THECUBAREVIEW 23 



over at the end of the grinding season, the 1915-1() croj) remaining the proijerty of tlie vendors 

 The above purchases and additions from April 30, 1916, aggi-egating $9,150,689.41, were paid 

 for without the issue of any additional securities. 



Tlie Property Accoimt as of Septeml)er 30, 191(5, is made up as follows: 



Cost of Projjerties to April 30, 1916 $48,956,280.22 



Transfer Taxes, Notary Fees, FAc 164,010.46 



Purchase of Stewart Property 18,400,000.00 



Lands and Warehouses Purchased 330,955.20 



Betterments, Buildings, Machinery, FAc, Etc 419,734.21 



— 9,150,689.41 



Lc-is: $58,270,986.09 



Sale of Asuncion, Sale of Machinery, Etc 634,870.44 



$57,636,115.65 



All the Com]janv's properties were acquired free of liens and unencumbered, except in 

 cases where such liens and encumbrances could not be cancel 'ed and, in those cases, the amount 

 thereof was deducted from the purchase price and deposited bv this Companv with the 

 Gu irantv Trust Companv of Xew York in a special account, as shown in the balance sheet. 



Tlie property of the Company now consists of 17 fully equipped .sugar mills, having a 

 working capacity of approxunately 4,000,000 bags of sugar, as follows: 



ALAVA JOBO MARIA VICTORIA SAX IGXACIO 



COXCHITA JULIA MERCEDES SOCORRO 



FELIZ LEQUEITIO MOROX SOLEDAD 



JAGUEYAL LUGARENO PERSEVERAXCIA STEWART 



SAXTA GERTRUDIS 



LAXDS 



TJie Company owns in fee 10,577 caballerias of land, equal to 352,566 acres, and iiolds 

 under lease, — most of these leases being for a long period — 5,830 caballerias of land, eoual to 

 194,333 acres of additional land. Fiu-tnermore, the Companj^ has satisfactory contracts for 

 the jnirchase of cane from the owners or lessees of large tracts of other lands tributary to its 

 mills. The Company is thus assured of a supply of cane ample for the present and future re- 

 quirements of its factories. 



GEXERAL EQUIPMEXT 



Besides the sugar mills and cane lands, the properties include machine shops, srores, 

 workmen's houses, offices, residences of managers, superintendents, chenv'sts, etc.; also cane 

 carts, oxen, and all other appurtenances proper for the operation of well equipped sugar estates. 



RAILROADS 



The Company owns and operates for the transportation of its products and supplies, 

 737 kilometers (458 miles) of railway of wnich 434 kilometers are standard gauge and 303 kilo- 

 meters are narrow guage, together with equipment consisting of 93 locomotives, of which 64 

 are standard gauge and 29 narrow gauge, and 2,475 cane cars, of wJiich 1,470 are standard 

 gauge and 1,005 are narrow gauge. 



ORGAXIZATIOX 



The Company is proceeding systematically to organize its various departments so that the 

 best and most economical results may l^e attained in all branches of the Company's business. 



PRODUCTIOX 



During the clu-rent fiscal period the Company produced 3,174,168 bags of an average 

 weight of 320 lbs. each, of raw sugar, equal to 452,035 tons of 2240 lbs. each. The production 

 of Stewart is not included in the above, as that plantation was purchased after tlie completion 

 of the crop. All of this sugar has been sold. Sugar unshipped at the close of the fiscal period 

 on September 30 has been taken up in the accounts at net sales price. 



STEAMSHIP FREIGHTS 

 The Company was fortunate, through the intervention of Czarnikow-Rionda Company, 

 in securing tonnage for the last croj) at the low rate of 25c. per 100 ll)s. This proved of great 



