Central Manatí

In 1911, Manuel Rionda brought together a group of investors that included, Claus Spreckels , Edmund Converse , Regino Truffin, Joseph R. de Lamar , the law firm Sullivan & Comwell and the financial house of J. & W. Seligman & Co.   to exploit extensive land holdings around the Bahia de Manatí, twice the size of Havana harbor.

The Manatí Sugar Company was incorporated in New York on April 30, 1912 with a capitalization of $1.5 million to build the very large Central Manatí.  It was an immense undertaking that presaged Rionda's most ambitious business venture, the Cuba Cane Sugar Corporation in 1915.  Its Board of Directors was comprised of Regino Truffin, president; Rionda, Alfred Jaretzki of Sullivan & Cromwell and Frederick Strauss, vicepresidents and the Marquis de San Miguel de Aguayo Eduardo de Uzurrún, was the General Manager.

Manati traditionally paid annual cash dividends of 10% on its common stock.