COLONIAL SUGAR CO.

Taranaki Daily News, Volume LIV, Issue 112, 1 November 1911, Page 5

COLONIAL SUGAR CO.

HALF-YEARLY MEETING. By Cable—Press Association—Copyright. Received 31, 11 p.m. Sydney, October 31.

At the half-yearly meeting of the Colonial Sugar Refining Company the report showed the profits in Australia to have been £13,82!), and in Fiji and New Zealand £95.000. to which were added the balance of £77,013, making a sum of .€288.443 available for the half-year. A dividend of 10 per cent, for the year was declared, absorbing £150,000, with a bonus of 2s a snare, absorbing £15.000, leaving £123,443 to carry forward.

It was stated that the heavy rains and floods in Queensland and' Fiji had been followed by exceedingly dry weather, which had done much to damage the growing crops. The partial failure of the beet crop in Europe had caused an advance in prices, but there was no reason lo suppose that a permanent advance had been or will be established.

The chairman, in moving the adoption of the report, referred to the appointment of the Sugar Commission. The company in due course would state its views or the situation in order to silence those who attacked it, and set forth more fully than it had yet done the position. That it should be compelled to do so was a grave wrong, but Parliaments now lost sight altogether of the liberties of the community. The action of the commissioners in not allowing the tfrmipany to be represented by counsel could not bo defended either h v precedent or justice. The Queensland strike had caused a small loss in connection with the mills, but they were able to keep running, so the production while the stride lasted was only a little below normal Tn the settlement effected the company had no part, but nothing could be gained by discussing details now. Notwithstanding the rise in prices the company m June sold manufacturers' supplies for the year at a rate which gives them sugar, duty paid, below what their competitors in Britain have to pay in bond