COLONIAL SUGAR COMPANY

Taranaki Herald, Volume LVIII, Issue 14348, 28 October 1910, Page 3

COLONIAL SUGAR COMPANY

ENORMOUS PROFITS. By Eleotrio Telegraph.—Copyright. (Received Oct. 28, 10 a.m.) SYDNEY, Oct. 28. At the half-yearly meeting of the Colonial Sugar Refining Company the report, which was read, showed profits of £196,714, to which was added tho balance of £115,971. A dividend at the rate of 5 per cent, for tho half-year was declared, leaving £170,180 to the credit of profit and loss account. Tho report stated that tho hurricane in Fiji had damaged the crops, but tho Queensland crops exceeded tho estimate. Tho prospects for next year’s crop were satisfactory. The profits of tho company’s business in Fiji and New Zealand had been £70,000. The Chairman announced that as the balance after paying dividend was nowcredited with £160,000, it was proposed to add tills amount to tho paid up capital in the same manner as adopted in 1008, and it was proposed to issue 1500 shares of £2O each carrying a dividend from the Ist instant. Such shares would be offered to shareholders in the proportion of one to every nineteen held by them mi November 15 next, at which date £150,000 would ho taken from profit and loss and divided amongst the shareholders in proportion to their respective holdings. .The report and .resolutions dealing with new shares were adopted.