THECUBAREVIEW 27 



CUBAN FINANCIAL MATTERS 



EARNINGS OF THE HAVANA ELECTRIC RAILWAY. LIGHT & POWER CO. 



Month of September: 1918 1917 1916 1915 



Gross earnings $714,696 $617,641 $507,562 $443,502 



Operating expenses 323,241 260,586 187,561 183,372 



Net earnings $391,455 $357,055 $320,001 $260,130 



Miscellaneous income 15,463 9,046 10,840 8,052 



Total net income $406,918 $366,101 $330,841 $268,182 



Surplus after deducting fixed charges 245,030 212,745 201,587 161,344 



Nine months to Sept 30: 



Gross earnings $6,042,506 $5,036,586 $4,407,453 $4,108,935 



Operating expenses 2,765,347 2,185,469 1,692,626 1,683,839 



Net earnings $3,277,159 $2,851,117 $2,714,828 $2,425,096 



Miscellaneous income 107,957 106,450 99,929 76,917 



Total net income $3,385,116 $2,957,567 $2,814,756 $2,502,013 



Surplus after deducting fixed charges 2,119,269 1,544,153 1,660,101 1,524,847 



THE PREVAILING PRICES FOR CUBAN SECURITIES 



As quoted by LawrenceTurnure & Co., New York 



Bid. Asked. 



Republic of Cuba Interior Loan 5% Bonds 87 88 



Republic of Cuba Exterior Loan 5% Bonds of 1944 94 95 



Republic of Cuba Exterior Loan 5% Bonds of 1949 90 93 



Republic of Cuba Exierior Loan ^]4% Bonds of 1949 78 80 



Havana City Firt,t Mortgage 6% Bonds 100 102 



Havana City Second Mortgage 6% Bonds 100 02 



Cuba Railroad Co. Preferred Stock 75 82 



Cuba Railroad Co. First Mortgage 5% Bonds of 1952 74 82 



Cuba Co. 7% Cumulative Preferred Stock 90 92 



Havana Electric Railway Co. Consolidated Mortgage 5% Bonds 85 £0 



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



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



Matanzas Market Place 8% Bond Participation Certificates 100 102 



Cuban-American Sugar Co., Preferred Stock 95 100 



Cuban-American Sugar Co., Common Stock 



Guantanamo Sugar Company Stock %^Q $52 



Santiago Electric Light & Traction Co. 1st Mortgage 5% Bonds 85 88 



Cuba Company 6% Debenture Bonds 88 93 



