COLONIAL SUGAR COMPANY
Press Association—By Telegraph—Copyright. . SYDNEY, October 30. The meeting of the Colonial Sugar Company was held to-day. The report to September 50 showed that the net profits totalled £256.260, of which £135,000 was earned in Fiji and New Zealand. A dividend of 5 per cent, and a bonus of 5s per share were declared, and £165.890 was carried forward. Colonel _ Onslow Thompson replaces Sir Normand Maclaurin on the board.
The Queensland Sugar Millers’ Association have requested the Commodities Commission to advance the price of refined sugar, stating that the advance in the xvholsalo pfice ■would not affect the general consumer, because the retail price would bo unaltered when the reduction to ruling nrioes was made fairly. The company supported, ths amplication. air Hordern’s representative stated that the increase of 25s asked for would mean an advance of one farthing per pound to sryall consumers. The Chairman stated that a large business had been done in refined sugars during the half-year, but the Australian prices were very low compared with those elsewhere. The crops being harvested in Australia and Fiji were turning out well owing to the opportune rains. In spite of the troublous times the volume of business had not suffered; in fact, record sales had been made during the halfyear. Regarding the position of the world’s sugar market, everything denended cn the course of t’ e war. The Continental Powers involved were largely interested in the production of beet sugar, and this would be seriously curtailed while hostilities lasted. Already there was a sharp advance in the world’s prices, although the high rates meant decreased consumption. No doubt the high-level values would be maintained until the production of beet sugar in Europe resumed its normal proportions. The company had placed an order in England for another steamer similar to the Fiona.
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COMMERCIAL., Evening Star, Issue 15638, 31 October 1914