OCR Text |
Show The iotnl outlay for operating nil the company's factories, power plants, etc., exceeded $4,000,000. The charges for interest, insurance nnd storage had also been heavier than ccr before, due to the fact that tho company's factories were operated less than four months, in which time Jill the raw material, labor, etc., had to be paid for, -bile the sugar had to be carried an entire year in order that the customers of the company might rely on being furnished with sugar all the year round. At the time of the financial panic the company had a larg amount of sugar en route to eastern markets, but their customers custom-ers were unable to pay for it as the tills fell due, which necessitated storing stor-ing the product until it could be sold. This meant additional interest on borrowed money, insurance, storage, etc. It was stated that the company used in its factories 4000 feet of belting, all sizes, and about the same amount of steam and hot water hose. Last yenr 118,365 yards of filter cloth were used, while upward? of 10,000 gallons of lubricating oil, CstTnscpf sulphur, and a host of other manufacturing materials were consumed. The total product of sugar during the year at all six factories amounted to 108,300,500 pounds of sugar in sacks, an increase of about 5,000,000 pounds over the year previous. The mnrkct for refined sugar early in the year was stronger than for some time past, the advance being due to the shortage of Cuba's crop, estimated esti-mated to be 400,000 tons less than last yea 1. After having charged off the necessary neces-sary amounts for maintenance, depreciation, depre-ciation, discounts, etc., a dividend of 7 per cent on the preferred capital stock was set aside for the four quarterly quar-terly dividends this year. 1 -n |