THE CUBA REVIEW 



23 



REPORTS OF FINANCIAL INSTITUTIONS 



NATIONAL BANK REPORT 



The annual statement of the Banco Na- 

 cional de Cuba (National Bank of Cuba) 

 to December 30, 1911, is as follows: 



ASSETS 



Cash ill vaults $6,045,338.03 



Due from banks and 



bankers 3,243,746.10 



Remittances in transit 1,293,785.50 $10,582,869.63 

 Bonds and stocks — 



Government bonds....$2, 540, 866.67 

 City of Havana bonds 758,610.59 



Other bonds 361,220.52 



Stocks 148,838.67 3,809,536.45 



Loans, disc, time bills, 



etc 17,717,735.48 



Bank buildings and real 



estate 1,093,260.92 



Furniture and fixtures 89,416.15 



Sundry accounts 14,979.16 



Securities on deposit.... 3,043,721.45 



Total $36,351,519.24 



LIABILITIES 



Capital $5,000,000.00 



Surplus 1,100,000.00 



*Undivided profits .... 306,255.13 

 Due to banks and 



bankers 



Deposits 



Deposits — securities . ... 



Total 



*Deduct $200,000.00 four per cent semi-annual 

 dividend, payable January 2, 1912. 



THE TRUST COMPANY OF CUBA 



The statement of this company at the 

 close of business on December 30, 1911, is 

 as follows : 



ASSETS 



Cash $490,081.52 



Demand loans 403,844.27 



Bonds and shares 235,542.54 



Overdrafts (secured).... 4,710.39 



Liquid assets 



Mortgage loans 



Notes discounted 



Real estate 



Bank premises 



Bank furniture & fixtures 

 Trust Department — 



Due from banks 



Bonds and shares 



Loans and investments 



$6,406,255.13 



3,378.246.15 



23,523,296,51 



3,043,721.45 



$36,351,519.24 



LIABILITIES 



Capital 



Reserve 



Undivided profits 



Dividend No. 10 



L'npaid dividends 



Deposits — 



Demand $1,448,773.41 



Time 103,442.40 



Trust 2,570,520.86 



Treasurer's checks 



(outstanding) 17,910.00 



Trust Department 



$1,134,178.72 



169,266.62 



306.688.00 



30,914,22 



49,707.43 



2,000.00 



2,466,886.02 



103,634.84 



92.220.00 



$4,855,495.85 



$500,000.00 



105,000.00 



1,780.18 



15.000.00 



849.00 



4,140,646.67 



92,220.00 



$4,855,495.85 



Cuba's Permanent Army 



"One of the worst acts of the Alagoon 

 regime, which was warned against and 

 strenuously opposed by many of the best 

 men on the island, was the formation of 

 the so-called 'Ejercito Permanente' (per- 

 manent anny) at the behest of a strolling 

 class of bushwhackers like Don Qui.xote, 

 always looking for trouble. 



"This army is at once a heavy burden 

 and a grave danger for the republic, as was 

 recently illustrated by the division of the 

 force into factions and the attendance, in 

 defiance of the orders of the executive, of 

 the officers at political meetings. 



"Putting uniforms on to an armed and 

 undisciplined crowd, whose principal occu- 

 pation is to kill time, is to invite danger 

 and menace society — in the words of a 

 Spanish adage, it is 'to raise crows to pick 

 one's eyes out.' 



"It demoralizes the Rural Guard, which 

 is an excellent body for service in the 

 interior, whereas, the army is of no use 

 there, and in case of an attack from a 

 foreign foe, the army and navy of the 

 United States would defend the country — 

 in a word, it is an unnecessary and heavy 

 burden upon the community. There are 

 already serious dissensions and jealousy 

 among the various factions of the Liberal 

 Party, "Miguelistas," "Zayistas." etc.. and 



it is extremely probable that, sooner or 

 later, quite likely on the eve or after the 

 coming election, the intransigeant spirit 

 that cannot brook disappointment in politics 

 will reassert itself. 



"The American government, if it would 

 forestall such an event, should appoint 

 American inspectors of the elections, whose 

 decisions should be final and binding upon 

 all parties ; otherwise the chances are that 

 it will again be 'obliged' to squelch another 

 'manifestation of patriotism.' " — Corre- 

 spondence of the Nczvark (N. J.) Xezcs. 



Fully completed, the Cuban cruiser 

 "Cuba" and the training ship "Patria" sailed 

 from Cramp's Ship Yard, Philadelphia. 

 May 15th, for Cuba. All the way down the 

 Delaware River the warships were given a 

 noisy farewell by steamships, tugs and 

 other craft. 



Electric light plants are projected for 

 Calabazar Mata and Quemados de Gumes 

 in Santa Clara Province to supply public 

 and private demand for electric lighting. 



The steel bridge over the Sagua River at 

 Sagua la Grande requires expert inspection, 

 serious defects having been discovered. 



The United States exported last year to 

 Cuba $364,030 worth of sewing machines. 



