San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-29
American Financiers Said
to Have Billion In
vested in Cuba.
CONTROL 20 PER CENT
Getting Not Less Than Half
Of Excess Taken From
Householders.
By HARDEN COLFAX.

and sugar refining interests have an
investment of more than $1,000, OOO,-
600 in Cuba and control large part,
believed to run as high as 40 per
cent, of the Cuban raw sugar crop,
has been unearthed by government in
vestigators at work on the $4,000, 600
weekly sugar holdup of the American
public.
TIE governments detectives are
seeking information with respect to
charges that the sugar holdup was
planned, engineered and carried out
BY New York financial interests,
closely related to the great sugar re-
finers.
The most recent evidence, which
comes from representative of the
refining interests, is in nature Of tes-
timony given by Henry A. Rubino, OF
New York, who, in his own words,
represented American interests en-
gagged in the production of raw sugar
in Cuba" before the Senate finance
committee in the latter part of 1921.
At that time the committee was
holding hearings on the proposed
tariff law and Mr.. Rubino placed
before it various tabulations outlining
the extent of American financial in
terest in Cuban sugar.
1--WE have attempted said Mr..
Rubino in filing his exhibits, with
the greatest care and with all the
data available and at our command,
to show you the extent of that Amer
lean investment today, represented by
stocks and securities, widely held and
distributed in the United States,
amounting to over $1,000,000 900 in
vested in the sugar industry in Cuba,
according to actual figures
Billion Is Divided.
According to Mr.. Rubino's figures,
the $1,000,000,000 was made up as
. follows:
Sugar mills and estates owned by
Americans, 1921, 219,766.
Sugar estates controlled by Ameri-
cans by reason of their being financed
By Americans, $125,O00 900.
Investments in Cuba owned by
Americans dependent entirely upon
the sugar business, $156,250, 700.
Amounts due Americans for ma
chinery, merchandise and supplies,
and secured in part by equipment
trusts, etc. -$12S.0OO. 900. > ----
Total S1,O31, O69, 766. -,
The tabulation is taken from the
finance committees report of proceed
ings Of hearings on schedule that the
|Fordney -McCumber tariff bill, that
schedule covering sugar, mOlasses and
manufacture of sugar and molasses.
Mr.. Rubino placed other American
Investments in sugar in the United
Estates, Porto Rico and Hawaii at
$545. 100000 and added:
"The American industry in Cuba
has twice as much at stake as all
the other industries"
Fourteen American-owned corpora
tions alone, according to Rubino's
Figures. had an investment of more
thar $41S,0 100000 in Cuban sugar
mills. as follows:
Cuban American Sugar company. a
New Jersey corporation, controlling
six Cuban corporations with total
assets of more than 500, 100000
Manati Sugar company, a New York
corporation. $21,500.000.
Punta Allegro Sugar company, q
Delaware corporation, $50, 345, 422.
Guatanamo Sugar company. a New
Jersey corporation. $12,S70,247.
Cia. Azuc Andres Gomez Mena, a
Cuban corporation owned BY Ameri-
fans, 500, SS4,3 04.
United Fruit company, a New Jer-
bey corporation, $40, 100000.
Miranda Sugar company, Cuban
corporation owned by Americans, $780,
e7S.493.
The Miranda company was the one
With which Mr.. RubinO was connect
Id officially at the time of his testi-
nony. His list of other American
korporations with investments in
SUSh sugar includes also:
American Sugar Refining company,
New Jersey corporation, $50, 000,-
100.
Hershey Corporation, owned by.Her-
hey interests, Delaware corporation,
II. 500, 900.
Compania Guiana, Cuban cor
GRAFTON owned by Americans, $751;
O3. 1884.
Santa Ana Sugar company, n Gu
an corporation owned by Americans,
IA. 900, 900.
Central Cuba Sugar company. a
ew Jersey corporation, S13, 500. 900.
Atlantic Fruit company. Della
ARE corporation. S15,OOO,OOO.
All told 4S American-owned cor
orations are included in Mr.. Rubino's
st, but the foregoing companies are
be largest, in point of assets, with
ore than two-thirds of the total
merican investment.
Control and Own Many Acres.
The As companies cited by Mr..
ubino. according to his statement,
owned or controlled" 4.459. 407 acres
Cuban cane sugar land. The out
lt of the As companies in 1920,
S report TO the committee shows,
as 14.000.245 bags of sugar. In
e trade a bag of sugar counts for
Pout 325 pounds. Seven bags are
gured to the long ton.
On the basis of such computation,
American financial interests in
Iba "owned os controlled" upwards
100000 long tons, or about half,
Chilly more. Of the entire crop.
Bearing in mind the long establish
practice under which Cuban sugar
ID down at New York fixes the
ice of both raw and refined sugar
roughout the United States. the gov
nment's Investigators believe they
We found a most important bit of
idence.
Should It establish nothing more,
makes 1t clear. at least. that Ameri-
financial interests are getting not
Is than half Of the excess charged
Hay for sugar over the normal mar
nrice