COLONIAL SUGAR COMPANY.

Marlborough Express, Volume XLVII, Issue 102, 1 May 1913, Page 5

COLONIAL SUGAR COMPANY.

HALF-YEARLY REPORT.

STATEMENT OF PROFITS.

I [press association.] (Received April 30, 8.40 p.m.) SYDNEY, April 30. At the half-yearly meeting of the Colonial Sugar Company, the report showed the net profits in Australia at £117,530, and in Fiji and New Zealand at £116,000, to which a balance of £203,673 must be added, making the total available £437,203. A dividend at the rate of 10 per cent, and a bonus absorbed £187,500, leaving £249,703 to be carried forward. On the whole the summer had been favorable to.the growth of cane, both in Australia and Fiji, but in Northern Queensland many farmers had considerable losses by floods. At present the yield; of sugar jis Somewhat above the average, and it is expected that despite a very large increase in the world's production of both cane and beet sugars, the market values will be well maintained. There Ihas been 00 reduction in the selling prices since last October, while the meltings at the refineries were larger than in any previous half-year. The Chairman stated that Ministers in the election campaign in vague terms alluded to some of the recommendations made /by the Sugar Commission in itis report, but said nofthingj definite regarding the intentions of Cabinet. It was'much.-easier to say that the Government should control the selling prices) than to find a means of doing so. '

The Chairman mentioned the New Zealand case, in which the company was fined, but did not deal with the matter, owing to judgment in the appeal case not having been given.