COLONIAL SUGAR COMPANY.
SYDNEY, October 30.
At the half-yearly meeting of the Colonial Sugar Company, the profits for the past six months were shown to be £85,000, to which is to be added £89,000, balance of previous half year. A dividend of 10 percent, per annum was declared, and £89,000 carried forward. The Chairman stated that in consequence of the removal of the duties the company had cancelled contracts with canegrowers in New South Wales, but would continue to crush during the season 189S and 1599. When the mills were closed they would have to write oil £450,000. This added to the loss of the millowners and the depreciation of the value of the land in the sugar districts meant a loss to the colony by the end of 1899 of a million pounds. If, however, federation became an accomplished fact, the industry would be able to take care of itself, as the duty under the federal tantt was certain to be sufficient to enable them to continue growing cane.
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Auckland Star, Volume XXVIII, Issue 253, 1 November 1897, Page 5
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170COLONIAL SUGAR COMPANY. Auckland Star, Volume XXVIII, Issue 253, 1 November 1897, Page 5
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