THE CUBA REVIEW 



33 



Depreciation . 



Net earnings from operations. 

 Interest charges 



Profit. 



♦Deficit 



54,238 . 39 



$87,311.92 

 65,973.44 



$21,338.48 



34,024.36 



$34,583 . 56 

 63,872.44 



*$29,288.88 



24,024.36 



$60,403.56 

 63,174.36 



*$2,770.80 



The Company's properties have been maintained in good condition and all necessary 

 repairs effected. 



The spring rains have been plentiful and praspects for the coming crop are good. 



O. G. SAGE, 



General Manager. 



GUANTANAMO SUGAR COMPANY 



ASSETS 



Cost of Properties: 

 Real estate, cane lands, buildings, equipment and 



other psrmanent investments §4,363,181.26 



Deduct — ^Betterments charged to surplus, 

 July 1,1911, to June 30, 1915 425,643.07 



—BALANCE SHEET, JUNE 30, 



LIABILITIES 



1916. 



§3,937,538.19 

 Advances to Guantanamo Railroad Company .... 788, 198.23 



7,649 shares held in the Guantanamo Railroad 



Company 1.00 



Current and Working Assets: 

 Growing crops carried over to 1916- 



1917 season §52,532.83 



Inventories: 

 Raw sugar on hand 



29,621 bags §449,024.49 



Molasses 26,688.05 



Stores and supplies 



at cost 149,852.15 



Spare parts at cost. 40,634.00 



' ■ 666,198.69 



Insurance unexpired. 22,944.46 



Sundry accounts receivable and ad- 

 vances to Colonos 305,193.75 



Cash on hand and in banks (New York 



and Cuba) 895,351.77 



$1,942,221.50 



Capital Stock: 

 Authorized and issued, 60,000 shares 

 of §50 each §3,009,000.00 



Issued.. 60,000 shares §3,000,000.00 



ess 5,005 shares in treasury, authorized 



to be issued July 1, 1916, for dividend 



and other purposes 250,250.00 



Outslanding 54,995 shares of §50 each §2,749,750.00 



Stock dividend, payable in treasury stock 



Current Liabilities: 



Drafts in transit §65,000.00 



Accounts payable and reserve for ex- 

 penses ol completing crop 124,389.61 



Dividend 329,970.00 



Unexpended Funds: 

 For 1916 dead season current repairs 



and maintenance §60,000.00 



For extraordinary repairs 2,435.51 



For depreciation 670,909.02 



For depreciation of live stock 19,926.80 



For replanting 194,490.21 



§6,667,958.92 



Surplus: 



Balance at June 30, 1915 §1,894,733.25 



Add: 

 Profit on operations of the year 

 to June 30, 1916, as per ac- 

 count annexed 886,574.52 



§2,781,307.77 

 Deduct: 

 Purchases of Guan- 

 tanamo Railroad 

 Company shares 

 written off as per 

 resolution of the 

 Board of Direc- 

 tors §250.00 



Dividends declared: 

 Stock. . . §247,477.50 

 Cash 329,970.00 577,447.50 



247,477.50 



519,359.61 



947,761.54 



577,697.50 2,203,610.27 



§6,667,958.92 



PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDING JUNE 30, 1916, 



Gross sugar sales, less sea freight, brokerage, etc $2,720,994.97 



Molasses sold 77,849.28 



$2,798,844.25 



Deduct: 



Producing and manufacturing costs and shipping expenses, including New York and Guan- 

 tanamo office expenses $1,834,116.25 



Profit on operations, before providing for depreciation of mills and equipment or for 



replanting of cane §964,728.00 



Add: 



Interest (net) §91,382.93 



Rents (net) 24,447.84 



§115,830.77 

 $1,080,558.77 



