T H i£ L L" U .\ 1< E \' I E W 



RAILROAD AND COMMERCIAL NEWS 



AMALGAMATION PERFECTED 



At a meeting in London, November 22d, 

 of the United Railwajs of Havana and 

 Regla Warehouses, Limited, resolutions 

 necessary to carry out the agreement under 

 which the United absorbs the Western 

 Railway of Havana, Limited, were adopted. 

 The Western Railway also gave assent to 

 the plan. Particidars regarding the terms 

 of the transfer were printed in the No- 

 vember issue of The Cuba Review. 



From the report of the directors to the 

 shareholders of the Western Railway of 

 Havana, for the year ended June 30, 1911, 

 the following figures, showing the results 

 of the working of the railway for the 

 period named as compared with the pre- 

 vious year, are taken. 



1910-] I 1909-10 



Gross receipts £259,151 £248,264 



Working expenses . . . 140,810 143,872 



Net receipts ill8,.341 £104,392 



To this balance must be added. . . . £118,340 

 Brought forward from June 30, '10 10,797 



Transfer fees, etc 60 



Difference in exchange, etc 1,398 



Net revenue Hacendados Ware- 

 houses and other properties.. 2,783 



Total £15,038 



Grand Total £133,378 



Deductions — 



Taxes, etc £5,189 



Interest on Debenture Stock 24,750 



Interim Dividend 33,000 



Total £62,9 39 



Leaving a disposable balance of . . . £70,441 



Out of this available balance on net 



revenue account of £70,441, the board pro- 



poses to pay a l)alance dividend of 8s. per 

 share (subject to income tax), making, 

 with the interim dividend paid in April, 

 7 per cent for the year on the share capitai 

 of the company, to transfer £10,000 to the 

 general reserve fund, and to carry forward 

 £16,441. 



The traffic statement for 1910 shows 

 562,725 passengers carried as against 

 571,145 in 1911. 



The freight traffic included 11,878 tons 

 of tobacco in 1910 and 12.090 tons in 1911 

 The road carried 10,835 tons of sugar in 

 1910 compared with 8,325 tons in 1911 The 

 decrease is due to the shortage in the 

 crop. Fruit and vegetables w^ere carried 

 to the extent of 31,344 tons in 1910 as 

 agamst 25,399 tuns in 1911. The decrease 

 bemg due to phenomenal storms that 

 swept the western end of the island The 

 figures for all freight showed 361,219 tons 

 m 1910 and 416,058 tons in 1911. 



The company has new shops in full 

 operation equipped with modern machinery 

 and apohances, which are naturallv produc- 

 ing considerable economy in the cost of 

 repairs and contributed toward reduction 

 in working expenses. Despite adverse 

 conditions in the first half of the year, the 

 gross receipts show an increase of £10,887 

 over 1910. 



Passenger earnings for the year 1911 

 likewise showed an increase over 1910 of 

 £7,649. 



The company has paid a 6 per cent divi- 

 dend for the years 1902, 1903 and 1904, and 

 7 per cent since. 



The change in ownership is only another 

 step toward the unification of all the Cuban 

 railroads under one head. The entire 



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WESTERN RAILWAY OF HAVANA, Lta 





a u L F. O 1 ^ 





Uroa 



^-..., B 15 JL^^^^^o^ 



Map showing thf lerritorv covered by the W'c^tcni Kailu^y ab=,uiL.ed by the United RaiK 



of Havana a few weeks ago 



