COLONIAL SUGAR COMPANY

Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 31 October 1914, Page 2

COLONIAL SUGAR COMPANY

(Pbess Association. —Copyright.) SYDNEY, Oct. 30. ! At the meeting' of the Colonial Sugar Company the report "to Sept err £er 30th showed the net profits to be £256,260, of which £135,000 was earned- in Fiji and New Zealand. A dividend at- "the rate of five per' cent, and a bonus of 5s per share was declared, and £165,890 was carried forward. Colonel Onslow Thomson replaces the late Sir Norm and ' MacLaurin on the board. The chairman of <tlie Colonial Sugar Company stated that large business was done in refined. sugars during the halfyear, but the Australian prices were very low compared with those ruling elsewhere. Tlie crops being harvested in Australia and: Fiji were turning out well, owing to..opportune rains. In spite of the troublous times the volume of, business had not suffered ; in fact there were record, sales during the half-year. Regarding the position of the world's sugar market, he said everything depended upon the course of the war. The Continental Powers involved were largely interested in the production of beet sugar, this would bo seriously curtailed while hostilities lasted. Already there had been a sharp advance in the world's prices, and , though high rates ■meant, decreased consumption, there, was no doubt .a high level- of values would s be maintained, until .the production of beet sugar, in Europe resumed. its lior-ir-al proportions. The company had - placed an order* in England for another steamer similar to the Fiona. |