Hugh Kelly

Hugh Kelly (1858-1908) was born in Chicago but after year his family relocated to New York City where he was rasped and went to school and eventually received a law Degree from Fordham University School of Law. he was at one time president of Oriental Bank and at the time of his death president of Central Teresa Sugar Co. in Cuba and Central Ansonia Sugar Co. and the Porvenir Sugar Co. in Santo Domingo, now the Dominican Republic.

In 1883 American Joseph Rigney-Norton established a small sugar mill in Manzanillo, Oriente Province, Cuba he called Ingenio Cupey. In 1895 the Central Teresa Sugar Co. was incorporated in New Jersey with a paid -in capital of $300,000 by Franklin Farrell owner of Farrel Foundry & Machine Co. in Ansonia, CT (55%), Joseph Rigney-Norton (40%), Hugh Kelly (4.9%) and James B. Bill (0.1%). The company was established to acquire and operate Ingenio Cupey and exploit approximately 81,000 acres of land planted with sugarcane many through the colono system. Initial total investment to establish the mill was calculated at $1.565 million in 1902, the single largest investment of American capital in the sugar industry in Cuba since the acquisition in 1884 of Central Soledad in Cienfuegos by Edwin F. Atkins & Co.

Hubert Edson in his book SUGaR - From Scarcity to Surplus states that his first job of the West india Management and Consultation Co. was to personally inspect the properties of the family and associates of Hugh Kelly consisting of Central Teresa in Cubaand Ingenio Porvenr and Ingenio Ansonia in Santo Domingo, now the Dominican Republic. He states that regarding the financing previously provided by the West India Sugar Finance Corporation, officers of the Kelly company had represented Central Teresa as their most valuable property, the one most likely to produce low-cost sugar. Upon his inspection of the three properties Edson concluded that only one of the three, Ingenio Porvenir, would be able to loans made to them.

When WWI broke out in Europe creating a complete unbalance in the world’s sugar market. The decimation of the sugar beet industry created a sudden increase in prices that created a rush to get new investors and new capital in the sugar industry. Existing sugar properties that could hardly be given away suddenly became valuable and were sought after by buyers. All three Kelly factories benefited from this, successfully harvesting their crops for the higher paying market. An offer to buy Central Teresa was made by a syndicate headed by a New Orleans machine manufacturer and the sale made for $800,000 as Edson puts it “near twice the price at which I would have still urged its sale”. The syndicate rehabilitated the factor, operated it for a short time and then resold it.

benefited producers in the Americas.

Central Ofelia entre 1926 y 1948 y finalmente Santa Regina a partir de 1948