T HE CUB A RE V IE W 29 



Expenses : 



Cost ol Cane (per 100 arrobas, $5,586) $2,604,509 . 67 86,505 



Dead Season Expenses (Salaries and Wages, Materials and Supplies, 



Repairs and Renewals) 8567,786 . 68 81,418 



Crop Expenses (Salaries and Wages, Materials and Supplies, Fuel, 

 Maintenance, Administration — Cuba and United States) 81,565,035.34 83,909 



Fiscal Year Charges: 



General Insurance 831,008.67 8.077 



Cuban Taxes on Sugar 22,440.00 .056 



Cuban Taxes on Real Estate 20,090.49 .052 



Legal Expenses 14,699.61 .037 



Total Fiscal Year Charges 889,057.77 8.222 



Sugar Expenses: 



Sugar Bags and Packing 8201,042.19 8.502 



Sugar Shipping Expenses 54,914 . 61 . 137 



Sugar Insurance 16,363 . 78 . 041 



Selling and Landing E.xpenses 100,728 . 63 .252 



Total Sugar E.xpenses 8373,049.21 S.932 



Total Expenses f. o. b $5,199,438.67 $12,986 



Operating Profit for the Fiscal Year $648,431 .75 81 . 619 



This compares with an Operating Profit last vear of 83,778,060.49 



And a Profit per bag of ' 810.083 



*162,144 bags of unsold sugar taken at 2J''2C. c. & f. per lb. 



xMolasses sold, at a price to be fi.xed later, and amount to be received has been estimated at 



IJ^c. per gallon for the 3,200,000 gallons produced. 



Profit on Operatioxs 



The operating Profits for the eight fiscal years are as follows : 



1913-1914 $360,642.12 1917-1918 81,815,663.30 



1914-1915 812,226.39 1918-1919 2,537,661 .50 



1915-1916 1,514 388.41 1919-1920 3,778,060.49 



1916-1917 2,244,596.32 1920-1921 648,431.75 



The Earnings to October 31, 1921, under the circumstances may be considered reason- 

 ably satisfactory, especially in view of the Company not having made a full crop. 



There has been expended during the past fiscal year in Renewals and Repairs the sum 

 of $661,896.85, which, as customary, has been charged to Operating Expenses. 



General Remarks 



The Operating Profits this year, after paj'ment of Taxes, are 8648,431 . 75 



Adding: 



Interest on Current Accounts 252,308.89 



Deducting: $900,740.64 



Interest and Co.-nmission paid on Notes Payable Loans, etc 358,202 .47 



§542,538.17 



Deducting : 



Dividend on Preferred Shares 8245.000.00 



Dividend on Common Shares 750.000 . 00 



Reserve for Depreciation 630,000.00 



1,625,000.00 



There remains a deficit for the year of 81,082,461 .83 



which has been charged to Surplus .Account. 



