COLONIAL SUGAR COMPANY.

Poverty Bay Herald, Volume XLIV, Issue 14286, 1 May 1917, Page 5

COLONIAL SUGAR COMPANY.

(Elec: Tel. CopyriKht-^United Press Assn.) ? ■ -i SYDNEY; April 30. ; At* the half-yearly xneetiri.gr' -of the C6loi\ial Sugar Refining Cotnpany 7 , , \tl\e ropox't showed that for six rnpntlis' ending March 31, the net- -|ii?)iits, include ing f£75,000 .^isjji^vn; dividend on shares in tlrb! Fiji and New Zu.Tland Company^ totalled £145,758. A dividend of '6£ p'ar cent, per annnm . wr.s declared, absorbing £105,625; and the balance* \vas carried) forward, making a total balance of £62.985. It is anticipated that the Queensland crop will 'be very large and the production is expected ',to'^ oxrced^thei" ; consumption of. Aiiatralia. The Commonwealth Government proposes to again take' over "-the- sugar' output and make arrangements. -for ••-■handling it in the company's irefineries. Mr. Katier was re-elected .as a director. The reportvof. the- Fiji arid*. New Zeafland Cornpaiiy for tlie : year ended March 3. showed profits of £340.200, from which thei- Septemboi- dividend, totalling £105,d00 'is deducted, leaving £235,200 for.-. distribution.' From -this it is proposed . to tiaiisfer £100,000 to the dividend reserve fund and pay a dividend of 6 per (ijnt. on both preference and ordinary shares, absorbing £105,---000, and carry the ha lance forward, making a tot,ai balanco of £56,531. The whole of the . dividend reserve is now, Unvested in Fiji,' New Zealand, and [•British War Loams. Tina crop for 1916 hvas ii"vevy heavy one, and the whole results were satisfactory. Thus year's crop should give an average yield, though it has suffered' through heavy rain.

Tire report adds: "There has been no improvement of prospects concerning Indian labor, but it is hoped that the conference in .London next month may secure a. better understanding. Until this 6? sernred it is unwiss im the compaiuy to inor-ease*-,-the> capital invested in Fiji. The- ' agreement with the Ne\v\ Zealand Government about the suppfly <if xefined silgrt. «nds in Tune, but arrangements will probably be concluded f6r its extension."