, 1912-03-13

otherwise the average value of Factory sugar
for the past seven years has been ELL, add
lOI per ton for mOlasses, making ELI los. de-
duct 93 for IN lnufacture, leaving G8 103. per
ton act. Muscovado has averaged E9 IS. per
ton, add Fl los. for m)lnsses, making HlO
l5s. deduct E2 per tor for manufacture Ieav-
ing G8 155. per ton, showing as [ SAID before
that the net revenue per ton. Of Factory SUI
gar is 81 less than MlscovalO Sugar. Tne
extra Of Il ton made in the Factory, after
allowing for the diff yrence in net revenue
per ton, gives a gam Of IS Is Cd. on every
Is tons Of canes and it is approximately al
lotted as follows
G2 1876 FOR interest AMI repayment of
capital,
FL Is 0 for Planters,
81 Is Q for Investors,
Calculated 90 the ton Of Factory Sugar tho
gain works out at f3 10 Q, of which FL
10 0 goes for interest aud repayment Of cap
ital and 81 per ton to planters and FL per
ton to Investors.
You have thus scan that the planters
should get now Ell 15 0 per ton of Ml5co.
va 10 sugar ii. 9. for Is tons OF cauo5} more
than they get AZ present. Fifteen years
hence, when the capital has been ~replii,
they should receive 81 Is 0 additional, maxi
ing a total gain Of f3 IL Don their present
tonnage.
In industrial work of such a npture, cllcu-
Iations like this are easily upset by many
causes. The ordinary fluctuations of crops
and also variations of market prices from the
average level can make IL big difference
sometimes one way, sometimes the other
and a severe drought affecting the quantity
and quality of scanes could sweep away the
whole profit, aud could affect the comp III
son between the two ways Of working as
long as the one has heavy fixed charges in
respect of capital to meet, while the pther
is not SO burdened. Personally | naver at.
tuch great weight to exact calcula, ions in
such matters, but when a venture is founded
on q sound basis and when calculations show
q. big enough profit to stand a lot of cutting
into through one cause or another, and still
leave one q big gamer IN average years, then
the business is we'll worth venturing on.
But instead of taking my figures, let each
OF you make his own calculations for himself.
Some of you may say our sugar making ex-
penses don't amount to e. per ton. Ii you
include q sufficient annual charge for renew
ing q worn, out boiler or other piece Of plant
when required and repairs to the building at
times and carriage of the sugar to town, l
think in many cases E2 will not cover ii.
You may think the carriage not worth calcu-
lating as you have the stock, but if you have;
no cNrtage, you will no doubt find you eau
u'lilze the stock prOhtaOlV OtherWISe.
Perhaps u s)under method of comparing
the two ways of working was one given by
an Antigua manager some little time ago:
his estate did not pay and he informed his
solicitors III London it never would pay until
it was taken into the Factory. They asked
for proof that this would mend matters and
be said that his cousin owned an estate and
formerly had always had o struggle to. make
both ends meet, but after ne had joined the
Factory he had always plenty of money to
do what he wanted and could go to England
when he wished.
But there are others besides the proprie-
tors and investors who will benefit by the
Factory. Estate Managers will be relieved of
the labour and worry of sugar making, and
from what [ have seen elsewhere, [ feel sure
they will become more complete masters Of
their own profession of Agriculture, being
left with more time aud freedom to spare for
studying it, and [ trust that in other respects
also they may in time find their position i'm
proved. When more money comes into Il bust
ness, there is at least the possibility of giving
more remuneration to those doing the work,
and whore there is the possibility, why not