THE CUBA REVIEW 



21 



Plant of lhe Cuban Sugar Refinery Company at Cardenas, Matanzas Province. 



It is owned by tbe Cuban-American Sugar Co. of New York. The output is 



estimated at 50.000 barrels annually. 



Cub an- American Sugar Shares Listed 



Securities of the Cuban-American Sugar 

 Company are now listed on the new York 

 Stock Exchange. After a meeting of the 

 governors of the Exchange on June 22d, 

 it was announced that $7,295,000 ten-year 

 six per cent, collateral trust bonds, due 

 1918; $6,295,000 seven per cent, cumulative 

 preferred stock, and $6,496,100 common 

 stock have been admitted to dealings. 



The Cuban-American Sugar Company 

 and subsidiary companies report the fol- 

 lowing income account for the year ended 

 September 30, 1909: Proceeds — Gross 

 amount received from raw and refined 

 sugar sales, $10,918,374; gross amount re- 

 ceived from molasses sales, $240,193 ; net 

 amount received from other sources, $241,- 

 602; total proceeds, $11,400,168. Cost— Ex- 

 penses of growing, manufacturing, freight- 

 ing and selling, including office expenses 

 and salaries, $9,172,660 ; depreciation, re- 

 serve fund, $212,666 ; colonos, reserve fund, 

 $50,000; contingent, reserve fund, $16,850; 

 total cost, $9,452,176; profits, $1,947,992 

 Fixed charges — Bond interest, $228,855 ; 

 bond discount and commissions, $40,697 ; 

 interest on open account, $400,354 ; bond 

 sinking fund, $127,541; total fixed 

 charges, $797,447 ; net income, carried to 

 surplus account, $1,150,544. 



The income account for the seven months 

 ended April 30, 1910, shows : Proceeds — 

 Gross amount received from raw and re- 

 fined sugar sales, $9,208,153 ; gross amount 

 received from molasses sales, $117,301 ; net 

 amount received from other sources, $12,- 

 805 ; total proceeds, $9,338,259. Cost— Cane 

 purchased, expenses of growing cane, man- 

 ufacturing, freighting and selling, including 



office expenses and salaries, $6,803,351 ; 

 depreciation, reserve fund, $126,164; contin- 

 gent, reserve fund, $250,000; total cost, 

 $7,179,515 ; profits, $2,158,744. Fixed charges 

 — Bond interest, $126,926; bond discount 

 and commissions, $15,679; interest on open 

 account, $230,980; total fixed charges, 

 $373,585 ; net income, carried to surplus 

 account, $1,785,159. 



The preferred stock dividends have been 

 paid as follows: No. 1 — 3V2 per cent, paid 

 July 1. 1907 ; No. 2 — 7 per cent, paid June 1, 

 1908; No. 3 — 1% per cent, paid August 10, 

 1909; No. 4—3% per cent, paid May 2, 

 1910; No. 5—3% per cent, payable July 1, 

 1910. 



The company owns all the capital stock, 

 except the shares necessary to qualify the 

 directors and practically all the bonded 

 debt of the following companies : Chaparra 

 Sugar Co., Tinguaro Sugar Co., Cuban 

 Sugar Refining Co., Unidad Sugar Co., 

 Mercidita Sugar Co. and the Colonial 

 Sugars Co. A careful inventory made of 

 these properties shows their actual values, 

 conservatively estimated, to be about 

 $15,132,377. 



At a meeting of the board of directors 

 of the National Bank of Cuba held in Ha- 

 vana July 22d, it was decided to distribute 

 a dividend of $200,000 corresponding to the 

 first six months of the current year. 



A new branch building of the National 

 Bank of Cuba will soon be built on Marti 

 Street in Sagua la Grande. 



