BIG SUGAR.

Shannon News, 9 May 1924, Page 4

BIG SUGAR.

COLONIAL SUGAR COMPANY’S FINANCE. (Received Thursday, 2 a.m.) SYDNEY, May 7. ‘ At the annual meeting: o,f shareholders of the Colonial Sugar Company, Mr Knox, the chairman, submitted accounts covering the year to March 31, the iirst to be presented since the reversion of the assets of the Fiji Company to present business. The net profit for the period amounted tb £673,439. Of this £392,410 was conu tributed by Australian mills and refineries and £109,090 by investments. This was subject to Federal income tax, whilst earnings in New Zealand and Fiji and from other investments not subject to Federal tax amounted to £172,139. The balance brought into accounts was £326,716, making a total of £1,000,355 available. An interim dividend at the rate of 25/- per share to September absorbed £203,125 and it was proposed to pay a final dividend of 20/- per share, taking £243,750 The sum of £250,000 had been transferred to reserve and the balance of £303,450 carried forward. In March last, it was decided to increase the authorised capital from four millions to seven millions by the creation of 150,000 new shares of £2O each and also to increase the paid up capital from £3,250,000 to £4,875,000 by the capitalisation of £1,625,000 received or account of the liquidation of the Fiji Company. The latter sum, was distributed in the proportion of £2O fully paid up shares for every two shares held for the half year ended March. The Australian Company showed a net profit of £251,395.

CONSERVATIVES ACCEPT LABOUR CHALLENGE. MORE VIGOROUS OPPOSITION. (Received Wednesday, 7 p.m.) LONDON, May .7. The "Daily Telegraph’s" Parliamentary correspondent understands that a meeting of Conservative leaders decided that the time had arrived for a more vigorous policy against the Government. The Labourites’ challenge that tlicir opponents dare not defeat them, because they do not want au election themselves, will be taken up