United Sugar Companies, S.A. - 1924 dated $1,000 Mexican Bond - Sinaloa, Mexico

$1,000 8% Gold Bond. State of Sinaloa, Republic of Mexico.

The United Sugar Companies, S.A. (USC), a prominent agribusiness enterprise, was established in the early 20th century in Los Mochis, Sinaloa, Mexico. Founded by American entrepreneur B.F. Johnston, the company played a pivotal role in transforming the region’s arid land into productive sugarcane plantations through extensive irrigation projects. At its zenith, USC operated as a vertically integrated powerhouse, overseeing every aspect of sugar production, from cultivation and harvesting to refining and distribution. Its influence was so profound that it even issued its own private paper currency and nickel coins to compensate workers, which were widely accepted as legal tender in local company stores during the economic turmoil of the Mexican Revolution.

Beyond its industrial achievements, USC became the backbone of social and economic life in Los Mochis, often referred to as a “company town.” While it provided employment and developed essential services such as railroads and housing, the company also faced criticism for its labor practices and the significant control it exerted over the local population. In response to the land reforms and nationalization trends of the mid-20th century, USC transitioned into Mexican ownership. However, its legacy continues to be evident in the region’s modern sugar industry and the historical architecture of Los Mochis. Today, the name USC is sometimes mistakenly associated with the United Sugar Producers and Refiners Cooperative, a major U.S.-based marketing cooperative established in 1994. This cooperative supplies approximately one-quarter of the total sugar demand in the United States.