AUSTRALIAN NEWS.

Hokitika Guardian, 8 May 1924, Page 3

AUSTRALIAN NEWS.

AUSTRALIAN AND N.Z. CABLE ASSOCIATION. SUGAR COMPANY. HUGE PROFITS. SYDNEY. May 8. At the annua! meeting of shareholders of the Colonial Sugar Coy., Mr Knnx submitted accounts covering the year to March 01st. the first to he presented since the reversion of the assets of the Fiji Coy. to the present business. The net profit for the period amounted £073.03(1. Of this. £302.•110 was contributed by Australian mills and refineries, and £IOO.OOO by investments subject to Federal income tax. while the earnings in New Zealand and Fiji from other investments not subject to Federal tax amounted to £172.130. The balance brought into tlie accounts was 2320.710, making It total of £1.000,355 available. An interim dividend at the rate of 25s per share to 30th. Sept, absorbed £203,125 and it was proposed to pay a final dividend of 20s per share, taking £213,750. The sum of £250.(X)0 was transferred to reserve and the balance C 303.-180 carried forward. In .March last it was decided to increase the authorised capital from four mlilious to seven millions. by the creation of 150.000 new shares of L'2o each, and also to increase the paid tip capital from C 3.250.000 to £1.875,000 by capitalisation nf £1.025.000 received on account of the liipiidation of the Fiji Company. The latter sum was distributed ill proportion of one £2O fullv paid up share for every two shares held. For the half-year ended March, the Australian Coy showed a net profit- of £251,305.

WYRALI.AII-DILKERA COLLISION. THE C’Ol'RT’S FINDING. (Received this dav at 10.25 a.in.) MELBOURNE, May 8. As a result of the inquiry into the 'Wyrallah-Dilkera collision on April Bth.. the Mai ino Court considered that tin l master of the Dilkcrn should have taken additional steps towards attempting to save the lives of those left on the Wyralhih by throwing over lifebuoys with lights ami displaying the signals mentioned in the navigation collision regulations. The Court found Hint the primary cause of the collision was due to the action o! the master m the Wyralhih in leaving his sale anil proper course and steering across the course of the Dilkcrn and that the master of the Wvrallah committed a breach of the regulations.

MEi.ROI'RNE TRAM STRIKE. MELBOURNE. .May -S. There is no sign of the ending of tlie tramway strike. The Arbitration Court which was expected to intervene inis not yet done so. ’I lie public generally are suffering acute hardship in reaching their places of business in the