PROSPEROUS REPORT.

Wairarapa Age, Volume XXXII, Issue 10131, 29 October 1910, Page 5

PROSPEROUS REPORT.

COLONIAL SUGAR COMPANY

Received Yesterday, at 10 a.m

SYDNEY, October 28,

At the half-yearly meeting of the Colonial Sugar Refining Company, the profits were reported to be £196,714,' to which had to be added balance of £115,971. A dividend at the rate of 5 per cent, for the half year was declared, leaving £170,180 to credit of profit and loss account. The report stated that a hurricane in Fiji had damaged the crops, but the Queeasland crops were exceeding the estimate, and the prospects for year's crop were satisfactory. The profits of the Company's business in Fiji and New Zealand had been £70,00 C.

The Chairman annouced that as the balance after paying the dividend would now be credited at £1 50,000, it was proposed to add this amount to the paid-up capital in the same manner as was adopted in 1908 It was proposed to issue 7500 shares at £2O each, carrying a dividend from the Ist inst Such shares would be offered to the shareholders in the proportion of one to every nineteen held by them on November 15th next, on which date £150,000 would bo taken from profit and loss and divided amongst the shareholders in proportion to their respective holdings. The report and the resolutions dealing with the new shares were adopted.