24 



THE CUBA REVIEW 



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



Month of March: 1919 1918 1917 1916 1915 



Gross earnings $657,255 $642,110 $545,397 $470,616 $472,185 



Operating expenses 325,203 306,190 237,386 196,706 195,880 



Net earnings 332,052 335,920 308,011 273,910 276,305 



Miscellaneous income 5,789 16,603 21,295 19,200 7,906 



Total net income $337,841 352,523 329,306 293,110 284,211 



Surplus after deducting fixed charges.. 177,740 191,277 163,849 162,601 175,606 



j Months to March 31st: 



Gross earnings $2,086,769 1,904,191 1,597,210 1,452,233 1,390,314 



Operating expenses 1,055,668 867,824 678,202 560,757 561,299 



Net earnings 1,031,101 1,036,367 919,008 891,476 829,015 



Miscellaneous income 20,299 35,557 35,751 33,497 23,369 



Total net income $1,051,400 1,071,924 954,759 924,973 852,834 



Surplus after deducting fixed charges 594,444 588,187 467,297 559,996 526,601 



CUBAN FINANCIAL MATTERS 



THE PREVAILING PRICES FOR CUBAN SECURITIES 



A<s quoted- by Lawrence Turnure & Co., New York. 



Bid 



Republic of Cuba Interior Loan 5% Bonds 86 



Republic of Cuba Exterior Loan 5% Bonds of 1944 97 



Republic of Cuba Exterior Loan 5% Bonds of 1949 92 



Republic of Cuba Exterior Loan 4y 2 % Bonds of 194!' 83 



Havana City First Mortgage 6% Bonds 100 



Havana City Second Mortgage 6% Bonds 100 



Cuba Railroad Preferred Stock 78 



Cuba Railroad Co. First Mortgage 5% Bonds of 1952 86 



Cuba Company 6% Debenture Bonds 85 



Cuba Co. 7% Cumulative Preferred Stock SG 



Havana Electric Rway., Ligbt & Power Co. Preferred Stuck 



Havana Electric Rway Co. Consolidated Mortgage 5% Bonds 8G 



Havana Electric Rway., Ligbt & Power Co. Common Stock 



Matanzas Market Place 8% Bond Participation Certificates 100 



Cuban-American Sugar Co. Preferred Stock 104 



Cuban-American Sugar Co. Common Stock 195 



Guantanamo Sugar Company Stock $59 



Santiago Electric Ligbt & Traction Co. 1st Mtge. 6% Bonds 81% 



Asked 



89 



99 



94 



85 

 104 

 104 



82 



88 



95 

 100 



89 



none 



107 



200 



$61 



83% 



NATIONAL CITY BANK 



Two new branches of the National City 

 Bank have been opened in Cuba during 

 the past month, to wit, at Guantanamo 

 and Manzanillo, and another branch in 

 the city of Havana will be opened in a 

 few days. The latter will make seven 

 branches opened on the island since Jan- 

 uary 1st last with a total of ten in the 

 island. 



CUBAN PORTLAND CEMENT CORP. 



The annual report of the Cuban Port- 

 land Cement Corporation for the year 1918 

 shows that there were manufactured 152,- 

 959 barrels of cement in the period, and 

 that 137,412 barrels were sold. Gross re- 

 ceipts were $516,577 ; manufacturing cost 

 $283,096; selling and administrative ex- 

 pense $141,869, and net profit $95,685, in- 

 cluding $4,074 other income. Charges 

 against income totalled $127,507, leaving 

 a net loss for the period of $31,822. 



