20 



THE CUBA REVIEW. 



RAILROADS AND FINANCIAL. 

 Report of the Cuba Company — Dividend of the Havana Electric Co., Etc. 



Cuba Railroad's December Earnings. Railroad, the Cuba Eastern Terminals 



Surplus, 41,702, against $14,529 in 1907; Company, and the Eastern Railroad of 



six months $128,361, :against $73,211 in Cuba, the four companies concerned m 



1907. the reorganization, are to receive under 



The report of the Cuba Railroad for the the plan $500 in new first preferred stock 



month of December and six months end- and $500 in common stock for each of 



ed December 31, compares as follows: their bonds. The debenture bonds of the 



1908 1907 1906 Cuba Eastern and the Northeastern Cuba 



December gross.... $174-348 $149,723 $152,577 Railroads will receive $500 in the new 



E-P^"^" '°°''^-^ '°''''' _i!:!l! second preferred stock for their bonds. 



December net .. $74,204 $45,689 $58,728 There will remain in the treasury $136,- 



Charges 32,502 3i.i6o 28,329 500 of the new first preferred stock, 



December surplus.. $41,702 $14,529 $25,399 $139,500 of the new second preferred 



Six months gross.. 847,610 869,332 794,6i3 stock, and $136,500 of the new common. 



Expenses 524,976 623,316 620,276 



Six months net.. $322,634 $246,016 $174,337 Progress of Cuban "Loop." 



Charges '94,273 172,805 '55,955 ^^^y. ^^ ^j^^ .j^^,^ y^^^,. ^f ^j^^ ^uba 



Six months surplus $128,361 $73,2ii $18,382 Railroad from San Luis, as an eastern 



It is understood that the Cuba Com- terminus, to Marti, with Bayamo as 

 pany will soon start a large number of chief city included en route, is pro- 

 improvements, Sir William Home hav- gressing satisfactorily. 



ing expressed himself in very optimis- "Twelve miles of the extension, from 



tic terms of business conditions in gen- San Luis west to Palma, Soriano, have 



eral. Among the improvements planned been completed, and six miles have been 



is the construction of model stations at completed at the western end, from 



Holguin and at Camaguey; the construe- Marti to Guaimaro," said Sir William, 



tion of a line uniting the former with Jan. 13. "In all the loop is to ue 140 



Nipe Bay, touching at Alcala, and a miles long, and it will penetrate rnany 



branch line uniting Puerto Padre with old settlements and sugar plantations, 



the trunk line. to which lateral lines and spurs of 



__ greater or less length will be extended 



Cuban Railroads Reorganize. as circumstances warrant. Bayamo, 



A plan of reorganization of the Cuba about sixty miles out of San Luis, is the 



Eastern Railroad Company and its sub- chief old town reached, and a road 



sidiaries, financed by the Knickerbocker about thirty miles long is to_ be built 



Trust Company, has been proposed by from Bayamo down to Manzanillo at the 



the Bondholders' Committee. They are coast. 



in favor of the formation of a new cor- "The Cuba Railroad covers about sev- 



poration, which will issue $600,000 first enty per cent, of the area of the island, 



mortgage bonds, $2,750,000 first pre- and at Santa Clara, its western terminus, 



ferred mortgage bonds, $2,750,000 second connects with the United Railway of 



preferred, and $2,500,000 common stock. Havana. From Santa Clara to San- 



The reorganization proposed will be with tiago, the main line is 356 miles, and 



the approval of the trust company. there are 835^ miles of branches com- 



The bonds are to bear 6 per cent, in- pleted. 

 terest and mature in twenty years, being "Work on the new branches of the 



redeemable at par and interest on any railroad continues with large forces of 



interest date. The first preferred stock men, except during the sugar season, 



is to be 7 per cent, and the second pre- when men are allowed to go to work on 



ferred 5 per cent., both non-cumulative, the plantations to helo harvest the crop 



After the payment of the preferred divi- and prepare it for shipment, much the 



dends and 5 per cent, on the common same as on western harvest fields." — 



stock in any one year, dividends are to Interview with Sir Wm. Van Home, 



be declared equally on all classes of se- N. Y. Herald, Jan. 14. 



curities. It is also provided that equip- 



ment trust certificates may be ordered The directors of the Havana Electric 



to cover new equipment. Railway Company on Jan. IS declared an 



The new bonds are to be offered for initial dividend of 1 per cent, on the corn- 

 subscription at 85, and will carry a men stock and the regular quarterly divi- 

 bonus of $250 In first preferred and the dend of 1^ per cent, on the preferred 

 same amount in common stock. The stock, both payable February 15 to stock 

 first mortgage bondholders of the Cuba of record January 23. The annual meet- 

 Eastern Railroad, the Northeastern Cuba ing will be held February 23 at Jersey City. 



