BRITISH GUIANA SUGAR MERGER
An important scheme for the rationalisation of the sugar industry in British Guiana was carried through last week when shareholders of Booker Bros., McConnell and Co. agreed to merge on a share exchange basis with the Coren- tyne Sugar Company. Sir Alfred P. Sherlock, the chair- man of Booker Bros., McConnell, pointed out that after the merger th6 company would control about two-thirds of the Colony's sugar industry instead of one-half, as hitherto. He showed that he valued the merger chiefly as an offset to the high taxation and labour difficulties which had been experienced, and he foreshadowed an important saving because it would cost no more to market 120,000 tons of sugar than 9o,000 tons. The assets which were being acquired are, he revealed, worth more than twice the amount of the new issue involved.
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