•24 



THE CUBA REVIEW 



Its enormous cash movement during the past year is shown in the statistical figures given 

 •out in the President's last annual report, as follows: 



Cash operations in 1917 $4,417,000,000.00 



Exchange department 469,000,000.00 



Collections 625,000,000.00 



Loans 49,325,202.74 



Savings deposits _ 18,661,565.76 



Individual deposit accounts $69,154 



Savings deposit accounts 35,732 



The soundness of Cuban banking interests, as typified by the National Bank of Cuba, is 

 ■demonstrated, if further proof were necessary, Vjy the remarkable fact that the country lias been 

 able to finance its present huge sugar crop, calculated at the unprecedented value of over 

 $400,000,000, by the use of its regular banking facilities, on an elaborate scale at home and 

 abroad, without diverting from the channels of circulation in the United States the munificent 

 offer of $100,000,000 tendered as a loan by the bankers of America through the United States 

 Food Commission, in the interest of the cause of the Allies. 



For this mark of unlimited confidence in Cuban banking credit the financial interests of 

 the country are sensibly grateful, and it is a satisfaction to the Cuban people to realize that 

 the stock of Cuban sugar in prospect at the end of the season in June will doubtless meet the 

 needs of the AUied nations until the next crops in the United States and Cuba are harvested. 



PUBLIC DEBT 



A review of the public debt states that the 

 revolutionary bonds issued in 1896 and 1897 

 have all been liquidated except $8,036, wliich 

 have not yet been presented for payment. 

 The $35,000,000 loan made by Speyer & Co. 

 had decreased on April 1, 1918, to $26,722,000. 

 The coupons due up to April 24th, 1918, have 

 been paid with the exception of $59,627, 

 which have not been presented for payment. 

 The interest on the $16,500,000 loan made 

 by Speyer & Co. is $61,875 monthly and is 

 being paid regularly. The interest on the 

 $10,000,000 Morgan & Co. loan has been 

 paid punctually to date. All other debts of 

 the nation are being liquidated in accordance 

 with their terms and the proinises of the 

 Government. 



BANK OF CUBA DIVIDEND INCREASE 



Evidence of the activity and good profit 

 enjoyed by concerns doing business with Cuba 

 is supphed by the increased dividend an- 

 nounced by the Bank of Cuba in New York. 

 The semi-aniiual rate was advanced from 5 

 to 6 per cent., putting the stock on a 12 per 

 cent, annual basis. Since the bank was or- 

 ganized with a State charter, to succeed the 

 agency of the National Bank of Cuba two 

 years ago, 20 per cent, in dividends have 

 been paid,, exclusive of the one voted, 

 and an amount equal to 20 per cent, has been 

 set aside from earnings in the undivided profit 



account. The dividend will be paid July 1 

 to stockholders of record June 20. 



CIENFUEGOS AQUEDUCT COMPANY 



The shares of the Cienfuegos Aqueduct 

 Company, constituted with a capital of 

 $1,000,000 in $100 shares were signed June 4. 

 The officers of the company are: Sr. Jose 

 Lopez Rodriguez, president; Sr. Primitivo 

 Portal, vice president; Sr. Basilio Zarasqueta, 

 treasurer; Sr. Saturnino Parajon, director; 

 Sr. Corsino Bustillo, vocal. The officers will 

 hold office until 1928. 



CUBA CANE SUGAR CORPORATION 



A quarterly dividend of $1.75 per share has 

 been declared upon the preferred stock of 

 this corporation for the quarter ending 

 June 30th, 1918, payable July 1st, 1918, to 

 stockholders of record at the close of business 

 June 15th, 1918. 



CARDENAS-AMERICAN SUGAR COMPANY 



The Board of Directors of the Cardenas- 

 American Sugar Company has declared a 

 regular quarterly dividenil of one dollar and 

 seventy -five cents ($1.75) per share on the 

 outstanding preferred stock of the Company 

 for the quarter ending June 30, 1918, payable 

 Monday, July 1, 1918, to stockholders of 

 record at the close of business Monday, 

 June 24, 1918. 



