30 



THE CUBA REVIEW 



Cuban Sugar Company Plans 



The Cuban-American Sugar Company 

 has sent a circular letter to its stockholders 

 asking their approval of a plan for devel- 

 oping the properties purchased by the com- 

 pany a year ago. These included the San 

 Manuel estate and two adjacent properties, 

 all located in the vicinity of Puerta Padre, 

 Cuba, and aggregating 92,000 acres, to- 

 gether with a sugar factory, railroad sys- 

 tem, wharf and other accessories of the 

 sugar plantation. 



The plan for the development of these 

 properties provides for the construction of 

 a modern sugar factory with a yearly out- 

 put of approximately- 300,000 bags, exten- 

 sion of the present railroad system and the 

 construction of a deep water shipping ter- 

 minal. 



The cash requirements to carry out this 

 plan will amount to about $3,000,000, of 

 which $1,800,000 is to be provided by a sale 

 of the collateral trust bonds of the com- 

 pany andt'-die remainder through the sale 

 of preferred-itock. The right of the stock- 

 holders to subscribe to the new $1,200,000 

 of preferred stock, which will be entitled 

 to the accumulated dividends-since January 

 1, 1910, will expire January 'lOtbi next. 



Concerning affairs in -Gliba, President 

 Hawley said a few days ago : 



"The conditions in Cuba are progressing 

 along industrial lines that make for the 



steady material development of this coun- 

 try of unexampled fertility. Each year 

 presents an improved aspect in the diversity 

 of its crops ; the construction of highways ; 

 the increase in schools ; the diffusion of 

 universal and intelligent co-operation ; the 

 growth of population and the higher as- 

 pirations for better conditions of life, 

 which is being steadily realized in every 

 part of the island." 



The annual report of the company for 

 the year ended September 30th has just 

 been issued, and in this report President 

 Hawley says : 



"The net earnings of the company for 

 the past year show a satisfactory increase 

 over the previous year's business, being 

 $1,777,182 as compared with $1,150,544 for 

 1909. This increase is due in part to the 

 advance price in sugar and in part to in- 

 creased production and economy in operat- 

 ing the estates. During the year $688,410 

 was added to the properties for land pur- 

 chases and additions in betterments. Of 

 the 1,411,608 tons of cane ground at the 

 seven factories 2.58,376 tons were grown un- 

 der our own administration and 1,1.53,232 

 tons were purhcased from Colonos. From 

 this cane 167,218 tons 96 degrees (test) 

 sugar were produced, equivalent to 11.85 

 per cent yield of sugar. Of the company's 

 land under cultivation 19,544 acres were un- 

 der its own administration and 47,121 acres 

 under the Colonos system. While from these 



Sugar Mill of the Nipe Bay Company at Preston, Oriente Province. 



