Auckland Institute. 443 



per lb. ; and though his New Zealand-grown beet shows over 8 per cent , he puts the cost 

 of production down at 2d. instead of IJd. per lb., and estimates 60 per cent, profit E. B. 

 Grant, an American, in his work on the subject, estimates the profit on 7 per cent, beet 

 sugar sold at £39 13s. 4d. per ton, or 4^d. per lb., at 52 per cent, net profit. Professor 

 Orookes, m his work, states that 8 per cent, beet sugar sold at £24 per ton, equals about 

 60 per cent, profit. Baruchson states that 6J per cent, beet-root, sold at £24 per ton, 

 will yield 24f per cent, net profit ; if the percentage be 7 per cent., the profit will be 32 

 per cent. ; if 8 per cent., profit 48 per cent. The yield in Germany on an average of 

 2,500,000 tons of beet-root, is 8'4 per cent, sugar extracted. 



Mr. George S. Graham saw in Belgium the books of a sugar company, which showed 

 that for seven years they had averaged 15,372 tons beet used per annum, the percentage 

 of sugar 9.36, and the profit actually paid in dividends 27-5-7 per cent. Though this 

 shows less than all the foregoing estimates, yet included in that there may be trade 

 losses, which are not taken into account in the former estimates. 



As to the difference in the cost of labour in New Zealand and on the Continent, I do 

 not think much of that, as our land is cheaper, and hence there is less interest or rent to 

 pay, less taxation, and with approved appliances for cultivation it ought to be as cheap 

 to produce beet here as in Europe, and here 20s. per ton might be paid for the roots 

 instead of 16s., which seems to be the average price paid elsewhere. 



Before going further in the matter, I intend waiting to see the result of the Waikato 

 experiments, when I will return to the charge. 



Last mail brought the news that Europe had in the past season produced the largest 

 amount of beet sugar on record, viz., 1,600,000 tons, and that the cane sugar, with a 

 Customs duty of Jd. per lb. less than the excise duty on the beet, has been driven out of 

 the market. 



I may state that Mr. J. 0. Firth offered to give me a written guarantee to grow 1000 

 acres of beet per annum, and sell the raw sugar to a refinery, if I could get one started in 

 Auckland capable of refining both cane- and beet-sugar. I am afraid that this will not 

 be accomplished, as capitalists will watch with interest the result of the speculation now 

 being tried in Fiji with cane-sugar by the Sydney Sugar Company, who are erecting a 

 refinery there costing £100,000, and intend spending further sums on cane plantations, 

 and the Victoria Sugar Company are about to follow suit, with even more capital. If 

 these companies succeed, it will evidently be of little use starting a refinery in Auckland, 

 but there is no reason why we should not have a beet-sugar company for Auckland 

 refining its own sugar, and if the Government would offer the same bonus that they did a 

 few years ago, viz., £10,000 for the first 100 tons of beet-sugar produced in New Zealand, 

 and sold in the open market, I beheve thoroughly that a company could be established so 

 soon as the results of the Waikato experiments are known. That there is room for such 

 a company you may imagine, with the imports of sugar at £525,000 per annum, and 

 yearly increasing. 



I have much pleasure in proposing a cordial vote of thanks to Dr. Curl, for his 

 valuable paper. Seconded by Mr. J. C. Firth, and carried unanimously. 



2. " On some Indications of Change in the Level of the Coast Line in 

 the North part of the Northern Island," by S. Percy Smith. (Tr am actions, 

 p. 398.) 



3, "On Heredity," by E. A. Mackechnie. 



