T II E C U B A R E V I E W 2» 



Total Cost of Properties as al Sept. 30, 1918 *< 1,522,783.41 



Machinery and Construction Material "n hand 767,665.30 



Total $75,290,448.77 



Your mills an- now equipped to their Cull capacity, the construction program 

 having been practically completed at the date of this report. 



RENEWALS, BETTERMENTS AND DEPRECIATION 

 During the fiscal year your Company lias in conformity with its usual practice 

 made adequate expenditures for renewals, repairs and for making changes In the 

 location of machinery in some of the plantations, all of which has been charged to 

 operating expenses before arriving at the operating profit of the Company. Part of 

 the improved result in manufacturing was due to these charges in location of ma- 

 chinery al some of the Western plantations. 



Your plants are now in a far better operating condition than they have ever 

 been, in addition to the cost of repairs and renewals, your Directors have made 

 a charge of $1,750,000 for Depreciation. 



Your properties could not be duplicated at present for their cost to date. 



EARNINGS AND EXPENSES 

 FISCAL YEAR ENDED SEPTEMBER 30, 191S 



P( r 1 1 a a 

 A '"< rage 

 Earnings: 323.18 lbs. 



Sugar Sales $57,443,014.70 $15.90 



Molasses Sales 1,056,772.17 .29 



Other Earnings 571,494.03 .16 



Total Earnings $59,071,280.90 $16.35 



Expenses : 



Cost of Cane, per 100 arrobas. $7.24 $29,678,146.97 $8.21 



Dead Season Expenses — Salaries, wages, materials and 



supplies, repairs and renewals 3,9.30,41 1 .44 1.09 



Crop Expenses (Salaries and wages, materials and sup- 

 plies, fuel, maintenance, administration — Cuba and 



United States) 6,866,662.81 1.90 



Fiscal Year Charges: 



Fire, tornado, boiler, liability insurance 328,042.37 .09 



Cuban taxes on sugar 421,386.50 .12 



Cuban taxes on molasses 67,966.15 .02 



Cuban taxes on real estate 136,899.34 .04 



Legal expenses 51 ,354.35 .01 



Sugar Expenses : 



Sugar bags and packing 1,834,042.99 .51 



Sugar inland railroad freights 1 .428,207.93 .40 



Sugar shipping expenses 629,194.92 .17 



Sugar insurance 423,430.07 .12 



Selling and landing expenses 881,879.93 .24 



Total Expenses— F. O. R $46,684,232.67 $12.92 



Marine Freights 4,996,444.25 1.38 



Total Expenses— Delivered $51,680,676.92 $14.30 



Opera TiNfi Profit. September 30, 1918 $7,390,003.98 $2.05 



Appended to this report are the Balance Sheet and Profit & Loss Account as of 

 September 30, 1918. 



