26 



THE CUBA REVIEW 



Net profit for the year 



Balance at Credit of profit and loss account, January 1, 1917 . 



Deduct: . > ,-, t-^i • -j i 



Provision for sinking fund of English bonds of Compania de Gas y i.lectncidad 



delaHabana ■ • • il ' ' J' ' ' 



Provision for sinking fund of Havana Electric Ry . Co. consolidate mtge bonds . . 

 Reserve for bad and doubtful debts 



Dividends Paid: 



On Preferred Shares: 

 May 15, 1917 on $14,999,827 at 3% . 

 Nov. 15, 1917 on $20,978,477 at 3%. 



On Common shares: 

 May 15, 1917 on $14,948,431 at 3% . . 

 Nov. 15, 1917 on $14,948,406 at 3%. 



Balance carried to balance sheet . 



$449,994.81 

 629,354.31 



$448,452.93 

 448,452.18 



$12,566.65 

 104,807.67 

 64,000.00 



$1,079,349.12 



896,905.11 



$2,403,416.96 

 2,024,501.78 



$4,427,918.74 



181,374.32 

 $4,246,544.42 



1,976,254.23 

 $2,270,290.19 



AN AUTUMN OFFENSIVE 



War in these days is conducted on so vast a 

 scale that every major operation, whether 

 financial or military, must be planned months 

 in advance. Men and money must be mar- 

 shalled and munitions manufactured long be- 

 fore the signal is given to open the engage- 

 ment. 



Far behind the lines, in Berlin, Hamburg 

 and other financial centres of Germany, the 

 enemy financiers last winter prepared the 

 Eighth Tyranny Loan, which brought in $3,- 

 600,000,000 in money of one sort or another 

 this spring. To-day they are getting their 

 people in line for the ninth loan. Since the 

 fall of 1914, the German war loans have been 

 offered regularly at intervals of six months or 

 so. If they work on schedule this time, the 

 Germans will be floating the ninth issue about 

 the time the Government of the United States 

 offers the Fourth Liberty Loan to Americans 

 this autumn. Thus both nations will be 

 tested at the same time and the American 

 dollar will compete with the German mark. 

 But this Government plans the greatest loan 

 of history. It is expected to be twice as much 

 as the Eighth Tyranny Loan and a bilUon 

 more than Great Britain's Victory Loan of 

 $5,000,000,000, which is the largest yet 

 floated in any country. 



So stupendous an undertaking as the Fourth 

 Liberty Loan requires the most careful plan- 

 ning on the part of every American, of what- 

 ever age or condition of bankroll. The time 

 to meet the call of the Fourth Liberty Loan is 

 now, and the way to meet it is by preparing a 

 programme of saving. The Germans are 

 busy right now on their loan. Are you pre- 

 paring for yours? To be thrifty and fore- 

 handed at this time is the task of every Amer- 



ican who wishes to take part in Uncle Sam's 

 financial offensive next autumn. To con- 

 serve resources, not only of labor and materials, 

 but also of credit and cash, is to perform a war 

 service of the first magnitude. 



SUGAR SYNDICATE 



Members of the $100,000,000 sugar syn- 

 dicate, organized in February at the request 

 of the International Sugar Committee and 

 the Food Administration to finance the Cuban 

 sugar crop, have received notification that 

 their assistance is not required any more. Al- 

 though the syndicate members will not be 

 called upon to furnish any more money, the 

 syndicate will remain in existence until Sept. 

 3, when the last of the outstanding ninety- 

 day paper matures. To date the total of 

 drafts drawn and notes issued under the $100,- 

 000,000 revolving credit, has amounted to 

 appro.ximately $16,000,000. 



CUBA CANE SUGAR CORPORATION 



The centrals of the Cuba Cane Sugar Cor- 

 poration have completed this season's grind- 

 ing with an output of 3,607,871 bags, which, 

 compared with the output for 1917, 3,261,621 

 bags, shows an increase of 346,250 bags. 



NEW YORK CHARTER 



Iowa Valley Sugar Co., Rochester, stated 

 capital to $1,155,000 and shares of preferred 

 stock, par value $100 to 11,000 shares; com- 

 mon stock, no par value to 11,000 shares. 



NEW YORK CHARTER 



A. M. Puente Co., Cuba, lumber, $30,000; 

 representative, G. W. Merchant, 34 Wall St. 



