28 THE CUBA REVIEW 



SANTA CECILIA SUGAR COMPANY 



ANNUAL REPORT AND GENERAL BALANCE SHEET— YEAR ENDED 



JUNE 30. 1916 



The gross revenue for the year was §t)0i),401 .30. ( )perat ing charges ot all kinds, including 

 t\^pairs ami depreciation, aggregated $429,717.93, leaving net earnings of $179,683.37. Interest 

 on funded and other del>t amounted to $60,646.25, leaving a net balance carried to surplus of 

 $119,037.12. 



A uniform annual charge of 5'. f for depreciation on nianufacturiTig ])lant, to apply from 

 beginning of business, or from acquisition of the asset, having been established by the board 

 of directors, a charge to surplus account of $124,024.83, in addition to depreciation heretofore 

 charged, was made to bring the reserve for this purpose up to the full amoimt accrued to 

 June 30, 1915. Other charges, amounting to $4,096.29, reduced the balance to credit of 

 surphis to the amount shown in balance sheet. 



Cane ground, Spanish tons of 2,500 lbs .... 



Sugar output, bags of 325 lbs 



Sugar output, pounds net weight 16,690,146 



Percentage of sugar to cane 



Average New York polarity, degrees 



Average price realized, c. & f. New York.. . 

 Molasses output, gallons 



Gross revenue *$609,401.30 .$723,713.39 $554,276.09 $.531,251.53 



Operating expenses and other charges $354,944.15 $381,784.(i4 $;381,213.09 $386,973.51 



Repairs replacements and depreciation. . . . $74,773.78 $147,815.65 $69,711.41 $62,539.03 



Interest on fimded and all other debt $60,616.25 $69,041.10 $73,896.54 $67,265.02 



Additions and betterments $56,005.97 $35,378.96 $16,643.24 $38,867.81 



*N'ot including sugar on hand. 



The severe drought which prevailed throughout eastern Cuba during both the growing 

 and harvesting seasons of 1915-16 greatly reduced the putput. Increased cost of labor and 

 supplies and the enormous advance in ocean freight rates combined to further reduce the 

 profits from the year's business. 



The property has been well maintained in every respect, and the area of cane fields has 

 been increased by 755 acres. 



Substantial improvements of the factory and an extension of the railroad sj'stem are 

 under way, which, it is expected, will be completed by December 1. 



The rainfall on the estate since June 30, 1916, has been copious and seasonable, and 

 the progress of the crop thus far is satisfactory. 



GENER.\L BALANCE SHEET 

 ASSETS. Year Ended June 30, 1916 



Fixed Assets: 

 Real estate and improvements: 10,654 acres (at purchase price 



and attending expenses, including $1,500,000 common stock 



issued at par as part of purchase price;, improved with 4,694 



acres of cane and 1,216 acres of made pastures $2,511,274.35 



Deduct: Reserve for replanting cane fields 96,980.92 



$2,414,293.43 



Field improvements. Ditches, fences, fireguards, roads and 



bridges 52,997.81 



Field equipment. Carts, harness and implements 12,176.92 



