26 



THE CUBA REVIEW 



Appropriated as follows: — • 



Dividends Nos. 114, 115, 116 and 117, at 12 per cent per annum $1,417,207.02 



Transferred to Officers Pension Fund 100,000.00 



Written off Bank Premises Account 2.50,000.00 



War Tax on Bank Note Circulation 118,226.51 



•Contribution to Patriotic Fund 50,000.00 



Balance of Profit and Loss carried forward 852,346.28 



GENERAL STATEMENT, NOVExMBER 30, 1910. 



$2,787,779.81 



Liabilities 

 To the Public: 



Deposits not bearing interest 



Deposits bearing int., including int- 

 _ erest accrued to date of statement. 



'^ 



- Total deposits ._ 



Not? a of the bank in circulation. . . . 

 Bal. due to other banks in Canada. . 

 Balanc"S due to banks and banking 

 correspondentsin the United King- 

 dom and foreign countrif s 



Bills payable 



Acceptances under letters of credit. . 



To the Shareholders: 



Capital stock paid in 



Reserve fund 



Balance of profits carried forward . . . 



Dividend No. 117 (at 12% per an- 

 num), payable Dec. 1, 1916 



Dividends unclaimed 



$53,365,396.12 



140,862,199.46 



$200,227,595.58 



18,178,228.49 



1,464,467.85 



6,683,108.63 

 478,392.16 

 452,677.26 



$227,484,469.97 



$12,000,000.00 



12,560,000.00 



852,346.28 



359,840.71 

 4,770.25 



$253,261,427.21 



Assets 



Current coin 



Dominion notes 



Deposit in the Central gold reserves. 



Deposit with the minister for the pro- 

 poses of the circulation fund 



Note.? of othsr banks 



Cheques on other banks 



Balances due by other banks in Can. . 



Balances due by banks and banking 

 correspondents elsewhere than in 



Canada 



Dominion and Provincial Govern- 

 ment securities, not exceeding mar- 

 ket value 



Canadian Municipal securities and 

 British, Foreign and Colonial Pub- 

 lic securities other than Canadian, 

 not exceeding market value 



Railway and other bonds, debentures 

 and stocks, not exceeding market 

 value 



Call loans in Canada, on bonds, de- 

 bentures and stocks 



Call and short (not exceeding thirty 

 days) loans elsewhere than in 

 Canada 



Other current loans and discounts in 

 Canada (less rebate of interest) .... 



Other current loans and discounts 

 elsewhere than in Canada (less re- 

 bate of interest) 



Overdue debts (estimated loss pro- 

 vided for) 



Real estate other than bank premises. 



Bank premises, at not more than cost, 

 less amounts written off 



Liabilities of customers under letters 

 of credit, as per contra 



Other assets not included in the fore- 

 going 



$16,072,763.38 

 14,249,110.25 

 6,500,000.00 



595,340.00 



3,857,573.80 



11,805,508.55 



1,199.79 



5,092,067.54 

 1,029,374.10 



14,012,089.69 



15,464,604.22 

 11,076,005.90 



21,372,026.45 

 $121,127,663.67 



86,936,631.39 



37,928,027.25 



466,640.93 

 1,095,473.24 



5,138,398.14 



452,677.26 



115,915.33 



$253,261,427.21 



CUBA 



The sugar crop for 1915-16 amounted to 3,005,000 long tons, against 2,575,000 for 1914-15. 

 It is estimated that producers obtained an average price of $4 per 100 lbs., f .o.b. Cuba — about 

 double the average price for several years prior to the war. Experts estimate the probable 

 1916-17 crop at 3,500,000 tons, almost 1,000,000 tons more than the crop of two years ago. 

 Sixteen new mills were erected during the past year, making 201 to grind during the present 

 •season. On account of unseasonable weather, the mills are considerably later than usual in 

 starting to grind, and the cane is giving unfavorable returns as compared with last year. 

 These facts, together with a scarcity of labor and transportation difficulties, may result in a 

 lower production than estimated. Sugar freights during the last crop averaged 30c. to 60c. per 

 100 lbs., and present indications are that they will be higher during the coming season. There 

 is more or less imcertainty regarding prices, but the outlook is nevertheless very favorable. An 

 incident worthy of mention in the sugar trade during the year was the formation of the Cuba 

 Cane Sugar Corporation, which acquired seventeen mills with an anticipated output of 550,000 

 tons during the present crop. 



The production of tobacco was somewhat under that of the preceding year, and less than 

 half a normal crop. Prices have risen steadily, and the value of the past crop is estimated at 

 something over $30,000 000, as compared with about .$20,000,000 in 1915. On the whole, con- 

 ditions for the coming crop are favorable to an increased yield of good quality. 



The cattle industry has been very profitable on account of the greater demand for working 

 cattle, together with high prices for beef and hides. These factors have led to a depletion of the 

 breeding stock, which may affect the industry seriously if not arrested. 



