24 THE C U B A RE V I E W 



Additions, Improvements, etc.: 



Western Eastern 



Fiscal Year Plantations Plantations Total 



1915-1916 8264,603.13 8155,131.08 8419,734.21 



1916-1917 2,376,123.95 2,657,229.86 5,033,353.81 



1917-1918 1,835,050.42 8,246.313.70 10,081,364.12 



1918-1919 730,004.32 3,309,334.68 4,039,339.00 



1919-1920 1,278,965.52 2,177,979.08 3,456,944.60 



1920-1921 1,936,300.72 5,931,458.62 7,867,759.34 



1921-1922 125,520.24 2,145,321.31 2,270,841.55 



$8,546,568.30 824,622,768.33 §33,169,336.63 



846,961,501.24 

 Less amount written off to cover dismantling and relocation of 



machinery 1,200,000.00 45,761,501 .24 



Total as per Balance Sheet $94,744,797 .92 



Renewals, Repairs and Depreciation 



Following the customary practice, your Corporation has made adequate expen- 

 ditures for renewals, extraordinary and ordinary repairs, and changes in the location 

 of machinery, all of which have been charged to Operating Expenses. These charges for 

 the past six years ending with the fiscal year just closed are $27,341,432.85: those for the 

 last fiscal year amounting to $1,598,314.40. 



Your Board of Directors has made a charge of $1,750,000 for depreciation, making 

 the total reserve for that account to date $13,500,000. 



Changes in Assets and Liabilities 

 Increase of Assets: 



Properties and Plants 81,575,684.32 



Advances to Colonos 634,291 . 72 



Accounts and Bills Receivable 431,559 . 77 



Cash 1,123,388.59 



Mortgages and Options to Purchase Properties 42,147 . 14 



Interest, Rents, etc., Paid in Advance 105,474. 17 



Discount and PLxpenses on Mortgage Bonds 497,222 . 22 



Total 84,409,767 .93 



Decrease of Liabilities: 



Ten Year 7% Convertible Debenture Bonds $17,551,100.00 



First Mortgage Bonds of Violet Sugar Company 57,000.00 



Bank Loans, etc 2,900,000.00 



Loans against Sugars 18,000,000.00 



Trade Bills and Notes Payable 269,701 .28 



Accounts Payable and Accrued Charges 3,986,356.45 



Liens and Censos on Properties (per contra) 14,062 .50 



Reserve for Taxes 2,643 . 49 



Reserve to Adjust Value of Unsold Sugars 3,848,723.52 



Mortgages and deferred installments on Land Purchases. . . 520,856.16 



ToT.\L 47,150,443.40 



Grand Tot.^l $51,560,211 .33 



Increase of Liabilities: 



Ten Year 8% Convertible Debenture Bonds $17,551,000.00 



Fifteen Year 7J^% Closed Mortgage Bonds 10,000,000.00 



Accrued Interest on Bonds 104,260.55 



Reserve for Depreciation 1,750,000.00 



Total $29,405,360.55 



Increase of Scrplus .\ccount '. 1,006,729 . 50 



