38 



THE CUBA REVIEW 



THE SUGAR INDUSTRY 



NEW NIQUERO SUGAR COMPANY 



A special meeting of the stockholders of 

 the New Niquero Sugar Company was held 

 at the office of the company, New York City, 

 on the 10th day of December, 1914, for the 

 following purposes: 



1. To act upon the proposition to classify 

 into common and preferred stock, the author- 

 ized increase capital stock of said company, 

 amounting to one million five hundred thou- 

 sand dollars ($1,500,000), so that five hundred 

 thousand dollars ($500,000) shall be common 

 stock and one milUon dollars ($1,000,000) 

 thereof shall be preferred stock. 



Said preferred stock shall be entitled to 

 preference and priority over the common 

 stock as follows: 



The holders of the preferred stock shall be 

 entitled to receive out of the surplus or net 

 earnings and the corporation shall be bound 

 to pay therefrom as and when declared by the 

 board of directors, a dividend at the rate of 

 seven per cent. (7%) per annum cumulative 

 from the first day of December, 1914, payable 

 yearly, half yearly, quarterly, or otherwise 

 before any dividend shall be set apart for or 

 paid on the common stock. 



In case of liquidation or dissolution, or 

 distribution of assets, of the corporation, the 

 holders of the preferred stock shall be paidthe 

 par amount of their preferred shares and the 

 amount of dividends accumulated and unpaid 

 thereon, before any amount shall be payable 

 or paid to the holders of the common stock. 



The balance of assets of the corporation 

 shall be divided ratably among the holders of 

 the common stock. 



After the payment of dividends at the rate 

 of seven per cent. (7%) on the cornmon stock 

 in any fiscal year, any further dividends in 

 that year are to be paid on all outstanding 

 preferred and common stock without distinc- 

 tion. 



2. To act upon a proposition to cancel the 

 authorization heretofore given for the issue of 

 one million five hundred thousand ($1,500,000 

 dollars of new first and refunding mortgage 

 bonds and: 



3. To authorize the purchase of the present 

 outstanding bonds of the company at 110. 



Central "Niquero" began grinding about 

 December 15th and expects 150,000 bags of 

 sugar of Barrobas each. 



El Progreso of Gibara, says that there are 

 rumors, that will not down, to the effect 

 that a new sugar central, "La Victoria," will 

 soon be built in a locality close to the city. 



Senor Jose H. Beola, it is said, is interested 

 in the new factory. 



CENTRALS "VERTIENTES" AND "FLORIDA 



In Cienfuegos, on November 6th, there 

 was organized the Central Vertientes Com- 

 pany. 



The organizers of the new company are the 

 following well known citizens: President, J. 

 Isidore Madrazo, a prosperous planter; vice- 

 president, D. Felipe Silva, a well known law- 

 yer of Cienfuegos; secretray, D. Arturo Lopez 

 Madrazo, a prominent lawyer of Sagua la 

 Grande. 



The directors are as follows: Col. D. Juan 

 Florencio Cabreras, D. Antonio Oviedo, a 

 planter; D. Francisco Fernandez, a business 

 man; and D. Juan Busquet, owner of the 

 Hotel Union at Cienfuegos 



The new central will be built, it is believed, 

 on the plantation "El Jiqui," owned by Sr. 

 Bernabe Arteaga, president of the municipal 

 council of Camaguey, and is situated some 

 four kilometers from the station at Florida, 

 in Camaguey Province, on the line of the 

 Cuba Railroad. 



The rails from Florida to the site of the 

 new central are being laid to carry the neces- 

 sary machinery, and later to transport the 

 crop. 



The new central occupies an enviable loca- 

 tion, near the main line and within easy reach 

 of the south coast, for the shipment of its 

 sugars. 



The stockholders of the central have pur- 

 chased 600 caballerias. 



The central is expected to be ready to grind 

 the 1916 crop, and to make 150,000 bags. It 

 is rumored that President Menocal is in- 

 terest in the new factory. 



As soon as the project is successfully under 

 way, another company will build a central 

 in Florida, and will name it after the town. 



The organizers of this project have already 

 secured an option on lands in the neighbor- 

 hood owned by Sr. Juan Madrigal. 



ANOTHER NEW SUGAR FACTORY 



The Havana papers state that President 

 Menocal is interested in a new sugar factory 

 which will be built at Palma Soriano, 

 Oriente Province, on the main line of the Cuba 

 raikoad to Bayamo, west of San Luis. With 

 President Menocal is associated a Senor Vail. 



The papers speak of the project as a cer- 

 tainty and that all the time President 

 Menocal, during a recent visit to Palma Sori- 

 ano, was spent in examining the ground chosen 

 for the new central. 



Central "Hormiguero," in Santa Clara 

 Province, began grinding on December 5th. 



ESTIMATED SIZE OF THE CROP 



Tons 



Guma and Mejer 2,660,286 



H. A. Himely 2,664,286 



Willett & Gray 2,600,000 



