THE CUBA K E V I E W 21 



Current Liabilitifs: 



r.oans and bills payable: 



One-year coupon notes autorizcd $500,000.01) 



Ixiss held in treasury 50,000.00 $450,000.00 



Notes payable 5:j2,300.00 



Traffic and car service balances payable i 202.58 



.Audited accounts and wages payable 41 ,178.37 



Miscellaneous accounts payable 8,997.08 



Unmatured interest accrued 12,782.97 



1,015,401.00 



Deferred liabilities: 



Liability for provident funds 82,()03.98 



Other deferred liabilities .' 100.00 



2,703.98 



Una/ljusted Credits : 



Insurance and casualty reserves $t,728.32 



Operatins reserves 1,711.00 



Ilcserve ftt;ainst deferred assets 19, .548. 86 



Accrued depreciation — equipment ,59,236.93 



Other unadjusted credits 15,179.37 100,405.08 



$7,844,570.0fi 

 *$20,000 paid since July 1, 1917. **$14,003 paid since ,Tuly 1, 1917. 



There is a contingent liability of $25,030 for notes receivable discounted (subsequently liquidated) > 



SANTA CECILIA SUGAR COMPANY 



ANNUAL REPORT AND GENERAL BALANCE SHEET— YEAR ENDEO 



JUNE 30. 1917 



New York, October IS, 1917. 



Gross revenue for the year was $779,076.25; operating charges of all kinds aggregated 

 $461,954.66; depreciation amounted to $48,091.43, leaving net earnings of $269,030.16. Interest 

 on funded and other indebtedness amounted to $66,092.38, leaving a net income carried to 

 surplus of $202,937.78. 



During the year machinery and factory equipment discarded (less salvage) amounted to 

 $33,568, of which $17,747.04 was chargeable against reserve for depreciation, the remaining 

 $15,819.96 being charged to surplus. There were miscellaneous charges to surplus account of 

 $545.95 and miscellaneous credits of $1,101.28, leaving net balance in surplus $378,589.15. 



GENERAL STATISTICS. 



1917 1916 1915 1914 



Cane ground, Spanish tons of 2,500 lbs 71,768 54,473 77,922 94,757 



Sugar output, bags of 325 lbs 59,060 51,354 60,166 81,'654 



Sugar output, pounds net weight 19,194,500 16,690,140 19,554,080 26,473,'708 



Percentage of sugar to cane 10.69 12.25 10.04 11.20 



Average New York polarity, degrees 95.45 96,05 96.3 < 96.10 



Average price realized, c. & f , New York $4.62 $3.76 $3.89 $2,054 



Molasses output, gallons 482,472 223,573 505,109 464 210 



Gross revenue *$779,076.25 *$609,401.30 $723,713.39 -5554,276.09 



Operating expenses and other charges $414,782.18 $354,944.15 $381,784.64 $381,213.09 



Repairs, replacements and depreciation $95,263.91 $74,773.78 $147,815.65 869,71141 



Interest of funded and all other debt $60,092.38 $00,646.25 $69,041.10 $73,896 54 



.Additions and betterments $171,756.05 $56,005.97 $35,378.96 $16,643.24 



*Not including sugar on hand. 



The foregoing statistics include the cost of and proceeds from 10,286 bags of sugar 

 carried over from June 30, 1916, in addition to the 40,221 bags sold and shipped to June 30, 

 1917, out of the 59,060 bags produced during the fiscal year ended that date. They do not, 

 however, include the cost of or proceeds from 18,839 bags on hand Jime 30, 1917, or of 12,575 

 bags made subsequent to that date, which made up the total of 71,635 bags produced during 

 the grinding season which began January 7 and ended August 12, 1917. 



The revolution which prevailed in Cuba during the major portion of the grinding season 

 seriously delayed operations and greatly increased cost of production, although no material 

 destruction of property took place on the estate. 



As indicated in foregoing statistics substantial additions and betterments were made 

 during the year. The completion of the program of factory reconstruction has been postponed 

 on account of the high price of materials and uncertainty of deliveries. The property gener- 

 ally is in good condition. 



Weather conditions at the Estate since June 30 have been favorable. The labor situation 



