COLONIAL SUGAR CO.

Press, Volume LXVIII, Issue 14343, 1 May 1912, Page 9

COLONIAL SUGAR CO.

A PROSPEROUS HALF.YEAIt

Uwited Press Association—By EJoptrif. Telegraph—Ct>i>y rijjn t. (Received Mny Ist, 19.3 a.m.) SYDNEY, April 80. At the half-yearly meeting of tho Colonial Sugar Company, tho report showed that tho profits in Australia were £120,1)02, pn d in Fiji and New Zealand £103,000, to which had to be added a babneo of £123,413. leaving available £3H),045. A dividend at tho rate of iivo per cent, far tho was declared, absorbing £150,000, *nd payment of a bonus of 5s per share, equal to £37.500, leaving ;v credit to profit and loss of £101.5i0. Tho Chairman stated that tho scarcity of sugar throughout tho world would last for a few months, hut tho position was very uncertain. Both in Queenslaud and Fiji the weather conditions were affecting the next crop. They had been adverse, a drought heing followed by cyclonic storms. Tho crops would be below tho average of J9U. The crop was produced at moderate cost, considering the disturbed industrial position. In May proceedings would bo taken against them in New Zealand, on tho ground that tho present conditions of sale contravened a recent Act by tho allowance of higher discounts to wholesale- firms doing a larger slia.ro of trade than thejr neighbours who could not reach the same, standard. If tho Court made on alteration in existing conditions there would bo some disturbance of trade, but it did not seem, riossiblo that this would damago business in any way.