22 THE CUBA REVIEW 



railroad there have been added during the past season two locomotives and fifty steel cane 

 cars; the total equipment now being: 



5 locomotives 



80 steel cane cars 



25 wooden cane cars. 



Baley: 



In the batey (or factory village) new quarters for employees and laborers have been erected, 

 also a restaurant where employees can obtain meals at reasonable prices. The company has 

 taken over the operation of the plantation stores, which are operated at a reasonable profit. 

 The advantages to both the company and its employees are considerable. 



Finances : 



By reason of war conditions and the consequent enhancement of price of materials as. 

 well as increases in waees, the cost of construction was considerably greater than the original 

 estimates. Fuithermore, under the contract with the International Sugar Committee, the 

 company is compelled to hmit its monthly shipments of sugar to the amounts assigned to it 

 by the committee for available ships. As a result a very large simi of money wll be required 

 to carry the sugar stocks after payment for the cane. Considering the above, and the general 

 banking situation, it has been decided by the Board of Directors to authorize an issue of 

 $1,000,000 of 7% one year gold notes. 



CENTRAL SUGAR CORPORATION— BALANCE SHEET. OCTOBER 31. 1917 



CAPITAL ASSETS 



COST OF PROPERTIES $2,807,743.45 



Property dismantled or abandoned during the course 

 of the reconstruction and improvements program 

 under way 99,450.00 



$2,708,293.45 

 Additions from December 6, 1916, to October 31, 1917, 



not including construction contracts in progress 632,994.14 



$3,341,287.59 

 Organization expenses 23,518.93 $3,364,806.52 



WORK ANIMALS, EQUIPMENT AND TOOLS 32,953.62 



ADVANCES TO COLONOS AND CONTRACTORS 199,663.59i 



CURRENT ASSETS AND GROWING CANE: 



Planted and growing cane $16,426.55 



Inventory of materials and supplies 328,892.34 



Raw sugar in process and molasses 7.451.23 



Accounts receivable (after deducting reserve for doubt- 

 ful accounts) 74,264.90 



Cash in banks and on hand 306,153.33 733,188.35 



DEFERRED CHARGES TO FUTURE OPERATIONS: 



Property dismantled or abandoned as above. 1 99,450.00 

 Difierence between book value and amount 



to be charged off 23,532.72 



$75,917.28 

 Less: Proportion charged off against surplus 38,417.28 37,500.00 



Prepaid rent, insurance, interest, etc 18,917.53 56,417.53: 



TOTAL ASSETS $4,387,029.61 



