THE CUB A Ii I*] V I K W 25 



GUANTANAMO SUGAR COMPANY 



THIRTK E NT! I ANNUAL R E I 'OUT 



FISCAL YEAR ENDING SEPTEMBER 30, lit IS 



New Yoi'k, November 15, 1918. 



The Directors have .submitted the accounts of the Company for the year ending 

 September ::o, 1918, and a copy of the Balance Sheet, together with the reporl of 

 the General Manager on the operations of the Company. 



The amount of cane ground was 479,01S tons and sugar made, 49,116 tons, as 

 compared with 422,000 tons cane ground and 40,177 tons sugar made in 1!)17. The 

 yield of sugar per ton of cane was again adversely affected by unfavorable weather 

 conditions during the grinding season. While 8 per cent, more than in 1!tl7, it was 

 still below the average of previous years. 



Operating costs have continued rising steadily, and taxes payable by the Com- 

 pany to botb United States and Cuban Governments have largely increased. 



The gross income was $1,062,513.46, from which has been charged off the sum 

 of .$200,641.29 for depreciation on buildings, machinery and equipment and for re- 

 planting of cane; and a further sum of $261,000, which it is estimated will suffice 

 to cover all taxes and contingencies, leaving a net profit for the year of $540,872.17. 



Regular quarterly dividends have been paid at the rate of 10 per cent, per annum. 



The capital outlay for the year for necessary additions and improvements to the 

 property amounted to $242,2S7.56, as specified in the General Manager's report. 



Our fields at present give promise of a supply of cane ample for a large output 

 of sugar in the coming season, subject to its successful harvesting and manufac- 

 ture; and the sale of the total production is already contracted for at a higher price 

 than that received for the past crop. 



Guantanamo, October 15, 1918. 



In spite of several handicaps, such as an unusually wet grinding season, which 

 interfered greatly with the harvesting of cane, and a shortage of labor, the total 

 output of sugar for the three factories of the Company reached the highest point in 

 its history : 



Grinding began and ended as follows: 



Soledad began December 20, 1917, and ended July 10, 1918. 

 Ysabel " November 30, 1917, " " June 2, 1918. 

 Los Cafios" December 27, 1917, " " July 7,1918. 



Cane harvested by the Company and purchased from Colonos, in tons of 2,000 

 lbs., was as follows : 



1918 1917 1916 1915 1914 



Company Cane 207,050 177,685 174,407 191,969 220,310 



Colonos : 



Company Land 80,107 103,640 58,157 60,160 59,187 



Own Land 191,861 140,675 104,256 135,217 160,010 



Total 479,018 422,000 330,820 387,346 439,507 



The amount of sugar made in baas of 320 U. S. lbs. was as follows: 



1918 1917 1916 1915 1914 



Soledad 1 37,283 114,884 106,100 1 17.489 133,21 6 



Ysabel 98,285 62,988 56,451 67,657 79,818 



Los Cafios 71,406 73,23 1 72,877 63,832 86,558 



Total •100,974 251,100 235,428 248,978 299,592 



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



1918 1917 1916 1915 1914 



Soledad 10.35 9.11 11.46 10.26 11.24 



Ysabel 10.53 10.11 12.32 10.64 11.47 



Los Cafios 10.18 9.84 10.82 10.51 10.78 



Average 10.34 9.57 11.47 10.42 11.17 



