The Francisco Sugar Company was incorporated in New Jersey on February 20, 1899 and was the second of the Riondas' sugar factories. It was named after Francisco Rionda y Polledo who acquired the company's lands shortly before his death in 1898. The estate was situated in southeastern Camagüey province in the area surrounding the coastal town of Guayabal. The company's mill ground its first cane in 1902. In 1921, the Francisco Sugar Company purchased the common stock of the Compañía Azucarera Elia which owned the Central Elia and lands adjacent to Francisco. In 1952, the Compañía Azucarera Elia was dissolved and management of the Elia passed to the Elia Division of the Francisco Sugar Company.
In addition to the two mills, warehouse facilities, and 117 miles of railroad, the company also owned and operated two cane farms and the Port of Guayabal. During World War II, the company set up an alcohol distillery, the Compañía Industrial Sevilla, which was later merged into the Francisco Sugar Company as the Sevilla Division. Other holdings included the "El Indio" cattle ranch and part ownership of a wallboard factory, the Compañía Cubana Primadera.
The Manati Sugar Company was incorporated in New York on April 30, 1912 , and operated the Riondas' largest sugar factory, the Central Manatí. The mill was located in the northwest corner of Oriente Province, but the company's vast land holdings--over 200,000 acres--extended into Camagüey. Of those 200,000 acres, only 30,000 acres were under cultivation. In the 1950s, portions of the unused lands were sold to a joint venture undertaken by Manati and King Ranch of Texas. The two companies formed the Compañía Ganadera Becerra, which owned 40,000 acres of land and over 7,500 head of cattle.
Record Group 4 of the Braga Brothers Collection contains the records of business firms associated with the Czarnikow-Rionda Company. The principal holdings in Record Group 4 are the records of the Francisco Sugar Company and the Manati Sugar Company. There are smaller holdings for thirteen additional companies, including several short-lived experimental ventures and minor auxiliary companies. Although most of the companies were based in Cuba, the records in this group originated primarily from the companies' New York offices. In addition, there are records of the W. J. McCahan Sugar Refining and Molasses Company, a refinery in Philadelphia.
The Commission has decided that in certifications of loss on claims
determined pursuant to Title V of the International Claims Settlement Act
of 1949, as amended, interest should be included at the rate of 6% per
annum from the date of loss to the date of settlement (see Claim of Lisle
Co.~_q~poratio___~_n, Claim No. CU-0644), and in the instant case it is so ordered
THE FRANCISCO SUGAR COMPANY
November 23, 1959 $ 2,994.10
May 25, 1960 3,067.14
August 6, 1960 52~637~377.13 $52,643,438.37