. The Cuba review. THE CUBA REVIEW 17. Antilla. RAPID DEVELOPMENT OF ANTILLA DISTRICT Estimated expenditures during the next two years in the Antilla district will approximate $33,800,000. This amount will be disbursed almost entirely by private- enterprises, mainly in the sugar industry, to which the district is largely devoted, and- will be used for renewal of equipment and expansion of resources as well as devel-- opment of new enterprises. Much American capital has entered the district and the financing of American' enterprises is arranged in the United States. Financial requirements for l
. The Cuba review. THE CUBA REVIEW 17. Antilla. RAPID DEVELOPMENT OF ANTILLA DISTRICT Estimated expenditures during the next two years in the Antilla district will approximate $33,800,000. This amount will be disbursed almost entirely by private- enterprises, mainly in the sugar industry, to which the district is largely devoted, and- will be used for renewal of equipment and expansion of resources as well as devel-- opment of new enterprises. Much American capital has entered the district and the financing of American' enterprises is arranged in the United States. Financial requirements for local! (Cuban) interests can and are being met by local capital. Where land and funds are available there is, to my knowledge, no right of priority to construct such enter- prises, nor have I learned of any case in which the nationality of a concern acted' as an obstacle to its establishment here. First-mortgage bonds are the type of security generally used in the sugar business. LARGE SUMS INVESTED IN THE SUGAR INDUSTRY The war stimulus and world sugar shortage have caused an enormous amount of increased activity in the sugar industry, which in great measure is responsible for the present diversion of large sums to the erection of new mills and expansion of properties already established. The high price of raw sugar—double that of a year ago—is a compelling factor. During the past few months there have been a rush and activity in cane-land investment. It is the general opinion among local sugar experts that the present high market will hold for at least three years to come. An unfavorable relaxation may be apparent when European and other sugar producing centers recover from war effects sufficiently to influence the market, but little apprehension seems to be felt on the score at present. BANKING FACILITIES—INTEREST ON LOANS Banking business in this district is in the hands of the Royal Bank of Canada ; Banco Espanol de la Isla de Cviba; Banco Nacional de Cuba; and Banco
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