22 THECUBAREVIEW 



licjiiatl Sugar Production: 



Cardenas Refinery, Cuba 1 l,7i:;.n I l-hs. i:^,()43,:W2 Lbs. 



Craineicy Refinoi y. La ir)4,!».-)4.4S_> Ll)s. i:U,4()4,7S:} Lbs. 



The net i)i<)fit of llie Company for tlie fiscal year was *.i..i94,()47.1l7 aflcr diarjiiiiR .S7.SS,- 

 4«)().0.^ for depreciation on buildings, niacliinery and e(iui])nien1. 



\\(' have continued our jiolicy of amply jirovidinp: for doul)tful Colonos' accounts and 

 have written otT the yearly i)roi)ortion of the cost of ])lantinfis and all e\i)enses in the cane 

 fields where renewed jilantings were required. 



The Directors have under consideration a readjustment of i)ii>sical values of all build- 

 ings, machinery and equii)ment by a detailed apprai-sal, and to jirovide against every con- 

 tingency the sum of iS;2,()00.(X)0 has been ai)propriated and transferred from the Surphis Ac- 

 count to the '"Ke-xerve for Dei)reciation." 



Regular quarterly dividends were paid on the Preferred Stock comi)leliug the dividends 

 to September :«), 1914; further, on .July 1, 191.5—1^4 per cent, and on October 1, 191.5—51^ per 

 cent, were ])aid, being the dividend of 7 per cent, accunmlated to September :^0, 191.5. 



On November 17, 191.5, a quarterly dividend of 2>2 per ccni. was declared on the Com- 

 mon Stock to .stockholders of record on December 1.5, 191.5. i)ayable .January 3, 1916. 



$179,000 of the Cuban- American Sugar Com])any's Six Per Cent. Hi' c) Collateral Truts 

 Gold Bond.s were retired by the operation of the Sinking Fund Provision of the Collateral Trust 

 Indentme, making a total of !5884,000 of these Bonds retired in this manner, and leaving out- 

 standing on September 80, 1915, .S9,l 1(5,000. 



The capital outlay during the year amounted to .$1,17.5,490.95. These exjienditures were 

 made to jirovide the most aj)])roved and necessary devices that may be employed to increase 

 the yield of sugar and lower the cost of production; to acquire about 35,000 acres of virgin 

 land adjacent to our holdings in the extensive area of the Chaparra jiroperties, and additional 

 railway lines and equiiiment in order to care for the increased tonnage of cane and its ])roduots. 

 New warehouses for the .storage of .sugar have been constructed, and suitable buildings for 

 the conduct of our commercial business have added largely to the (-onvenience and jirofit of this 

 import ant depart ment . 



The improvements and additions .stated in the foregoing serve to maintain and strengthen 

 the property in all its parts, and offers the company's best guarantee for an increased output 

 and continued progress. 



Extea«ive new plantings have been made and a large acreage brought imder a .sj-.stem of 

 irrigation. 



The fields to-day indicate a tonnage for the ensuing season of unequalled jiroportioas, 

 assuring a record production and a confident outlook for a i)rosperous year. 



ASSETS 

 Propcrlij, Plcntt (iiid Fixtureti: 



As at October 1, 1914 .>S24,3.54,174.G4 



Addit ions during vear L17.5,490.95 



.$25,529,605.59 



Goodunll 3,929,340.28 



Securities in hands of Trustees 3,100.00 



Work Aniwnls, Lire Stock and Equipment 7ol,.505.79 



Current Assets and Growing Cane: 



Planted and Growing Cane .'51,172,282.77 



Advances to Colonos and Contractors (after deducting 



Reserve for Bad and Doubtful Accounts) 1,168,294.90 



Inventorv of Raw ^NLaterials, Supplies and Merchandise 



in Stores 1,718,240.40 



Stock of Raw and Refined Sugar 2,150,944.31 



Accounts and Bills Receivable (after deducting Reserve for 



Bad and Doubtful Account.s) 1.617,101.51 



