Press Association—Copyright (liec. Octobcr 30, 0.25 a.m.) Sydney, October 29. At the half-yearly meeting of tho Colonial Sugar Company, the chairman, in his speech, referred to the fact that the abolition of tho excise duty had made it necessary to pay much more for sugar when it was shipped. This meant putting much more capital iiito tho refining business than had hithorto beon the caso, and the balancc-shect wouTd be affected accordingly. _ Dealing with tho dismissal of tho appeal lodged against tho judgment of tno New Zealand Court in regard to the payment of discounts to wholesale houses, he said that tho directors had decided not to take tho caso to tho Privy Council. They hoped to make some arrangement; .that would eliablo them to again deal on reasonable terms witli the .loading firms in the Dominion, where ths trade had suffered so muph from the operation of the Commercial Trusts Act. It had proved a singularly ■ unwise pieco of legislation. . Thero had been no falling-off in the Now Zealand trade in consequence of tho prosecution, but in Australia tho company was concorncd about tho increase in its refining expenses. -.The return from that side was 'already' too small m proportion to the capital invested. The new tramway at Fiji, he concluded, was enabling tho company to increase its output. Ho condemned the Bill now boforo the Queensland Parliament for fixing tho prieo to bo paid for cane.