THECUBAREVIEW 25 



Under this exceptional combination of adverse conditions, operating costs, already rising 

 as a result of the war, were further increased; and about 25% of the abundant supply of cane 

 provided for this crop has been unavoidably carried over to the next. 



The gross income after providing $50,000 to cover U. S. Income and Profits Taxes, was 

 $816,685.70 from which has been charged off the sum of $251 ,211 .43 for depreciation on build- 

 ings, machinery and equipment and for replanting of cane, leaving a net profit of $565,474. 33. 

 for the fifteen months. 



Three quarterly dividends of $1.25 per share (at the rate of 10% per annum) have so far 

 been paid during the current calendar year. 



The capital outlay for the period covered by the accounts submitted amounted to $374,- 

 407.54, for new cane areas, railroad extensions to serve them, needful additions to factories, 

 and new buildings, the properties being substantially improved and developed thereby. By 

 large expenditures made during the past two years, the cane supply has been increased and the 

 necessary work of renovating the factories has been almo.st completed. 



The tonnage of cane provided for the crop under review should have been sufficient to 

 produce under normal conditions, about 315,000 bags of sugar. A political uprising, a shortage 

 of labor and an extremely low yield of sugar were causes preventing the results anticipated being, 

 obtained. 



Grinding began and ended as follows: 



Soledad began Januarv 9, 1917, and ended August 18,1917 

 Ysibel " Decemter 15, 1916, " June 2, 1917 



LosCanos" February 12,1917, " September 0, 1917 



The cane harvested by the company and purchased from Colonos, in tons of 2,000 Ibs.^ 

 was as follows: 



1917 1916 1915 1914 1913 



Company cane 177,685 174,407 191,969 220,310 150,971 



Colonos: 



Company land 103,640 58,157 60,160 59,187 52,886- 



Own land 140,675 104,256 135,217 160,010 160,258 



Total 422,000 336,820 387,346 439,507 364,115- 



The amount of sugar made in bags of 320 U. S. pounds was: 



Soledad . . . 

 Ysabel.... 

 Los Ca-.os. 



Total 251,106 235,428 248,978 299,592 246,119 



The percentage of total sugar (96° test) obtained on the cane was as follows: 



Soledad . . . 

 Ysabel. . . . 

 Los Ca".os. 



Average 9.57 11.47 10.42 11.17 10.76 



The expenditures on improvements and betterments during the year have been as follows l 



Cane planted, new lands $27,710.04 



Buildings and fences 13,620.31 



Irrigating plant 12,900.39 



Narrow gauge railway and equipment 35,801.05 



Standard gauge railroad 148,843.43 



Factories 129,993.06 



Miscellaneous ... 5,539.26 



Total $374,407.54 



Other changes in capital assets during the year were as follows: 



Additions: 

 Live stock $33,820.00 



Deductions: 



Timber lands (stumpage) $13,516,07 



Other properties (sales) 500.00 



14,016.07 



$19,803.93- 



