COLONIAL SUGAR REFINING COMPANY.

New Zealand Herald, Volume XXV, Issue 9202, 3 November 1888, Page 5

COLONIAL SUGAR REFINING COMPANY.

A meeting of shareholders of this company, with which the New Zealand Sugar Company was incorporated in September, 1887, was held at Sydney on the 30th of October when a dividend of 7 per cent, per annum was declared. The following is the report:

The directors bee to submit, for the information of the shareholders, the following report on the business of the company for the half-ended 30th .September, lfiSS-The profits made during that period, after providing for interest on the debenture stock, and for all other charges, amount to £55,051 10s id, to which sum has to be added the balance to profit and loss account on 31st March, 13SS, £50,570 as Oil : leaving available, £105,621 18s lOd. From this amount the Board propose to appropriate : To pay. ment of dividend at the rate of 7 per cent, per annum, £22,750 ; to replacement and depreciation fund, £20,000 ; leaving at the credit of profit and loss account, £62,871 18s Uld : £105,621 18s lOd. The sales of refined sugar have been on a satisfactory scale, and the Board expect that the business during the present half-year will be equally good. In Queensland and New South Wales the cane crops have been injured by the frost and drought of the winter and spring, and at some of the company's plantations losses may in consequence bo incurredto meet this contingency provision has been made. The Board recommend to the favourable consideration of the proprietors the resolution now to be submitted to them in respect to the issue of tho remaining 10.000 shares of the company.— F.dwakd Knox, Chairman. Sydney, 30th October, 18&3.

It will be seen from the above report that the company is in a very good position, and is likely to continue to pay steady dividends. An advertisement to the Auckland shareholders will be found in another column, stating when the dividend will be paid.