COLONIAL SUGAR CO.

Taranaki Herald, Volume LXI, Issue 144084, 1 May 1913, Page 4

COLONIAL SUGAR CO.

DIVIDEND TEN PER CENT. ■By Electric Telegraph.—Copyright. SYDNEY, April 30. At the half-yearly meeting of the Colonial Sugar Company, the report showed the net profits for Australia at £117,530, Fiji and-New Zealand £116,000, to which is to bo added a balance of £203,073, making a total available of £437,203. A dividend at the rate of 10 per cent, and the bonus absorbed £187,500, leaving £249,703 to bo carried forward. On tho whole, the Bummer has been favourable for the growth of cane, both in Australia and Fiji, but in Northern Queensland many farmers suffered considerable losses l}y floods. At present the yield of sugar is somewhat above tho average. It is expected, despite the very large increase in the world’s production, both in tho cane and boot sugar markets, that values will be well maintained. There has been no reduction in selling prices since last October, while the .meltings at the refineries are larger than in any previous half-year. The chairman stated that Ministers in tho election campaign in vague terras alluded to some of thte recommendations made in tho Sugar Commission’s report, hut nothing ‘ definite was said regarding their intentions in Cabinet. It was much easier to say that- the Government should control the selling prices than to find means of doing so, Tho chairman mentioned the New Zealand case, in which the company was fined, but did not deal with the matter, owing to judgment in the appeal case not having been given. •