T H E C U B A R E V I E W 31 



The net profit of the company for the fiscal year was 8886,574.52, after charging off 

 8174,194.75 for depreciation on buildings, machinery and equipment and for replanting ot cane. 

 Part of the sugar on hand on June 30th was already sold. The balance is accounted for in 

 the profits at prices current on closing. 



On July 1, 1916, a cash dividend of 86 per share was paid, absorbing 8329,970. At same 

 time a dividend in stock at par of 84.50 per share was paid. The total authorized issue 

 of capital stock, viz., 83,000,000, is now outstanding. 



To insure an increased supply of cane at reasonable cost, the directors have authorized 

 expenditure of substantial sums for the development of new areas, and for railroad extensions 

 to serve them. 



Further considerable outlaj's have also been authorized in continuation of the improve- 

 naents and betterments to the factories begim last year, including new quadruple effect at 

 "Los Canos," additional evaporating apparatus and centrifugals at "Soledad," and new defe- 

 cators at aU three places. 



These installations of new and approved equipment, needed in order to increase the yield 

 of sugar and to reduce the cost of production, have materially strengthened your three 

 factories and largely increased their capacity and efficiency. 



By order of the Board of Directors, 



WM. MOORE CARSON, 



President. 



To the Board of Directors of the Guantanamo Sugar Co., New Yo7k: 



Gentlemen : 



It was thought last year that provision had been made for an ample cane supply for the 

 factories of the Company to be ground diu-ing the crop just finished, counting on a normal year, 

 which was considered probable, and might reasonably have been expected, after two years of 

 comparatively drj^ weather. Owing to the extreme drought experienced, however, there oc- 

 curred a shortage from normal tonnage per acre of about 30 to 35 per cent. 



Fortunately, good prices for sugar ruled throughout the season, enabling the Company 

 to show a handsome profit on the year's business. 



The rainfall for the past five years is shown below in inches: 



1915 1914 1913 1912 1911 



Soledad 36.84 37.44 36.04 56.11 38.42 



Ysabel 35.12 45.70 38.25 52.20 37.05 



Los Canos 30.85 32.34 31.28 42.28 23.80 



San Carlos 27.85 36.69 37.12 47.18 42.58 



The yield in metric tons per hectare was as follows: 



1915-16 1914-15 1913-14 1912-13 



Companvcane 41.02 50.27 63.22 56.34 



Colonos-Company land 36 . 59 47 . 66 52 . 00 50 . 51 



Colonos-o^m land 35.73 47.85 49.08 50.85 



Average per hectare 38.66 49.16 56.99 53.41 



Average per acre 15.50 19.90 23.07 21.62 



This is the lowest jaeld recorded in a great many years and was entirely due to the lack 

 of rain. 



The yield of cane piu-chased along the line of the Guantanamo & Western Railroad is not 

 included in the above, as there is no reliable record of the areas reaped. 



Owing to increased demand, wages are considerably higher than they were last year; 

 and it has been foimd very difficult to keep a sufficient number of hands on the Companj-^s 

 property to carry on the work. 



Grinding began and ended as follows : 



Soledad began December 28, 1915, and ended May 31, 1916. 

 Ysabel began January 6, 1916, and ended April 27, 1916. 

 Los Canos began January 8, 1916, and ended July 28, 1916. 



