THE COLONIAL SUGAR COMPANY

Wanganui Herald, Volume XXXXVI, Issue 13521, 1 November 1911, Page 5

THE COLONIAL SUGAR COMPANY

HALF-YEARLY REPORT. Press Association.—Telegraph.—Copyright. SYDNEY, October 31. At the half-yearly meeting of the Colonial Sugar Refining Company, the report showed the profits for Australia as £115,829, and for Fiji and New Zealand £95,000, to which is added the balance of £77,013, making £288,443 available for the half year. A dividend of 10 per cent, for the year was declared, absorbing £150,000, and a bonus of 2s per share, absorbing £15,000, leaving £123,443 to carry forward. It was stated that heavy rains and floods in Queensland and Fiji, followed by exceedingly dry weather, had done much damage to the graving crops. The partial failure of the beet crop in Europe bad caused an advance in prices, but there was no reason to suppose a permanent advance had been or will be established. The chairman, in 'moving the adoption of the report, referred to the appointment of the Sugar Commission. The company in due course would state its views on the situation, in order to silence those who attacked it. They would set forth more fulb- than they had yet. done the position. That they should bo compelled to do so was a grave wrong, but Parliaments had now lost sight altogether of the liberties of the community. The action of, the Commissioners in refusing to allow the company to be represented by counsel could not be defended by either precedent ■or justice. The Queensland strike hack caused a small loss in connection with the mills, but they were able to keep running, so that the production while the strike lasted was little below normal. In the settlement effected the company had no part, but nothing could be gained by discussing the details. ' Notwithstanding the rise in prices, the company in June sold manufacturers’ supplies for the year at a rate which,gives them sugar duty paid below' what their competitors in Britain have to pay in bond.