THE CUBA REVIEW 



19 



THE TREASURY OF CUBA. 



Official Report of the Secretary of the Treasury, Showing Condition July 31, 1909. 



ASSETS. 



General Treasury: 



Cash on hand $350,820.32 



Deposited with the iSational Bank of Cuba 176,662.28 



Deposited with the Royal Bank of Canada 280.OU0.UO 



$807,482.60 



Collections: 



Efectivo en su poder $108,829.54 



Public Taxes: 



Balance against this account 8,875,488.40 



$9,791,800.54 

 LIABILITIES. 



Advance orders in transit $680,679.48 



Postal money orders 280,365.75 



Debts pending 19,995.93 



Honorary consuls 1,208.00 



Taxes on the loans 788,683.72 



On deposit for the loan 1st 50% 280,169.92 



Balance due to the Army of Liberation, 2d half 363,462.32 



Epidemic diseases 38,593.52 



Individual contracts 82,967.74 



Special Laws of 1906 1,443,337.66 



Special Laws of 1909 962,538.40 



Decree of the Provisional Governor 3,434,736.60 



Maintenance of detained immigrants 1,380.83 



Sewering and paving of the City of Havana 1,413,680.67 



$9,791,800.54 



Havana Electric Light & Gas Co. 



The board of directors of the Electric 

 Light & Gas Co. of Havana recently 

 declared a dividend of $3 per share, 

 American money, to stockholders of date 

 of July 31, which was payable at the 

 office of the company after August 16. 

 The company is greatly increasing its 

 equipment and facilities. 



It is laying large gas mains with con- 

 necting pipes and also electric cables 

 throughout Jesus del Monte and Cerro, 

 suburbs of Havana. When these mains 

 are laid all sections will have up-to-date 

 gas and electric service. 



The company is also enlarging and 

 remodeling their electric light and gas 

 plants. 



The New Cuban Bonds. 



The new Cuban external bond issue 

 is for $16,500,000, and $5,500,000_ of the 

 bonds are to be issued forthwith and 

 the balance within two years. It is un- 

 derstood that the price paid by the suc- 

 cessful bidders was 885^. As the bonds, 

 like the preceding $35,000,000 of Cuban 

 5 per cents., are put out with the ap- 

 proval of the United States government, 

 in accordance with the terms of the 



so-called Piatt amendment, it is pre- 

 sumed that when offered to the public 

 they will be readily absorbed by in- 

 vestors. — Bradstreet's, N. Y. 



Now that the Cuban loan has been 

 awarded to Speyer & Co. bond brokers 

 are expecting an active demand for them, 

 owing to the unique feature attaching 

 to the bonds. They will be issued by 

 authority and under the decree of Gov- 

 ernor Magoon, the provisional governor 

 appointed by the United States govern- 

 ment, and therefore there can be no 

 question as to their standing. It will be 

 recalled that Cuba cannot create any 

 bonded debt without, under the Piatt 

 amendment, getting the consent of the 

 United States government thereto, but 

 in this issue the bonds were directly au- 

 thorized by the United States govern- 

 ment, acting through its appointee, the 

 governor-general of Cuba. 



The custom receipts of the last few 

 years have averaged about $23,000,000 

 annually, which is not taking into ac- 

 count the special taxes which have been 

 amounting to nearly $3,500,000 annually 

 since they were created as a special 

 revenue applicable to the service of the 

 $35,000,000 loan which the Republic of 

 Cuba also placed with the Speyers some 

 few years ago. — Wall Street Journal. 



