Francisco Industries, Inc. (FRAZ)

[MONEYMADE]

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Nearly 80 percent of all Cuban sugar was being sold to U.S. markets in 1929, but the industry had to compete against tariff-protected growers in the possessions of Hawaii, the Philippines, and Puerto Rico, as well as in the mainland United States. The situation worsened during the Great Depression, as demand fell. The Francisco, Manati, and Cespedes sugar companies, forced into receivership, were reorganized under the continued control of the Riondas. Washington Sugar and Central San Vicente were sold. Cuba Cane Sugar was dissolved in 1938.