| Type | Preferred |
|---|---|
| Represented Quantity | 100 |
| Nominal | 100 US-$ |
| Coupon Rate | 7% |
| Place of Issue | New York, United States of America |
| Date of Issue | 1917 |
| Printing Firm | American Bank Note Company |
| Language | English |
| Year of Acquisition | 2017 |
| Condition | EF |
Description
The Central Sugar Corporation was set up in 1916 to operate sugar assets in Cuba. It acquired and expanded the privately held Fé mill in the Santa Clara province. Around 1920 the Cuban mill and railroad were sold to a wholly owned Cuban subsidiary to avoid double-taxation - then a theme for US-sugar companies active in the Carribean. The coming crisis and a poor harvest spelt the end for the company. In 1923 its assets were reorganized as Salamanca Sugar Co - which itself went under in 1931 with a minimal recovery for bond holders.
Typical covertible preferred share certificate. Large vignette with a cane harvesting scene and the mill in the background. Dividends were actually paid on the shares in the early years of the company.
Sources: 27 Dec 1916, Page 6 - The Wall Street Journal at Newspapers.com 25 Mar 1920, Page 6 - The Wall Street Journal at Newspapers.com, all visited on 13.5.2022, Manual of Sugar Companies, 1938. Farr & Co | Museum Fraikin (museum-fraikin.de), The Cuba Review and Bulletin 1907 - 1923 | Museum Fraikin (museum-fraikin.de)