THE 

 CUBA REVIEW 



"ALL ABOUT CUBA." 



Copyright, 1909, by the Munson Steamship Line 



LIBRARY 

 NEW YORK 



botanical 

 Garden. 



Volume VIL 



OCTOBER, 1909. 



NUMBER IL 



CUBAN GOVERNMENT MATTERS. 



Protest Over the Cuban Bonds — Ban on the Lottery — Contracts Cancelled — Cama- 

 guey Water-Works — Cuban Cartoons. 



Advices from Havana re- 



Protest ceived in New York told of 



over a protest made to President 



Bonds. Gomez on Sept. 16, by the 



unsuccessful bidders for the 



recent $16,500,000 issue of 4^ per cent. 



bonds of the Republic of Cuba issued to 



Speyer & Co. on August 26, which was 



submitted to the Government authorities 



as preliminary to court action. The 



protestants were William Salomon & 



Co., Ladenburg, Thalmann & Co., and 



J. & W. Seligman, of New York. 



The clause in Speyer & Co.'s agree- 

 ment with the Republic of Cuba which 

 is considered most objectionable is the 

 provision which gives Speyer & Co. the 

 preference in all loans to be made in the 

 next ten years, provided that the terms 

 made by that tirm are as favorable as 

 those made by other bidders. This is 

 the clause which is said not to have Ijeen 

 incorporated in the original call for bids, 

 and is asserted to have had some influ- 

 ence on the bids submitted by Speyer 

 & Co. 



On the following day two of the pro- 

 testing firms withdrew their complaint 

 as they discovered they had been acting 

 under a misapprehension. It developed 

 later that the only prior right given to 

 Speyer & Co. was to resell the present 

 issue of bonds in case the Cuban Gov- 

 ernment should buy them in and wish 

 to resell them, and that the firm have no 

 prior right in bidding for new bonds. 



Out of the original issue $1,750,000 

 was put out in London, and the Stock 



Chalet del Presidente General Jose Miguel 

 Gomez, Vivora, visto de frente. 



Chalet of the President, General Jose Miguel 

 Gomez, Vivora. Front view. 



Exchange admitted to listing temporary 

 certificates representing subscriptions to 

 the $3,750,000 ouered in New York. The 

 bonds were inany times oversubscribed 

 and sold at a premium of 3 per cent, on 

 the day the lists closed, September 8. 



The increase in the customs revenue 

 and especially at the Havana custom 

 house, continues; the September report, 

 issued Oct. 1, shows an increase of $347,- 

 820.39 over the same period in 1908. 



The total revenues collected in the 

 port of Havana during September was 

 $1,563,898.15, as against $1,216,077.76 se- 

 cured in 1908; and $47,643.62 more than 

 the amount collected in August. 



