New-York tribune., 1921-05-11
Slump in Profits
Shown i'm Report
Of Beet Sugar Go.
Net Income for Fiscal Year
Drops FROM $2,426, 600
10 $I34,OO0; Gross Re
ceipts Averaged $1O.l2

The net profit on 100-pound bag of
sugar to the American Beet Sugar
Company was IL cents in tie year
ended March 81, 1921, and S1.s3 in the
previous year. The gross receipts from
the sale Of bag averaged over the
year $10.49 in the last fiscal year,
which was "a cents more than in the
previous year. The factory cost was
about 46 cents more than in 1920, and
total operating expenses in 1921
amounted to $10.12 and in 1920 to $s.71.
The farm operations showed a loss OF
about so cents a bag in 1924, and only
8 cents bag in 1920.
The net income of the American Beet
Sugar Company available for dividends
in 1921 was $134,o00 against S2,42e,o0o
in 1920. The company paid it's 6 per
cent preferred dividend partly out Of
surplus, but since the end of the calen-
dar year has temporarily suspended
'ividends.
The American Beet Sugar Company
has six sugar factories, two in Cali
fornia, three in Colorado and one in
Nebraska. The normal run Of the fac
tory is 100 days, and the total capacity
of the American Beet Sugar Company
is about 100000 tons of beets q
day. The company owns about 27,000
canals in Colorado sufficient to irr.gate
it's lands in that state.
The total production of the Ameri-
can Beet Sugar Company in 1921 was
1,462,000 bags, or approximately 100
tons. The entire domestic beet sugar
production in the season 1920-21 was
100000 tons and the beet sugar pro-
duction of the entire world in 1920-21
is estimated at 4,640,000 tons. The
worlds entire sugar production, in
Guiding beet and cane sugar, is esti-
mated at 100000 tons, or 1,S50,000
tons in excess Of the preceding years
production.
It is estimated that only about Is per
cent of the seasons production of beet
sugar had been marketed by January /.
1921. During this period, however,
the AmeHcan Company sold It's carry
'21 production. Since then these sales
have been increased, so that by March
81, 1921, the company had carry-over
of only about $4,000 bags.
The American Company's balance
sheet reflects these conditions. Unsold
sugar at cost is carried at $4,231 900
on March 81, 1921. comparing with un-
sold sugar at the end of the 1920 fiscal
year carried at $1,271 900. Accounts
and bills receivable in 1921 were 81 .402,-
600, and in 1920 they were only $685.
600. Bills payable were S6,805,00o, an
increase of $5,410,000. The company
had $2,339 900 cash on hand, an in
crease Of s1,143,0 900 as comp pared with
1920, but had sold $4,000, 900 of Liberty
bonds during the year, leaving in the
treasury at the end of the year little
less than S2,000,000 Of government Sc
curitics.
1t will he remembered that sugar on
hand is carried at cost. In his annual
report H. Rieman Duval, president,
says:
'In order to secure adequate tonnage
for the current years operation it was
necessary to offer farmers price per
ton which would be sufficiently at
tractive in competition with the high
return secured for all other farm prod
ucts, and, based upon the price Of sugar
remaining at or around the high level
of last spring and early summer, con-
tracts were made with them at cost
for beets of $13.56 per ton, delivered It
beet receiving statioAs, compared with