SUGAR QUOTAS

Evening Post, Volume CXXVII, Issue 118, 22 May 1939, Page 9

SUGAR QUOTAS

INCREASES TO BE MADE

239,000 TONS RE-ALLOTTED

VOTE BY COMMITTEE

(Received May 22, noon.)

LONDON, May 21

A communique reveals that the International Sugar Council, by 80 votes out of 95, agreed to re-allot 239,000 metric tons of sugar to countries which reduced their export quotas in July, 1938. The re-allotment operates immediately, as follows:—Cuba, 72,561 tons; Dominica, 20,707 tons; Haiti, 2170 tons; Holland, 62,606 tons; Russia, 65,956 tons; Australia, 7500 tons; South Africa, 7500 tons. Any portion of these quantities which is surrendered will be re-allotted pro rata to the countries able to use it. The council is to meet in June to consider a recommendation regarding an increase in the British Dominion and colonial quotas by 153,265 metric tons.

COLONIAL SUGAR

PROFIT OVER £1,000,000

DIVIDEND UNALTERED

(Received May 22, 1.20 p.m.)

SYDNEY, This; Day. The Colonial Sugar Refining Company reports a net profit of £1,005,670 for the year ended March 31. For the first time the accounts cover a full year in accordance with the alterations to the articles made last year. The dividend is maintained at 7£ per cent., which requires £877,500. After placing £100,000 to the reserve, there is £463,144 to be carried forward. The reserve now amounts' to £ 1,050,000.

The directors stated that as expected, the output from, the company's mills was lower than for. the previous year, and that adverse weather has delayed planting for next year, and it is now too late to complete the whole programme.