COLONIAL SUGAR CO.

Wairarapa Daily Times, Volume LXIV, Issue 11339, 1 May 1912, Page 5

COLONIAL SUGAR CO.

PROFIT £151,000.

A PENDING PROSECUTION

Press Association—liiectr'ie Tcieerat>h~-Copyright. SYDNEY, Tuesday. At the half-yearly meeting of* the Colonial Sugar Refining Company the report; showed the profits for Australia to be £120,602, and the Fiji and New Zealand £105,000, to which is to be added the balance of £133,443 brought forward, making available £349,045. A dividend at the rate of 5 per cent, for the half-year was declared, absorbing £150,000, and a bonus of os per share equal to £37,500, leaving to the credit of the profit and loss account £151,545. The chairman stated that there was a scarcity of sugar throughout the world during the last few months, but the position was very uncertain both in Queensland and Fiji. The weather conditions affecting the next crop had been adverse. A sharp drought iiad been followed by cyclonic storms, and the crops would bo below the average. The 1911 crop was produced at a moderate cost considering tJ to disturbed industrial position in May. Proceedings were to be taken against the company in New Zealand on the ground that the present conditions of sale contravened a recent Act by the allowance of higher discounts to wholesale firms doing a larger share of trade than their neighbours who cannot reach the same standard. If tho court makes an alteration in tiie existing conditions there £will be some disturbance of trade, but it does not seem possible that this will damage the company's business in any way.