SUGAR DUMPING

Northern Advocate, 3 November 1927, Page 5

SUGAR DUMPING

FOREIGN PRIVILEGES MANIFESTLY UNJUST. INJURING EMPIRE TRADE. (United Press Assn. -Copyright.) (Received 0 a.m.) LONDON, November 2. A meeting of the British Empire Sugar Federation discussed the situation arising out of the dumping of foreign sugars, which is regarded as j grave. I It was decided to urge the Government to take immediate action to prevent permanent injury to British [ refining and Empire sugar production. The meeting „ also reaffirmed fhe necessity of free entry of Empire sugar.—Sun. | COLONIAL COMPANY. SUBSTANTIAL PROFITS. (Received 9 a.m.) SYDNEY, This Day. The balance sheet presented at the Colonial Sugar Refining Company's meeting for the half-year ended September 30 last showed profits from Australian mills and refineries of £244,154, and earnings in New Zealand and Fiji of £232,363, from which it was proposed to pay a dividend of £1 and a bonus of five shillings per share, absorbing £368,625 and leaving £110,891, which, added to the balance of the profit and loss account brings the total to £441,36(|, from which £IOO,OOO is placed to the reserve fund. The report states that the 1928 crop in Australia is estimated at the total of 493,000 tons, of which 150,000 tons has been sold to British and Canadian refineries. Land has been purchased in Western Australia upon which it is proposed to establish a refinery. Referring to the anticipated shortage of soft woods for paper-making, the report states that attention is being given to the use of crushed sugarcane for the production of paper board, and adds: “There are difficulties to be overcome, but it is i said that a plant will, be laid down in Queensland for testing the process."—A. and N.Z.