THE CUBA REVIEW 27 



Rates Paid to Colonos for Their Caxe 

 According to your Company's contract with the colonos, they are paid 5 lbs. of sugar for 

 :very 100 lbs. of cane delivered by them. Liquidation of these sugars is made at the average 

 )rice of the sales of sugar effected by the Company. 



Crops Made by the Company 

 The following tabulation shows the output of raw sugar during the eight years of the 

 [Company's operation: 



Tons of Tons of 



Bags 2,240 lbs. Bags 2,240 lbs. 



[913-1914 134,757 or 19,607 1917-1918 394,297 or 56,145 



1914-1915 199,545 or 28,459 1918-1919 507,366 or 70,422 



[915-1916 280, 050 or 41,134 1919-1920 374,700 or 53,196 



[916-1917. 385,313 or 56,587 1920-1921 400,400 or 58,008 



Comparative Receipts per Pound of Sugar 

 For the purpose of comparing the f. o. b. price per pound obtained during the eight 

 ^ears, the proceeds from "Molasses" and "Other Earnings" are included in the following: 



L913-1914 2.344c. per lb. 1917-1918 4.758c. per lb. 



1914-1915 3.634c. per lb. 1918-1919 5.645c. per lb. 



1915-1916 4.017c. per lb. 1919-1920 9.403c. per lb. 



1916-1917 4.618c. per lb. 1920-1921 *4.500c. per lb. 



Cost of Production 

 The cost of producing sugar on an f. o. b. basis per pound for the eight years during 

 A^hich your Company has been in operation was as follows: 



*Unsold sugar taken at an estimated price of 23^c. c. & f. per pound. 



1913-1914 1.523c. per lb. 1917-1918 3.315c. per lb. 



1914-1915 2.359c. per lb. 1918-1919 4.035c. per lb. 



1915-1916 2.373c. per lb. 1919-1920 6.232c. per lb. 



1916-1917 2.847c. per lb. 1920-1921 *4.001c. per lb. 



The cost of production this year was, of course, lower than last year, by reason of the 

 ower cost of cane. The cane is paid for in sugar, which subsequently is liquidated by the 

 Company with the colonos at the average price obtained by the Company for its entire crop. 



Since the cost of the raw material, Cane, is based on the price obtained for the final 

 product, Sugar, it follows that, in so far as the cost of cane is concerned, the cost of producing 

 sugar varies in the same proportion as the price obtained for the final product. 



The best way to state the actual cost of production is to exclude the cost of cane. On 

 this basis, the cost of manufacturing and delivering the sugars on board steamers would 

 be as follows: 



*Unsold sugar taken at an estimated price of 23^c. c. & f. per pound. 



1913-1914 0.658c. per lb. 1917-1918 1.404c. per lb. 



1914-1915 0.864c per lb 1918-1919 1.670c. per lb. 



1915-1916 0.878c. per lb. 1919-1920 2.131c. per lb. 



1916-1917 1.045c. per lb. 1920-1921 1.997c. per lb. 



The decrease of .134c. in Cost of Production would have been greater had the Company 

 made a larger crop. 



Lands. 

 The total area of land owned, leased and controlled by the Company now stands as 

 follows : 



Caballerias Acres 



Owned 6,210 equivalent to 207,027 



Leased 940 equivalent to 31,333 



Controlled by the Company 1,131 equivalent to 37,700 



8.281 276,060 



