30 TRE OVOP BA. VRE Ten AN. 
Add: 
Net Profit for Year as per Profit and Loss Account................ 12,544,1384.53 
$26,973,102.04 
Deduct: 
Dividends on Preferred Stock : 
INO: 16s SENUALY Wd, lOZ0s vedas 
INOS UT ADIL OL) Ie wists celery ois 10 
INO: 1s FOUL a gh OZ Mare We erie tease 
No. 19, October dy 1920 co. nes 
Balance, September 30, 1920 .............. 
CENTRAL SUGAR CORPORATION 
The Central Sugar Corporation has an- 
nounced an issue of $3,000,000 eight per 
eent. ten-year convertible gold notes, the 
purpose of the issue being to reimburse 
the treasury of the corporation for ex- 
penditures through advances to its Cuban 
subsidiary, Central Fe, S. A., and in 
developing additional cane lands and 
increasing the capacity of the cen- 
tral expenditures which were previously 
financed in part through short term obli- 
gations. 
Upon the completion of the improve- 
ments, it is said, Central Fe will have a 
capacity of 300,000 bags and the supply 
of cane from lands owned and controlled 
by the company will be sufficient to keep 
the plant fully employed. 
The capitalization of the company con- 
sists of $4,000,000 eight per cent. ten-year 
convertible gold notes, of which $3,000,000 
are outstanding ; $3,000,000 seven per cent. 
cumulative preferred stock of $100 par 
value, all outstanding; and 80,000 common 
shares without par value, of which 50,000 
are outstanding. 
PUNTA ALEGRE SUGAR COMPANY 
The annual report of the Punta Alegre 
Sugar Company for the year ended May 
81, 1920, shows large profits. After taxes 
and charges there was a surplus of 
$6,690,652 as compared with $1,613,117 in 
the previous year. After dividends for 
the fiscal year just passed there was a 
balance of $5,646,708, whereas in the 
previous report the same item amounted 
to $1,574,505. The total surplus of the 
company now stands at $9,136,016. 
Page SAR one ee $75,000.00 
ened 9 coe ey $75,000.00 
pihech sR nae 875,000.00 3,500,000.00 
S aahieirat bare bal ene $23,473,102.04 
The balance sheet shows an increase 
of about $3,000,000 in the value of real 
estate, plant and equipment. It is stated 
in the report that the crop of last season 
was sold at varying prices from 6% cents 
a pound f. 0. b. Cuba to 22% cents, with 
an average net return of 11.14 cents a 
pound. The small balauce remaining un- 
sold is inventoried at 10 cents a pound. 
The balance sheet shows total current 
assets of $15,956,085 as compared with 
current liabilities of $8,735,855. In the 
previous report current assets amounted 
to $7,224,930 and current liabilities to 
$6,884,951, 
WEST INDIA SUGAR FINANCE CORPOR- 
ATION 
At a recent meeting of the Board of 
Directors of the West India Sugar Fi- 
nance Corporation the following officers 
were elected for the ensuing year: 
President, Thomas A. Howell; Vice- 
Presidents, Howard J. Pullum and H. W. 
Wilmot; Secretary, Lorenzo <A, Arm- 
strong; Treasurer, J. Bliss Coombs; As- 
sistant Secretary and Assistant Treas- 
urer, Arthur Kirstein, Jr. 
THE CUBAN-AMERICAN SUGAR 
COMPANY 
Notice is hereby given that the two 
million ($2,000,000) dollars par value of 
first lien six per cent. serial gold notes 
(Series C) maturing January Ist, 1921, 
together with the coupons thereon, should 
he presented for payment to The Cen- 
tral Union Trust Company of New York, 
No. 80 Broadway, New York City, on or 
after January 3rd, 1921. 
