T H E C U B A R E V I E W 19 



GUANTANAMO AND WESTERN RAILROAD COMPANY 



ANNUAL REPORT AND GENERAL BALANCE SHEET— 1917 



New York, October 25, 1917. 



Capital expenditures for completed betterments and extensions amounted to $367,129.36, 

 of which $55,851.16 was for the branch line to RomeUe and San Antonio, $11,623.32 for sidings 

 and spurs, and $166,499.38 for roUin? stock; and for bettermants not completed on June 30 

 there had been expended to that date $49,025.38, making the total capital expanditures for 

 the year $416,154.74, as compared with $285,376.58 the previous year and $83,454.37 in 1915. 



Of the new rolUng stock, three locomotives and thrty-five box, twonty-five can3 and ten 

 fiat cars, all steel, costing $176,568.68, were acquired under an equipment trust and against 

 which were sold $140,000 Car Trust Bonds, Series 4. 



Gross operating earnings were $555,949.57, as against $597,731.62 in L916 and $485,097.36 

 in 1915. Net operating earnings were $29,729.47, as compared with $120,458.34 in 1916 and 

 $109,681.07 in 1915. 



It was expected that the year would show gross earnings of approximately $700,000, and 

 net operating earnings in excess of $200,000, but the revolution, which began in February and 

 ended in May, caused a very substantial loss of revenue and added materially to the operating 

 expenses. Throughout that period, in the midst of the sugar season and the busiest part of the 

 year, business generally was demoralized; the sugar mills were frequently shut down and their 

 output curtailed about 25% ; traffic was seriously hampered and at times practically suspended. 

 No trains were run over the upper portion of the Une connecting with the Cuba Railroad, 

 causing the total loss for the time being of all through traffic. Higher cost for labor, coal and 

 all materials also increased transportation and maintenance expenses. 



The Cuban Government has agreed to pay for property destroyed, and has advanced 

 $120,000 as against property losses of approximately $125,000, mostly for bridges destroyed. 

 One passenger coach and one cane car were destroyed. 



Everything is now quiet in the Island, and the United States Government is not Ukely to 

 permit any interference with the coming sugar crop. A new 100,000-bag sugar mill is being 

 erected at Macuriges, one of the stations on this railroad, and which the owners estimate will 

 produce 80,000 bags this year. Another one of 250,000 bags capacity is to be erected at Saba- 

 nilla as soon as the machinery can be procured. 



The Cuban railroads have appealed to that Government for authority to increase the 

 rates on all traffic, and it is hoped and believed this needed assistance will soon be granted. 



INCOME ACCOUNT FOR THE FISCAL YEAR ENDED JUNE 30. 1917 



IIAILW.\Y OPERATING REVENUES: 



Transportation: 



Freight . $360,171. U 



Passenger 170,84.S.14 



Excess baggage I,o30.23 



Mail 4,3tJ7.76 



Express 12,735.86 



Special train service 1^9"9'^ 



Motor car service 708.52 



■Station and train privileges 1,050.00 



Storage 201.05 



Demurrage 3,880.87 



Total revenue from railway operations $555,949. 57 



RAILWAY OPERATING EXPENSES: 



Maintenance of way and structures $146,968.41 



^.aintenance of equipment, including S27,291.52 depreciation charges 128,301.11 



Conducting transportation 191,834.41 



Genera! e.\pense 59,116.17 



Total railway operating expense 526,220.10 



Net revenue from railway operations $29,729.47 



RAILWAY TAX ACCRUALS: 



Cuban $2,133.96 



American 1,677.31 3,811.27 



Railway operating income $25,918.20 



