THE CUBA REVIEW 



23 



CUBAN FINANCIAL MATTERS 



THE PREVAILING PRICES FOR CUBAN SECURITIES 



As QuoUd by Lawrence Turnure & Co., New York. 



Bid Asked 



Republic of Cuba Interior Loan 5% Bonds 87M 89 



Republic of Cuba Exterior Loan 5% Bonds of 1944 97 100 



RepubUc of Cuba Exterior Loan 5% Bonds of 1949 92}^ 94}^^ 



RepubUc of Cuba Exterior Loan 43^% Bonds of 1949 80 83 



Havana City First Mortgage 6% Bonds • 100 102 



Havana City Second Mortgage 6% Bonds 100 102 



Cuba Raikoad Co. Preferred Stock 70 80 



Cuba Raib-oad Co. First Mortgage 5% Bonds of 1952 70 82 



Cuba Company 6% Debenture Bonds 85 95 



Cuba Co. 7% Cumulative Preferred Stock 75 100 



Havana Electric Railway Co. Consolidated Mortgage 5% Bonds 87 90 



Havana Electric Railway, Light & Power Co., Preferred Stock 102 107 



Havana Electric Railway. Light & Power Co., Common Stock 90 100 



Mataniaa Market Place 8% Bond Participation Certificates 100 none 



Cuban-American Sugar Co. Preferred Stock 140 160 



Cuban-Ani'.'rican Sugar Co. Common .Stock 90 100 



GuantanauK) Sugar Company Stock S57 $60 



Santiago Electric Light and Traction Co. 1st Mtge. 6% Bonds 87% 90% 



CUBA CANE SUGAR CORPORATION 



SECOND ANNUAL REPORT FOR THE FISCAL YEAR ENDED SEPT. 30. 1917 



New York, December 18, 1917. 



The second fiscal year of the company ended on September 30, 1917. The series of cir- 

 cumstances which resulted in the 1916-1917 crop not being as satisfactory as the Board had 

 anticipated, may be enumerated as follows: 



First — Exceedingly low sucrose in the cane. 



This was a condition that prevailed throughout the Island of Cuba during the crop of 

 1916-1917. 



As was stated in our annual report of the previous year, there had been unusually heavy 

 rains in November, 1916, and we then feared that their effect on the crop would be adverse. 

 Unfortunately that was the case, the richness in the cane having decreased, resulting in an 

 average yield less than in the previous year by 0.55 pounds of sugar per 100 pounds of cane 

 ground. 



On a total of 4,423,905 tons of cane ground by your company, this decrease represents 

 over 54,000,000 pounds of sugar less than the yield from the same amount of cane during 

 the previous crop. 



As the colono (tenant farmer) received a definite number of pounds of sugar for every one 

 hundred pounds of cane delivered by him to the mill, irrespective of the yield of sucrose in the 

 cane, the entire loss fell on the company. 



Second — The insurrection in Cuba. 



This broke out suddenly in February of this year and was not completely put down until 

 the end of April. Its collapse was due to the energetic measures taken by President Menocal. 

 During its brief existence considerable damage was done, particularly in the eastern provinces. 



The properties of the four plantations in the eastern section of Cuba did not suffer any 

 damage, but had much cane burnt, part of which burnt cane was ground, but at a consider- 

 able loss of sucrose. 



