New Gómez Mena Sugar Company

Bonos | 1938 | 10000 Dollars
TypeBonos
Nominal10000 Dollars
Coupon Rate2.5%
Place of IssueHabana, Cuba
Date of Issue1938
Printing FirmFranklin Lee Division - American Bank Note Co
LanguageSpanish
Year of Acquisition2016
ConditionEF

Description

The  Spanish Gómez-Mena family living in Cuba owned two centrales - Amistad and Gomez-Mena in the La Habana province, Cuba under the umbrella of a predecessor company. Through marriage the mills apparently came to be controlled by the Fanjul family - likely in the late 19th century - today one of the largest private owners of sugar operations. In 1920 it sold the two centrales to interests associated with Warner Sugar Refining (a US sugar refiner). By 1938 the company was again controlled by the Fanjul family and by 1944 at the latest three additional mills were controlled by the company (Mercedita (Habana), Resolución and Santa Teresa). The centrales were nationalized as a consequence of the Cuban revolution and whilst Gómez-Mena may still be operating Amistad was dismantled.

Sample coupon

Typical bond certificate with some unusual features. The nominal value is an unusually high 10,000 US-$, the certificate is only in Spanish whilst the company name is now in English, at 2.5% the coupon rate is the lowest I have come across on any Cuban sugar company bond - very likely a consequence of a reorganization. Stamped “Specimen”, punchholes.

New Gómez Mena Sugar Company | Museum Fraikin