AUSTRALIAN NEWS.

Taranaki Daily News, 31 October 1918, Page 5

AUSTRALIAN NEWS.

COLONIAL SUGAR CO.'S PROFITS. Received Oct. 30, 10 p.m. Sydney, Oct. 30. At the half-yearly meeting of the Colonial Sugar Company the nett profit shown was £115,884. The total profit, including dividend on shares of the Fiji and New Zealand Company, was £137,810. A dividend of 0J per cent, was declared. The chairman reported that the dry, cold weather of the autumn and winter reduced the crop by a third of that obtained in 1917. The Federal Government has taken over the 1918-19 crops under an agreement which forbids further proceedings ■under the price fixed in the scheme for nearly two years. Mr. Holman is relinquishing the treasuryI ship; and Mr. Fitzpatrick was appointed ; thereto.—Aus. and N.Z. Cable Assoc. BANKING AMALGAMATION. Received Oct, 30, 8.30 p.m. Melbourne, Oct. 29. A special meeting of shareholders of the Colonial Bank of Australia agreed i to its winding-up, prior to amalgamation [ with the National Bank of Australasia. DEPARTMENTAL INVESTIGATIONS. Received Oct. 30, 8.50 p.m. Melbourne, Oct. 29. Following the attacks in Parliament upon the Federal Government regarding the report of the Royal commission on the Navy administration, and the i subsequent representations from the | chairman of the commission, Mr. Watt stated that he had agreed to the request of Mr. J. A. Jensen (Minister of Customs) to be relieved of the duty of administration of the Customs Deuartment until the completion of the investigations. These investigations refer to the purchase of the Shaw wireless works at Rand wick for £55,000 by the Navy Department in 1910, when Mivi Jensen was Minister of the Navy.—Aus, | and N.Z. Cable Assoc.