COMPANY AFFAIRS.

Auckland Star, Volume LXIV, Issue 249, 21 October 1933, Page 4

COMPANY AFFAIRS.

COLONIAL SUGAR CO. ENLARGING ITS SCOPE. Proposals arc to bo submitted to shaveholders in the Colonial Sugar Refining Co. at a special general meeting in Sydney on November 8, whereby the company will have greater freedom to extend its activities and its avenues for investment beyond its present sphere and territory. In a circular to shareholders the directors state that "the ramifications of the company are already so distributed that it makes it necessary to have greater freedom of action, whether inside or outside Australia, New Zealand and Fiji." VICTORIA NYANZA SUGAR. DETAILS OF CRUSHIXGS.' (By Telegraph.—Press Association.) WELLINGTON, Friday. A cablegram received by the V ictoria Nyunza Sugar Co., Ltd., from its plantations, states that the cane crushed to October 14 was 22,693 tons; sugar manufactured, 1660 tons; process, 58 tons. The plantations have been clear of locusts since the last cablegram. The weather'is favourable. NEW ZEALAND PAPER MILLS. INTERIM DIVIDEND 3 P.C. (By Telegraph.—Press Association.) DUNEDIN, Friday. The directors of New Zealand Paper Mills have authorised the payment of an interim dividend of 3 per cent. This is the same rate as was paid for the first half of last year, the final distribution being 4 per cent, making 7 per cent for the year. BROKEN HILL SOUTH. INCREASED DIVIDEND. Further details of the accounts of Broken Hill South, Ltd., show that the dividends for the year ended June 30 equalled 15 per cent, compared with 10 per cent in 1932, and 7% per cent in 1031. Net profit at £240,673 compared with £117,226 and £50,276 in 1932 and 1931 respectively. This year's dividend absorbed £120,000, and £45,000 was appropriated for plant and development, leaving £231,000 to be carried forward. Excluding mine and plant and shares in other companies (the latter costing £674,892), assets show a surplus over liabilities of £765,557. The directors report that the improved financial results were due mainly to a substantia! reduction in working costs. Mining, development and treatment costs fell to 25/10.8 a ton of crude ore from 30/3.1 a ton on .the year. Ore reserves are estimated at 3,500,000 tons.