16 



THE CUBA REVIEW 



CUBAN FINANCIAL MATTERS 



EARNINGS OF THE HAVANA ELECTRIC RAILWAY LIGHT & POWER CO. 



Month of December: 1917 1916 1915 



Gross earnings $673,789 $560,270 $487,667 



Operating expenses 295,086 212,438 186,031 



Net earnings 378,703 347,832 301,636 



Miscellaneous income 21,434 16,942 29,616 



Total net income 400,137 364,774 331,252 



Surplus after deducting fixed charges 282,786 234,293 205,793 



12 months to December 31: 



Gross earnings $6,989,599 



Operating expenses 3,046,733 



Net earnings 3,942,866 3,721,339 3,303,785 



Miscellaneous income 149,755 144,561 154,321 



Total net income 4,092,621 3,865,900 3,458,106 



Surplus after deducting fixed charges 2,628,204 2,314,401 2,140,562 



EARNINGS OF THE UNITED RAILWAYS OF HAVANA 



5,017,709 $5,541,303 

 2,296,370 2,237,518 



Weekly receipts: 



Week ending Dec. 29th. 

 Week ending Jan. 5th. . 

 Week ending Jan. 12th. 

 Week ending Jan. 19th . 



Weekly receipts : 

 Week ending Jan. 5th. . 

 Week ending Jan. r2th. 

 Week ending Jan. 19th . 

 Week ending Jan. 26th . 

 Week ending Feb. 2d. . 



1917-18 



£54,965 



56,416 



66,306 



77,401 



1917 

 £40,885 

 44,987 

 52,145 

 54,824 



1916 

 £40,742 

 50,780 

 55,487 

 55,475 



1915 



£27,789 



33,212 



38,277 



39,996 



1914 

 £36,732 

 43,580 

 40,429 

 47,084 



1914 

 $457,284 

 203,530 

 253,754 



5,514 

 259,268 

 154,555 



15,396,714 

 2,501,026 

 2,895,688 

 102,119 

 2,997,807 

 1,711,780 



1913 



£35,764 



35,209 



43,137 



43,795 



NEW CUBA CANE DIRECTORS 

 The annual meeting of stockholders of the 

 Cuba Cane Sugar Corporation was held in 

 New York, January 14, when W. P. Conway, 

 Henry F. Kroyer, and Charles D. Lithgow 

 were elected directors of the corporation to 

 succeed C. N. Bliss, Jr., Orestes Ferrara, and 

 G. H. Whigham, retired. The other directors 

 whose terms expired were re-elected. 



Replying to questions from stockholders, 

 Vice-President Alfred Jaretzki said that the 

 company had reduced its net liabilities from 

 $11,000,000 to .16,000,000 and that there was 

 sufficient cane planted to supply grinding re- 

 quirements for several years. He stated that 

 there was no likehhood of a dividend being 

 declared on the common stock untU the end 

 of the grmding season, when the company 

 will be in a position to know what its actual 

 profits are going to be. 



THIRD LIBERTY LOAN 

 The Liberty Loan Committee of the United 

 States announces the flotation of the Third 

 Liberty Loan bond issue, to start the middle 

 of February or the fir.st of March. The 

 amount of money to be raised is much greater 



than was raised in both of the previous 

 loans, and the call upon the country's re- 

 sources and upon ever}' citizen will be greater 

 than ever. The Committee wishes to call the 

 attention of every citizen of the United States 

 to his duty to conserve and be thrifty. 



CUBA RAILROAD CO. 



The Cuba Railroad Company has declared 

 a scrip dividend of 3'"; on the preferred stock, 

 payable Feb. 1 to stockholders of record Jan. 

 26, and redeemable on Feb. 1, 1921, or earlier, 

 at the option of the company. The paper 

 bears 6% interest, payable annually Feb. 1, 

 of each year until the time appointed for 

 payment. 



THE CUBAN-AMERICAN SUGAR COMPANY 



A quarterly dividend of two-and one-half 

 per cent i2}4%) has been declared on the 

 outstanding common capital stock, payable 

 April, 1918, to stockholders of record ALarch 

 15, 1918. 



Checks for the payment of the dividend 

 will be mailed. 



Transfer books will not be closed. 



