COLONIAL SUGAR COMPANY.

Taranaki Daily News, Volume LIII, Issue 172, 29 October 1910, Page 5

COLONIAL SUGAR COMPANY.

TREMENDOUS PROFITS. By Cable. —Press Association. —Copyright. Sydney, October 28. At the half-yearly meeting of the Colonial Sugar Befinicg Company the report, which was read, showed profits of £106,714, to which was added the balance of £115,971. i A dividend at the rate of 5 per cent, .for th? half-year was declared, leaving £JI7O.ISO to the credit of the profit and loss account. The report stated that the hurricane in Fiji had damaged the crops, but the Queensland crops exceeded the estimate. The prospects for next year's crop were satisfactory. The profits of the company's business in Fiji and New Zealand had been £70,000. The chairman announced that as -the balance after paying dividend was now credited with £150,000, it was proposed to add this amount to the paid-up capital in the same manner as was adopted in 190S, and it was proposed to issue 1500 shares of £2O each, carrying a dividend from the Ist instant. Such shares would be offered to shareholders in the proportion of one to every nineteen held by them on November 15 next, at which date £150,000 would bo taken from profit and loss and divkb-d anioiia'st the shareholders in proportion to their respective holdings. The report and resolutions dealing with new shares were adopted.