COLONIAL SUGAR COMPANY.

Gisborne Times, Volume LX, Issue 9799, 8 May 1924, Page 4

COLONIAL SUGAR COMPANY.

OPERATIONS IN NEW ZEALAND

DEMAND FOR FURTHER PROTECTION.

(Received May 7, 9.50 p.m.) SYDNEY. May 7

Addressing a meeting of shareholders, Mr Knov, chairman' of directors of the Colonial Sugar Coy., said that a large production of sugar was expected during the coming - season. The price to' be paid the manufacturers had not yet been fixed. As the result of alterations of plant, Abe company could now provide easily for the present consumption of Australia and New Zealand. . The 1923 crop turned out better than had been expected and sixteen thousand tons bad been exported during the last nine months. This season the export would be larger. Referring to the Auckland refinery, lie said that thcr was no chance of maintaining the business i 7 there wore a reversion to former free trade conditions. These latter obtained up till about four years'ago, when sugar was first handled by the Government, but, when they relinquished control last year, a small protective duty on competing white sugar was imposed and this enabled the company to carry on. The duty would expire in September, but the company hoped it would he recognised’tlmt refining on a free trade basis was impracticable-, -without, incurring serious loss and that the necessary protection would be granted to avert closing the industry,—U.P.A.