COLONIAL SUGAR REFINING COMPANY, LIMITED.

Te Aroha News, Volume VI, Issue 315, 10 November 1888, Page 3

COLONIAL SUGAR REFINING COMPANY, LIMITED.

Mr W. W. Piiilson, acting Now Zealand manager for the abbvc Company, with which the New Zealand Sugar Company i s incorporated, notifies the payment* ot a dividend in terms of the following report, which was adopted at a meeting of shareholders held in 'Sydney on October 30th :—: — , The directors beg to submit, for the information of the shareholders, the following report on the business of the" Company for tho half-year ended 30th September, 1888 : The pro'h'ts made during that period, after providing for interest ■on the debenture stock and for all ofchet charges, amount to £55,051 10s Id, to which sum has to be added the balance at profit and loss account on 31st March, 1888, £50,570 8s 9d ; leaving available, £105,621 18s lOd. Frbta this amount the Board propose to appropriate — To payment of dividend at the rate of 7 per cent, per annum, .-£22,750 ; to replacement and depreciation fund/ £20,000 ; leaving at the credit of profit and loss account, £62,871 18s lOd : total, £105,621 18s lOd. The sales of refined sugar have been on a satisfactory scale, and the Board expect that the business during the present halfyear will be equally good. In Queensland and New South Wales the cane crops have been injured by the frcst and drought of the winter and spring, and at some of the Company's plantations losses may in consequence be incurred ; to meet this contingency .provision has been made. Tho ; Board recommend to the favourable consideration of the proprietors the resolution now to be submitted to them in respect of the issue of the remaining 10,000 shares in the Company. — Edward Knox, .Chairman.