THE CUBA R E V I E \V 



EARNINGS OF THE HAVANA ELECTRIC RAILWAY, LIGHT & TOWER CO. 

 Monthof April: L919 L918 1917 L916 L915 



Gross earnings +71!».7J:i $663,345 $534,613 $466,554 $434,159 



Operating expenses 367,833 301,377 230,195 L87,623 L88,160 



Net earnings 381,910 361,968 304,418 278,931 245,999 



Miscellaneous income L2,641 L8,144 Ll,875 L3.178 11,304 



Total net income 394,551 380,112 316,293 292,109 257,303 



Surplus after deducting fixed charges.. 235,703 218,867 L50,571 L61,644 149,241 



/ Mont/is to April 30th: 



Gross earnings 2,836,512 2,567,536 2,131,823 L,918,787 L,824,473 



Operating expenses 1,423,501 1,169,201 908,397 748,380 749,459 



Net earnings 1,413,011 1,398,335 1,223,426 1,170,407 1,075,014 



Miscellaneous income 32,940 53,701 47,626 46,675 34,673 



Total net income $1,445,951 $1,452,036 $1,271,052 $1,217,082 $1,109,687 



Surplus after deducting fixed charges 830,147 807,054 617,818 721,640 67o,848 



CUBAN FINANCIAL MATTERS 



THE PREVAILING PRICES FOR CUBAN SECURITIES 



As Quoted- by Lawrence Turnure & Co., Xew York. 



m<i Asked 



% % 



Republic of Cuba Interior Loan 5% Bonds 85 



Republic of Cuba Exterior Loan 5% Bonds of 1944 98 99 



Republic of Cuba Exterior Loan 5% Bonds of 1949 91 y 3 93 



Republic of Cuba Exterior Loan 4y 2 % Bonds of 1949 Siy 2 83 



Havana City First Mortgage 0% Bonds 100 102 



Havana City Second Mortgage 6% Bonds 98 100 



Cuba Railroad Preferred Stock 75 80 



Cuba Railroad Co. First Mortgage 5% Bonds of 1952 88 88% 



Cuba Company 6% Debenture Bonds 02 95 



Cuba Co. 7% Cumulative Preferred Stock s< » 00 



Havana Electric Rway., Light & Power Co. Preferred Stock 10S 109 



Havana Electric Rway Co. Consolidated Mortgage 5% Bonds 88 



Havana Electric Rway., Light & Power Co. Common Stock 1<»0 102 



Matanzas Market Place 8% Bond Participation Certificates 100 



Cuban-American Sugar Co. Preferred Stock 105 



Cuban-American Sugar Co. Common Stock 195 



Guantanamo Sugar Company Stock s -> ' - s ^-' 



% 

 Santiago Electric Light & Traction Co. 1st Mtge. 6% Bonds s < ' 



108 



205 



CUBA SUBMARINE TELEGRAPH CO. 000, and the dividend and bonus, of 5 per 

 In the past year the total receipts of cent, and 4s per share, respectively, free 

 the Cuba Submarine Telegraph Company of tax, are to be repeated, the distribu- 

 rose from £72,531 to £82,185, but the profit tion being equal to T per cent. The carry- 

 balance fell from £43,969 to £35,279, owing forward will be £22,485, subject to ex- 

 to the large increase in the working ex- cess profits duty, against £21,906. A sum 

 penses. The addition to the general re- of £5,774 has been expended in repairing 

 serve is to be raised from £10,000 to £15,- cables, which are now working again. 



