COLONIAL SUGAR COY.
EFFORT TO OBTAIN REDRESS FROM GOVERNMENT Reed. 5.5 p.m. Sydney, New 9. lhe Colonial Sugar Refining Company has decided to pay interim dividends, amounting to 16s per share. 31 e^ar en d' n 8 March The directors’ half-yearly report says that when the sum owing for Government charter of two of its steamers recently exceeded £30,000, the company decided to seek legal redress. The company, says the report, "had been continuously out of pocket on the rate allowed for hire. Though a subsidy for industrial spirit has been received in 194.3, none had been received for the next 21 months, despite a net profit of less than onehalf per cent. Some increase in the price had since been granted. The Government had refused a subsidv on jute packages imported by the company for the use of the sugar industry. Yet a competitor and all other industries using sacks had obtained a benefit. The report refers to this as "a discriminatory action, which results in a loss to the industry of £700,000.”
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Bibliographic details
Wanganui Chronicle, Volume 89, Issue 266, 10 November 1945, Page 4
Word Count
174COLONIAL SUGAR COY. Wanganui Chronicle, Volume 89, Issue 266, 10 November 1945, Page 4
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