28 THE CUBA RE VIE W 



Deduct : 



Provision for Depreciation of Mills and Equipment and for 



Replanting of Cane 260,641.29 



$801,872.17 

 Deduct : 



Provision for Taxes and Contingencies — estimate 261,000.00 



Profit for the Year $540,872.17 



BALANCE SHEET— JUNE 30TH, 1918 



ASSETS 



Capital Assets : 



Cost of Road, Land, Buildings, Rolling Stock, Equipment, etc $2,065,266.02 



Working Assets : 



Fuel $25,879.78 



Materials and Supplies 33,560.80 



Insurance Unexpired 4,394.87 



63,835.45 



Current Assets : 



Accounts Receivable, including Claims, Cash, etc 150,327.44 



$2,279,428.91 



LIABILITIES 

 Capital Stock : 



Authorized— 10,000 shares of $100 each $1,000,000.00 



Less 11 shares unissued 1,100.00 



9,989 shares outstanding $998,900.00 



Loan Guantanamo Sugar Company 788,198.23 



Current Liabilities : 



Loan — Repayable in services $93,300.00 



Audited Vouchers unpaid 24,172.89 



Miscellaneous Accounts payable 3,179.70 



120,652.59 



Reserves : 



For Maintenance of Ways and Structures $27,468.80 



For Maintenance of Equipment 67,939.31 



For Depreciation 52,854.72 



Miscellaneous 22,639.33 



170,902.16 



Surplus : 



Balance at June 30th, 1917 $177,544.02 



Add: 



Profit for the Year ending June 30th, 191S 23,231.91 



200,775.93 



$2,279,428.91 



CUBA RAILROAD COMPANY road, in a circular to the bankers, stated 



„, „ T ,.. , „., ~ . x , that the company operates 658 miles of 



The National City Company, of New .. .. . ,. . 



„ , , , «. . standard gauge railway, the main line of 



York, announced on June 3rd an offering ,.,».,_ j. *.. * «,,» 



.J«A«w n r. ^ -i j i-i « 4. which forms the eastern portion of the 



of $1,150,000 Cuba Railroad Company first 



. , , . , , through route traversing the Island of 



mortgage 5 per cent, bonds at SS, to yield ° rT ° . 



*™ 1 mx,- u-4. * « • • 4-1, Cuba from Havana to Santiago. During 



5.80 per cent. This bit of financing is the OA 1ft1Q .. m „ 



„ L * , . n . , . the ten years to June 30, 1918. the com- 



first attempted in the American market n . 



,..,,.., i panv s gross income averaged approxl- 



bv a foreign railroad since the war, and /, , ,, . . ., 



' ^ . ... . , , matelv two and three-quarters times the 



for this reason its success is regarded „ , . . ,, _ . 



,...., fixed charges, and interest on the first 



with more than usual interest in invest- f cmo -i-n nnn ,•» 



. , mortgage bonds, of which $13,1(0,000 is 



ment circles 



outstanding, was earned more than three 



George II. Whigham, president of the times. 



