COLONIAL SUGAR PROFITS.

Taranaki Daily News, 5 November 1920, Page 6

COLONIAL SUGAR PROFITS.

by legislation!^*^ 'By Telegraph.—Press Association. Sydney, Nov. 3. , At the half-yearly meeting () f the Col- j onial Sugar Refining Company of Aus-1 tralia it ifas announced that the net profits for the six .months ended September 30 last amounted to £140,401, which, with £25,1.90 received as dividend on shares in the Fiji and New Zealand Company, made a total of 171,042. A dividend of (it per cent, per annum, absorbing . £105,(125, and a bonus of 4s per share, absorbing £32,500, were declared; the sum of £33,',>10 being carried forward. ft was officially announced that the Fiji and New Zealand Company intended to ask the Fiji court for leave to return to shareholders £lO a share, equivalent to £1,025.000, and also proposed to pay a premium of 255, together with (i per cent, interest on the £lO 'from October Ist. The chairman declared that, if the Profiteering Prevention Bill now before Parliament became law in its present form, it would be. necessary for the company to wind up its refining works iu New South Wales. Such a. trade, involving enormous purchases at long dates, could not, possibly continue if selling prices were>o be fixed by any ollicial board.