38 THECUBAREVIEW 



REPORT OF A SUGAR PLANTATION 



A RECORD CROP LOWER COSTS OF PRODUCTION ATTAINED 



WEATHER FAVORS GROWING CANE 



The annual report of the Santa Cecilia Sugar Company, Oriente Province, issued 

 October 2nd, shows that the gross revenue for the year was $531,251.53. Operating- 

 charges of all kinds, including repairs and depreciation, aggregated $449,512.54, leaving 

 net earnings of $81,738.99. Interest on funded and other debt amounted to $67,265.02, 

 leaving a net balance carried to surplus of $14,473.97. Some production statistics follow : 



1913 1912 1911 1910 



Cane ground, Spanish tons of 2,500 lbs. . . 94,492 80,975 50,263 71,718 



Sugar output, bags of 325. lbs 77,841 62,383 43,190 63,732 



Percentage of sugar to cane 10.73 10.03 11.17 11.52 



Average New York polarization, degrees 95.66 95.28 95.35 95.34 



Average price realized, c. & f.. New York $2.07 $2.91 $2.41 $2.81 



Molasses output, gallons 498,733 446,984 310,462 361,597 



Gross revenue $531,251.53 $639,315.11 $407,134.10 $583,326.97 



Op'erating expenses and other charges.. 386,973.51 406,271.99 283,234.88 358,658.99 



Repairs, replacements and depreciation. 62,539.03 91,979.78 77,364.10 101,913.86 



Interest on funded and all other debt.. 67,265.02 67,393.57 106,192.96 106,007.76 



Additions and betterments 38,867.81 29,913.17 60,264.04 128,737.40 



Unusually late and heavy rains delayed the ripening of the cane so that, while the field 

 production was heavier, the juice was as poor as the year before, the increased percentage 

 in the yield of sugar as shown in the table above being due entirely to better work in the 

 factory. The sugar market was bad throughout the season, the prices realized being 

 the lowest in the history of the company. On the other hand, the crop was a record one, 

 the amount of cane ground and sugar made being larger and the cost of production 

 lower than ever before. 



The property has been well maintained and the efficiency of the factory further im- 

 proved. Repairs and replacements, while less in amount than in preceding years, were 

 ample and complete. Capital expenditures of $38,867.81 were principally for betterment 

 of factory and additional railroad and other equipment. 



The rainfall and weather generally have thus far been favorable to the growing crop. 

 The proposed reduction in tariff on sugar is expected to have a beneficial effect upon the 

 Cuban industr}?-, although it may not be visible in the results of the current year. 



The balance sheet on June 30th is herewith given : 



ASSETS 



Real estate and improvements: 10, 650 acres (at purchase price and attending 

 expenses, including $1,500,000.00 common stock issued at par as part of 

 purchase price) improved with 3,457 acres of cane, with roads, bridges, 

 fireguards and ditches ; and 1, 395 acres of made pastures, with fences, 



corrals and water supply $2,450,859.95 



Field equipment : Carts, harness and implements 10,370.33 



Manufacturing plant: Factory buildings, machinery and yards; and electric 

 plant: water tower and dam.; machine and shop equipment; laboratory 



and fire apparatus, etc 514,869.28 



Managers' and employees' residences ; laborers' quarters, office, stores, ware- 

 house, stables, etc 101,779.00 



Railroad and equipment ; 16.9 kilometers narrow-gauge track and sidings 



(mostly 40-lb. rail) with rolling stock 80,095.63 



Oxen, mules, horses, etc 29,513.00 



Administration office and residences 8,949.28 



Store and warehojuse stocks, material and cultivation accounts 48,712.96 



Accounts receivable 27,013.92 



Cash : in banks and on hand 91,947.21 



Capital stock : liabilities $3,364,110.56 



Common authorized and issued $1,500,000.00 



Preferred authorized $1,000,000.00 



Preferred, in treasury $6,200.00 



Preferred, unissued 278,700.00 284,900.00 715,100.00 



