Page 13 Advertisements Column 3

Press, Volume XCI, Issue 27695, 27 June 1955, Page 13

C.S . R . C O.’S REPORT Points from the Chairman’s Centenary Year Address to Shareholders jOBBS • Record Australian raw sugar production. dM • Drought reduces Fiji raw sugar output. * • Increased sales of building materials in sir Edward Knox Australia. founder of the C.S.R. Co. The year 1955 marks the Centenary of ~~~ ~ The Colonial Sugar Refining Company C.S.R. CO. IS Limited, Mr. E. R. Knox, Chairman of 100 YEARS OLD | Directors of the Company announced in • L- x JJ ... This is the Company s Centenary hiji recent address to shareholders. year. The Company was formed on the Ist January, 1855, to take over ' Mr. Knox said that pro- New Zealand the business of the Australasian duction for the whole Aus- . Cnmnanv which had comtralian raw sugar industry Sales of refined sugar bUgar Company, wnicn nan com in 1954 was a record products from our Auck- menced refining sugar in Sydney in 1,285,000 tons. This was land refinery were 95,600 1842. Sir Edward Knox, who had 72,000 tons higher than tons, as compared with been manager of the Australasian the previous record produc- 96,000 tons for the previous Sugar Company for some years, was tion in 1953. year. Arrangements have Chairman of Directors and one of The output from C.S.R.’s “ ad ® ts the principal shareholders of the n a raW r«o 8 rd ol —rn districts of New Colonial Sugar Refining Company 255,000 tons, despite a poor Zealand to hold reserve when it was formed. CI T so°ensure sup- The new Company experienced great only 24,700 tons. C.S.R. periods of transport difficulties in its early days, mainly beowns 7of 34 Australian P*? P erlo<ts ° p cause of i im ited capital and the vagaries mills. ■' s of the world’s raw sugar markets. After some hard lessons from this kind of exRulk Handlina Sales of Distillery perience Sir Edward Knox followed a r » 3 Products Increase policy of holding a proportion of the of Raw Sugar rroauers me ease p arnings in the business. The share- _ . , , , J. Sales of industrial alco- holders received a meagre dividend indeed Equipment for unloading ho] an(J other p roduct s are by the standards of the times, but the and handling raw sugar in increas j ng and plant ex ten- pojicy of ploughing back earnings was bulk from ships at our sjons t(j kegp pace are being ma i n t a ined throughout his lifetime and Sydney refinery has been p ] anned . gave the Company, in due course, a degree completed, at a cost of O £ stability which its predecessors and about £BOO,OOO. The first in- many of its contemporaries did not ter-state vessel to deliver a Record jOleS Or possess. bulk raw sugar cargo at the Buildina -Materials In 1869, the Company erected several refinery arrived in May and raw sugar mil ] s on the Macleay and Clarthe bulk handling arrange- value of sales of our ence Rivers in Northern New South ments worked satisfac- building materials was Wales. The pioneering of cane growing torily. 24% higher than for the and of the raw sugar industry then takprevious year and passed ing place was mainly by planters who Drouaht Reduces £4m. mark. operated their own small mills. The FiU Prospects for the current Company’s new mills were larger and Production year re good , as house were supplied with cane by independent °7 r A fiV %q m nnn F ’ j j rel'sonfble C< l?ve n i U l S nd there the early 1880’s, the Company produced 133,000 tons of reasonable level and there bui]t a number of larE(? up _ to . date mills raw sugar in 1954. This activity in Qu£ensland and Fiji and a refinery was disappointing after the “e oft.ee and commercial Auckland _ New Zea l an d. About the record output of 190,000 • same time, several industrial chemists tons from the Colony in the were engaged from Europe and instituted previous season. A severe C.S.R. Chemicals a system of chemical control which drought during the last half p . . resulted in large savings of sugar during of 1953 seriously affected rry. L.TQ. manufacture. This, with the selfthe growth of cane and re- rp Board has just financial resources and good duced its tonnage. concluded a second hearing management, enab’-d the Company to of C.S.R. Chemicals’ appli- survive the sugar slumps of the 80 s and Refined Suaai* cation for assistance for general depression of the 90s, when Sales in Australia ce ll ulioSC acetate production, many less efficient mills were forced to Demand for all other the first ten years in Q uccns ] andt Sales of sugars and chemicals continued at a although not j n New South Wales, the syjups from our five Aus- high level throughout the Company adopted the current practice in tralian refineries for the year and extension is tak- the nort hern industry of growing cane year ended 31st March, mg place at both the Lane on its own p ] ant ations. But in the early 1955, totalled 478,000 tons Cove and Rhodes factories. 9(fa the Company adopted in Queensland as compared with 460,000 New plant for the pro- the same system of small farms which it tons for the previous year, duction of polystyrene, an had pioneered so successfully since 1869 Refinery expansion and important plastics material, in Northern New South Wales. improvement is continuing was recently brought into Indian labourers were at an annual expenditure production. The trade name employed on the Fijian plantaof about £lm., and will go “Starex”, has been chosen tions until the early 1920’5, when tTiese on for several years. for this product. properties were sub-divided and leased in small bloc.cs to Indian farmers, and, to a lesser extent, to Fijians. This step has THE COLONIAL SUGAR REFINING COMPANY LIMITED been described as a bold experiment and has since been the basis of cane .growing TOTAL SALES REVENUE AND DIVIDENDS in Fiji. . The Companv’s refining business was This diagram compares dividends received by share- expanded in 1887 by amalgamation with holders with the Company's total revenue. The figures the Victoria Sugar Company, Melbourne, for totol revenue from soles of goods and services include New refineries were built later in Adeinvestment income. lair'e, Brisbane and Fremantle. Millions of £’s 0 5 10 20 30 40 50 60 70 80 90 100 j t r— t r—i r —q r—i [— Pre-war- average for 1937-38-39 Sales: £27,320,052 Dividends: £853,125 S&xgS#: Sales L±r±±Lz——J Last 3 years- average for 1953-54-55 Sales: £94.705.858 Dividends: £1,392,300 (Including Centenary Bonus £351.000) (■ ("■t'i" Ttt

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