GENERAL CABLES.

Taranaki Daily News, 2 May 1917, Page 5

GENERAL CABLES.

COLONIAL SUGAR COMPANY'S PROFITS. Australian-N.Z. Cable Association. Sydney, April 30. At the half-yearly meeting of. the Coldnial 'Sugar Refilling Company the report showed that for the six months ended March 31 the nett profits, including £7500 paid as dividend on shares in the | Fiji and New Zealand company, totalled £146,758. A dividend of (U per cent, per annum was declared, absorbing £105,025, the balance being carried forward, making a total balance of £02,085. It is anticipated the Queensland crop will be very large, and the production is expected to exceed the consumption in Australia The Commonwealth Government proposes to again take over thS sugar output and mako arrangements for its handling in the company's refineries. The report of the Fiji and New Zealand company for the year ended March 31 shows the nett profits as whereupon the September dividend, totalling £105,000 is to be deducted, .leaving £235,200 for distribution, wherefrom it is .proposed to transfer £IOO,OOO to the dividend reserve fund, and pay a dividend of six per cent, on both preference and ordinary shares absorbing £'105,000, and carry the balance forward, making the total balance £5(1,1)31. The whole of the dividend reserve is now invested in Fiji, New Zealand and British war loans. The crop in 1916 was very heavy, and on the whole the results are satisfactory. This year.'s crop should give an average in the field, though it suffered by the heavy rain. The report adds that there lias been no improvement in the prospects concerning Indian labor, but it is hoped the conference in London next month may secure a better understanding. Until'this is secured it would be unwise for the company to increase its papital invested in Fiji. The agre&ment with the New Zealand Government about the supply of refined sugar ends in June, but arrangements will probably be concluded for an extension.