COLONIAL SUGAR COMPANY

Taranaki Daily News, Volume LIV, Issue 258, 1 May 1912, Page 5

COLONIAL SUGAR COMPANY

A PROFITABLE YEAR. AN UNCERTAIN FUTURE. By Cable—Press Association—Copyright. Received 1, 12.30 a.m. Sydney, April 30. At the half-yearly meeting of the Colonial Sugar Co., the report showed profits in Australia of £120,002 and in Fiji and New Zealand of £105,000, to which must be added a balance of £123,443, leaving available £349,045. A dividend at the rate 'of 5 per cent, for the half year has been declared, absorbing £150,000, with a payment of a bonus of os per share, equal to £37,500, leaving a credit to profit and loss account of £151,545. Tile chairman stated that the scarcity of sugar throughout the world would last for a. few months, but the position was very uncertain. Both in Queensland and Fiji the weather conditions were affecting the next crop. There had been an adverse sharp drought, followed. by cyclonic storms. The crops would bo below the average. The 1911 crop was produced at a moderate cost, considering the disturbed industrial position. Tn May proceedings would be taken against them in New Zealand on the ground that the present conditions of sale contravened a recent Act, by the allowance of a higher discount to wholesale firms doing a larger share of the trade than their neigliobrs, who cannot reach the same standard. If the court makes an alteration in existing conditions there would be some disturbance of trade, but it did not seem possible that this would damage business in anyway.