26 



THE CUBA REVIEW 



Ratio operating expenses to gross. 



Net earnings 



Other ineoine 



(70.21) (48.40) (47.61) (52.16) 



$1,922,146 $3,517,027 $2,727,540 $2,470,922 



12,386 6,633 



Gross income $1 ,934,532 $3,523,659 



Interest on funded debt, etc 1,140,715 978,244 



Preferred dividend +(6%) 600,000 (6)600,000 



Common dividends (6%)720,000 



$2,727,540 $2,470,922 



853,856 954,417 



(6)600,000 (9)900,000 



(6)600,000 (6)600,000 



Balance surplus $193,817 *$1,225,415 $673,684 $16,505 



*In 1915-10 the company paid on the common stock, in addition to the usual distributions 

 in cash aggregating 6 p. c. for the year, dividends in common stock amounting to $5,000,000 

 out of profit and loss, viz.: $2,000,000 paid January 3, 1916, and $3,000,000 June 30, 1916, 

 increasing the common as per balance sheet from $10,000,000 to $15,000,000. 



flncludes dividend of 3% paid February 1, 1917, also the 3% paid August 31. 

 General Balance Sheet June 30. 



1917 



1916 



Assets: 



Cost road and equip . . 



Republic of Cuba 6% 

 treasury bonds 



Mar. & Ind. Co. of 

 Cuba stock 



Camaguey & Nue. R. 

 R. stock pledged — 



Adv. to Camag. & Nue 

 RR. for construction 

 of PasteliUo termls. . 



Material and supplies. 



Cash 



Agts. and conductors. 



Cos. and individuals . . 



Traffic balances 



Govt, of Cuba 



Advance payments. . . 



Expend, acct. of revo- 

 lution damages 



Deferred items 



47,320,017 43,516,453 



44,800 



179,805 215,805 



2,692,700 2,692,700 



1917 1916 



Liabilities : $ $ 



Preferred stock 10,000,000 10,000,000 



Common stock 15,550,000 15,550,000 



1st M. bonds, 5%. . . . 12,030,000 12,030,000 



Impr. & equip, 5s 4,000,000 4,000,000 



3-year 5% notes 3,000,000 3,000,000 



Trust equip, ctfs 3,574,000 1,943,000 



Total 55,046,133 49,950,926 Total 55,046,133 49,950,926 



JAfter deducting $54,000 2d instal. of subsidy on Trinidad branch, but deducting $300,000 

 pref. dividends payable August 31, 1917. 



CUBA COMPANY 



(Report for Fiscal Year Ending June 30, 1917.) 

 President George H. Whigham, N. Y., August 29, wrote in substance: 

 Results. — Your profits from the Jatibonico sugar mill and plantations were $764,516; 

 from the Jobabo sugar mill and plantations, $198,360; and from the land department, $40,214. 

 Adding to these the other income of .$29,185, the total income amounted to $1,032,275, which, 

 after deducting interest on debenture bonds, $240,000, and general expenses, $161,429, leaves 

 a net income carried to profit and loss account of $630,845. The large decrease in the company's 

 profits, as compared with the two previous years is entirely due to the losses sufl'ered at your 

 two mills and by the Cuba RR. during the recent political disturbance in the island. 



