The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-11
SUGAR CO..
REPORTS Big GAINS
Loss Of $4,000. 900 i'm Net Prof
its in 1913 Changed to In
crease Of $4,000. 900.
CON MON EARNS
g.. ~

The report OF the American Sugar Re
ining Company Ter the year ended De
cember 81. 1914. forms an interesting
comparison with the report OF the previ-
Gus year. The report for the year Of
1913 showed the company with a con
siderable deficit owing to the decline
In the sugar profits OF over 81. 600. 900,
while the report for the year just passed
shows that the sugar profits are more
than doubled. while total net profits
nave increased approximately $1,000. 900.
as red with a loss OF over $4,000
900 in 1919.
Sugar profits for 1914 were So. 7sl $50.
as compared with sl.oi5.s53 in 1913
with interest and dividends yielding
s2.56i. $50. against s3.i6e.i35. Total net
Profits for the year we're $3.50 800.
against sA.1s4.asa the previous year
After allowing for : per cent. on the
si5. 900. 900 preferred stock and deduct
ing S17.215 profits from operation OF
former years and s5e.e12 profit and los
adjustment. including earnings. the bal
ance. se.9l2,693. il equal to 6tT per
cent on the stJ. 000.0 600 common stock
before any deduction for depreciation or
reserves and including s7S6.35a net
profit realized from the sale of invest
ments. This with lN per
cent. earned on tho common stock the
year previous
Total deductions. including dividends,
amounted 10 ts.Oij.ia9. leaving a de-
felt for the year OF si.eoa,Sos, as com
pared with one OF S+,0sa.i71 the year
before. The COMPANY also had n credit
Item OF s107l79. The profit and loss
surplus on December ~, 1914. Is given
as $1,000. 7et. as compared with VS.
o2e.t25 on December 81. 1918.
Joseph +. Freeman. secretary OF the
company. IN his remarks TO the stock
holders said
THE unexpected developments in Eu-
rope caused Germany Immediately 10
prohibit the expectation Of sugar ana
turned England, which had a light stock
on hand. to the cane sugar countries Tor
It's supply Between August 4 and II
the price OF raw sugar advanced from
J 4. 90 cents to $50 cents a pound, ana
sales were made to spectators at from
a OF a cent 10 !. or a cent a pouh"
higher than these figures.
"prlces became so abnormal that a re
action soon occurred. and by August -
the market had turned u there was Il
steady decline FOR some weeks until ra"
sugar reached $50 cents a pound, or
nearly the point from which the advance
began. During this latter period me
trade in refined sugar was para1yzed'
and speculative interests reSold theIi
purchases of refined sugar below re-
nners' prices. This condition caused a
material curtaiiment in production ana
heavy shrinksge IN values OF stocks on
hand
The annual meeting OF the stockhold-
ers OF the company was heid al moor
Yesterday in the ~company's refinery al
the foo, OF Washington street, jersey
city. Samuel Carr and Philip Stockton
OF BOSTON. Samuel McRoberts and A.
be-, II. wiggin OF New York city Were
elected directors for three years. W. Ear
Rabst Of New York city for Two years
and Samuel {. Hooker OF Brooklyn ioi
one yea.
Mr.. Bahsi is a new member OF I'M
board. which ia increased from eleven IL
twelve members.