18 



T II K C" U F. A R !•: \" 1 !•: W 



Nipe Bay Company Report 



The Xipe Bay Company, which is con- 

 trolled by the United I-Yuit Company, re- 

 ports net earnings, for the fiscal year 

 ended September 30th last, of $1,()72,()~5, 

 an increase of $1,225,155. The report 

 states that during the year the production 

 of sugar was 137,190,740 pounds and of 

 molasses 2,87().:i;!4 gallons, as against 91,- 

 S8S,4(I0 pounds, and 2.673,808 gallons, re- 

 spectively, in the year previous. Operat- 

 ing conditions during the year are reported 

 to have been favorable, and the crop was 

 secured with but few interruptions and 

 little difficulty. Expenditures for better- 

 ments during the year amounted to $373,- 

 711, and the company's water system w^as 

 extended at an aggregate cost of $105,424. 

 During the year 77 cars were added to the 

 company's rolling stock, and a trifle over 

 seven miles of railroad built at a cost of 

 $179,2.34. 



President Andrew W. Preston says that 

 the available cane acreage for the coming 

 year will be 21,847 acres, about the same 

 as for the year just closed, and he expects 

 that the additional facilities in the com- 

 pany's mill and lields will assist in more 

 economical operations. The company now 

 has no floating debt, and the property is 

 in an efficient state of operation. 



The income account for the year shows 

 the following : 



1910 Increase 



Xet earnings $1,672,075 $1,225,155 



Interest on notes 210,000 30,000 



Interest on bonds 116,167 20,167 



Interest and discounts 78,911 *67,870 



Total int. charges... 405,078 *$17,703 



P.alance $1,266,997 $1,242,858 



Pref. dividends (7%) 140,000 140.000 



P>alance for com- 

 mon $1,126,997 $1,102,858 



Common divid. (4%).. 140,100 140,100 



Surplus $986,897 $962,758 



Previous deficit 8.30,966 220,861 



Total surplus $155,931 $741,897 



Discount 154,020 *90,980 



P. & L. surplus $1,911 $832,877 



In 1910 the total area of cultivated lands 

 was 34.464 acres, and the total area owned 

 127,792 acres. There were 2,938 cattle and 

 230 horses and mules. The plantation rail- 

 way (gauge 4 feet SV. inches) has a mile- 

 age of b,357 as against 5.639 in 1909. "The 

 locomotives number 13, all but one built by 

 the Baldwin Locomotive Works. 



A Government Sugar Mill 



Scnor Antonio Alasferrer, representative 

 for Santiago Province, says the Hinana 

 Tclcgrat'h, lias a proposition, which he has 

 submitted to President Gomez, for the erec- 

 tion by the state of a "Model Sugar Mill," 

 to cost twelve million <iollars, on state 

 lands ac Manzanillo, where the government 

 owns some 5,000 caballerias.* 



Senor Alasferrer sets forth that the mill 

 would serve as a training school for Cuba's 

 youth and that the millions for its erection 

 may be borrow-ed at 5 per cent, principal 

 and interest to be paid out of the mill's 

 earnings. 



The bchcmc finds mucV favor with the 

 President, and will be presented in the 

 form of a bill to the next congress. 



It is reported that Senor Alanucl Silveira 

 is connected with the enterprise. 



*33J acres. 



Decrease. 



The Guantananio Station 



U. S. Secretary of the Navy, George von 

 L. Meyer, was in Havana on October 30th, 

 arriving on the despatch boat "Dolphin." 

 After landing, the "Dolphin" left for 

 Santiago. He came to inspect the naval 

 station at Guantanamo. 



He is convinced, as a result of his ob- 

 servation, that Guantanamo occupies the 

 only commanding site as a naval base es- 

 sentially auxiliary to the defence of the 

 Panama Canal. The bay is perfectly de- 

 fensible, capable of containing a fleet of 

 any size, and possesses all the requirements 

 of a first-class naval base that might be 

 established without great expense, as the 

 government now owns the greater part of 

 the plant required for new machine shops 

 and other works. 



Through an agreement with the Republic 

 of Cuba the United States holds certain 

 tracts on the island for use as naval sta- 

 tions. One is at Guantanamo Bay, in the 

 Province of Santiago, in the southeastern 

 part of the island, a point from which a 

 naval force could guard the Windward 

 Channel between Cuba and Hayti. and the 

 other is at Bahia Honda, fifty miles west 

 of Havana, on the north coast, a location 

 commanding both the Florida Straits and 

 the Yucatan Channel. 



The naval station at Guantanamo and the 

 reserve at Hahia Honda, each, have an area 

 of twenty-nine square miles. The United 

 States holds jurisdiction over these tracts, 

 so far as the residents are concerned, but 

 the sovereignty remains with Cuba, and no 

 business can be carried on through private 

 enterprise. Docks, warehouses and 1 ar- 

 racks may be constructed for naval use and 

 these protected by fortifications. 



The secretary did not visit Bahia Honda 

 while in Cuba. 



