COLONIAL SUGAR COMPANY.

Star (Christchurch), Issue 10298, 1 November 1911, Page 2

COLONIAL SUGAR COMPANY.

United Press Association—By Electrfs TclegTapk—Copyright.

SYDNEY, October 31. At ilio half-yearly meeting of Colonial Sugar Refining Company th® report showed that the profits for Alie* tralia amounted to £115,829 and foif Fiji and New Zealand to £95,000, tot which had to be added th® balancd brought forward of £77,613, making £283,443 available. A dividend was declared for the half-year making 10 per cent for the year, absorbing) £150,000 and a bonus of 2s per ehara> absorbing £15,000, leaving £123,448 t<f carry forward. It was stated thatj heavy rains and floods in Queensland and Fiji, followed by exceeding!? dry weather, had done much damage to growing crops. The partial failure! of tho beet orop in Europe had caused an advance in prices, but there was nd reason to suppose that a permanent) advance had been or would bo estab« lished.

The chairman, in moving the adop* tion of the report, referred to the appointment of the Sugar Commission. The company would in duo course state! its" views of the situation in order tp Silence those who attacked it. if would set forth the position more fully than had yet been don©. That ill should bo compelled to do so wad ii grave wrong, but Parliaments novflost sight altogether of the liberties of the community. The action of tha Commissioners in refusing pennissionE to the company to be represented by counsel could not be defended eithelf by precedent or justice. Tile Quecrus? laud strike had caused a small loss i$ connection with the mills, but they hadi. been able to keep running, so that pro* duction while the strike lasted WftS little below the normal. In the set* tlement that had been affected thqi company had no port, but notl£riy| cotild be ££*ued by discussing detail* now. Notwithstanding the rise in prices, the company in June sold to manufacturers supplies for the year at a rate which gave them sugar duty paid below what tho competitors i# Britain had to pay in bond.