THE CUBA REVIEW. 



15 



FINANCIAL AND RAILROADS. 



National Bank Election. 



At the annual meeting of shareholders 

 of the National Bank of Cuba, held at 

 the offices of the bank Feb. 18, the follow- 

 ing officers and directors were elected: 



Officers. — Edmund G. Vaughan, president; Pedro 

 Gomez Mona, Samuel M. Jarvis, W. A. Merchant, 

 vice-presidents; H. Olavarria, cashier; W. A. M. 

 Vaughan, Ernesto Fonts y Sterling, A. A. Brown, 

 assistant cashiers; W. H. Morales, secretary; 

 Henry M. Earle, New York secretary; F. Sonderhof, 

 manager foreign exchange department; Alfredo 

 Beale, assistant manager foreign exchange depart- 

 ment; Oscar Fonts y Sterling, counsel; K. E. 

 Ulbricht. comptroller; Haskins & Sells, New York, 

 certified public accountants, auditors. 



Directors. — Jose M. Berriz, wholesale groceries, 

 vice-president Chamber of Commerce, Havana; Jules 

 S. Bache. of J. S. Bache & Co., bankers and 

 brokers, New York; Ernest Gaye, general agent 

 French Transatlantic Steamship lines, Havana; John 

 G. Carlisl.^, former Secretary of the Treasury of the 

 United States, New York; Pedro Gomez Mena, 

 wholesale drygoods, Havana, Cuba, and Manchester, 

 England; William I. Buchanan, capitalist, former 

 United States Minister to the Argentine Republic, 

 Buffalo; Oscar Fonts y Sterling, attorney at law, 

 Havana; Samuel M. Jarvis. capitalist. New York; 

 Jose Lopez Rodriguez, publisher and wholesale sta- 

 tioner, Havana; W. A. Merchant, vice-president; 

 Ignacio Nazabel, wholesale sugar, president Sugars 

 Company, Havana; Andrew W. Preston, president 

 United Fruit Company, Boston; Edmund G. 

 Vaughan, president. 



Havana Electric Ry. Bonds. 



Notice is given by the Havana Elec- 

 tric Railway Company that, pursuant to 

 the provisions of Article Fourteenth of the 

 mortgage and deed of trust executed by 

 the company to the Morton Trust Com- 

 pany of New York, as trustee, dated No- 

 vember 13, 1900, to secure its second 

 mortgage 6 per cent, gold bonds, it will 

 pay off at par and interest on the first 

 day of April, 1909, the whole of the 

 bonds numbered as follows: 



11 86 92 655 661 823 930 936 942 948 954 960 



12 87 286 656 662 824 931 937 943 949 955 961 

 21 88 287 657 817 926 9.32 938 944 950 956 962 



83 89 288 658 818 927 933 939 945 951 957 963 



84 90 289 659 821 928 934 94i) 946 952 958 964 



85 91 290 660 822 929 935 941 947 953 959 965 



Payment will be made at the office 

 of the Central Trust Company, in New 

 York. All bonds tiresented for payment 

 must be presented with all coupons ma- 

 turing on and after April 1, 1909. In- 

 terest on all bonds then ceases. 



Havana Bank's Capital Cut. 



It was stated Feb. 18 that the proposed 

 reduction in the capital of the Bank of 

 Havana from $2,500,000 to $1,000,000 has 

 been definitely decided upon by the com- 

 mittee of directors, which recently went 

 to Havana to decide the bank's future 

 policy. With its reduced capital, the 

 larger capital having been found to be 

 excessively large, it is expected the bank 

 will be able to make a very satisfactory 

 showing. 



The New York directors are John E. 

 Gardin, vice-president of the National 

 City Bank, and Alvin W. Krech, presi- 

 dent of the Equitable Trust Company. 

 Among the steps taken in connection 

 with the rearrangement of the bank's 

 capital will be a change in the Havana 

 managers of the bank, and new interests 

 may also come into the bank. The pur- 

 pose of the management of the bank is 

 to conduct a general commercial bank- 

 ing business. 



Tiburcio Castaneda, a promoter known 

 in Havana, in London and in the United 

 States, visited President Gomez, Feb. 16, 

 and proposed in the name of certain Euro- 

 pean bankers to make a loan of $15,000,- 

 000 for sewers in Havana and Cienfuegos, 

 which loan Provisional Governor Ma- 

 goon approved. Seiior Castaneda said 

 his bankers were ready to give a better 

 price than Speyer & Co., of New York, 

 gave for the first loan of $35,000,000 to 

 President Palma, which was 90. 



The Cuban government has not decided 

 to make the loan, deciding to try with 

 ordinary funds to pay for indispensable 

 public works, according to the obligation 

 with the United States. 



Sir William Van Home, on Feb. 23, 

 just returned from Havana, said: 



"Everybody in Cuba is happy; business 

 is good now, and it will improve stead- 

 ily. I have every confidence in the 

 future for the island, and am certain 

 that business will have an enormous 

 growth in the immediate future." 



QUOTATIONS FOR CUBAN SECURITIES. 



Supplied by LAWRENCE TURNURE & CO., New York City, March 6, 1909. 



Bid. 



•Republic of Cuba 5 per cent, bonds 102J/2 



Republic of Cuba 6 per cent, bonds 100 



Republic of Cuba 5 percent, new bonds (interior loan) 91 



Havana City first mortgage 6 per cent, bonds 105 



Havana City second mortgage 6 per cent, bonds 

 Cuba Railroad first mortgage 5 per cent, bonds . . . . 



Cuba Railroad preferred stock 



Cuba Company 6 per cent, debentures 



Havana Electric consolidated mortgage 5 per cent, bonds 



Havana Electric preferred stock 



Havana Electric common stock 



Matanzas City Market Place 8% bonds ctfs 



• All prices quoted on an "and interest basis." 



104 



96 



No 60 



market 78 



'" 83 



New York. 3g 



103 



Asked. 

 103^ 



lOI 



92 

 106 

 106 



98 



65 



8.S 



85 ■ 



41 

 104 



