Cuban Dominican Sugar Co. - Bond (Uncanceled)Inv# FB5110
Below from jaimemontilla.net:
The Cuban Dominican Sugar Co. was incorporated in Maryland on March 22, 1922 as a holding company to take over the sugar estates owned by the Cuban Dominican Sugar Development Syndicate. The subsidiary companies of the Cuban Dominican Sugar Co. were:
- Compańia Azucarera Dominicana C por A - owner of Ingenio Consuelo and Ingenio San Isisdro in the Dominican republic, acquired from the firm Bartram Bros. who in turn had acquired them in foreclouse from Jose Eleuterio Hatton.
- The Barahona Sugar Co. - owner through its subsidiaries some 45,000 acres of land and Ingenio Barahona in the town of the same name.
- The Santa Ana Sugar Co. was incorporated under the laws of Cuba to engage in the production of raw sugar. In the early 1920s it was sole owner of Central Santa Ana acquired from Azua & Escoriza, Central Hatillo from F. Fernandez and Central America from F. Almeida, all located in the province of Oriente in Cuba.
The stockholders of the West india Sugar Finance Co. approved the liquidation of the company in November 1924. As a result, the Howell group then consisted only of the Cuban Dominican Sugar Co. and Sugar Estates of Oriente, Inc.
Plans for the reorganiation of the Cuban Dominican Sugar Co. and Sugar Estates of Oriente, Inc. were already under way in mid 1931 but did not go into effect until January 1933. As a result of the reorganiation plan, a new corporation, the West Indies Sugar Corp. was established. The plan called for the West Indies Sugar Corp. to acquire substantially all assets of The Cuban Dominican Sugar Co. and through a wholly owned subsidiary, all assets of Sugar Estates of Oriente, Inc. As part of the reorgannization, the West Indies Sugar Corp. would also own all common stock of the Barahona Sugar Co.
In January 1949, the West Indies Sugar Corp. entered into an agreement to acquire the sugar mill properties of the Compańia Azucarera Boca Chica, owner of Ingenio Boca Chica near the Dominican capital of Santo Domingo. In July 1942, shares of the West Indies Sugar Corp. began to be traded in the NY Stock Exchange.
The West Indies Sugar Corp. continued to operate its Dominican Republic properties until 1957 when they were acquired by dictator Rafael Leonidas Trujillo in a transaction through Rio Haina C por A. The January 29, 1957 edition of the NY Times reported that "...The lands acquired by the Haina Company total more than 270,000 acres. Also covered by the transaction were the West Indies Sugar Co. railway lines and other lands and maritime communication facilities and in general all of the properties owned by the West Indies Sugar Co. five affiliate companies in the Dominican Republic: Compańia Azucarera Dominicana, Ingenio Barahona, Boca Chica Sugar Central, Compańia de Melazas Dominicanas and Compańia Agricola Dominicana..."
At this time we have not verified the final dispostion of the West Indies Sugar Corp. Cuban properties but it is reasonable to believe they were nationalized by the Fidel Castro regime in 1960.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
Item ordered may not be exact piece shown. All original and authentic.