THE CUBA REVIE W 



15 



CUBAN FINANCIAL MATTERS 



NATIONAL BANK REPORT 



The annual report of the Banco Xacional 

 de Cuba (Xational Bank of Cuba) for the 

 year ending June 30, 1913, is as follows. 

 The values are in United States currency. 



Cash $6,337,525.23 



Due from Banks 



and Bankers.. 3,971,092.24 

 Remittances in 



Transit 1,764,560.17 



$12,073,177.64 



Bonds and Stocks — 



Gov't Bonds. .$2,627,278.03 

 City of Ha- 

 vana Bonds. 747,269.42 

 Other Bonds. 615,059.31 

 Stocks 97,966.84 



4,087,573.60 



Loans, Disc'ts, Time Bills, etc. 18,461,975.29 



Bank Buildings 1,170,621.86 



Furniture and Fixtures 89,183.57 



Sundry Accounts 198,949.19 



Securities on Deposit 3,292,147.33 



Total $39,373,628.48 



LIABILITIES 



Capital $5,000,000.00 



Surplus 1,200,000.00 



*Undiv. Profits. 336,530.60 $6,5.30,530.60 



Deposits 2.-3,433,933.79 



Due to Banks and Bankers... 4,111,016.76 

 Deposits (Securities ) 3,292,147.33 



Total $39,373,628.43 



♦Deduct $200,000.00 four per cent semi- 

 annual dividend, payable July 1, 1913. 



CUBA S FIVE PER CENT BONDS 



Republic of Cuba 5 per cent gold bonds 

 of 1904, aggregating $1,020,000, recently 

 drawn for redemption on September 1, 

 1913, will be paid at the office of Speyer & 

 Co. in New York on and after that date. 

 This is the third annual drawing of bonds 

 of this issue and makes a total of $3,060,000 

 called for redemption of an original issue 

 of $35,000,000. 



At the offices of J. P. Morgan & Co. the 

 Havana report that the firm had pur- 

 chased an additional $1,000,000 of Cuban 

 six per cent notes was corroborated. These 

 notes were issued, according to Havana, 

 pending completion of negotiations for a 

 long term loan of $15,000,000 or $20,000,000. 

 Of that Messrs. Morgan & Co. know noth- 

 ing. Some time ago the house purchased 

 $1,500,000 of six per cent notes from the 

 Cuban government, having an average ma- 

 turity of about eighteen months. 



On July 23rd the Secretary of the Treas- 

 ury of the Cuban government stated to Mr. 

 Frank Stemhardt, who is the representa- 

 tive in Cuba of Speyer & Company, that 

 reports published that J. P. Morgan & Co. 

 were to take care of the Cuban finances 

 and were to float a $15,000,000 loan, were 

 without foundation. 



According to a recent statement of Presi- 

 dent Menocal if the finances of Cuba make 

 another loan necessary it will not be sought 

 abroad until local capitalists have had an 

 opportunity to subscribe to it. 



The president also declared that he was 

 opposed to increasing the standing debt of 

 the country to any larger figures than it 

 is at the present time. He said that he be- 

 lieved that Cuba could get along, paying her 

 debts and meeting the running expenses. 



July Prices for Cuban Securities 



CJuoted by Lawrence Turnure & Co., New York) 



Bid Asked 



Republic of Cuba 5 per cent Bonds (Interior) 95 96^/4 



Republic of Cuba 5 per cent I>onds ( Exterior) 99% 100% 



Havana City First Mortgage 6 per cent Bonds 103 108 



Havana City Second Mortgage 6 per cent Bonds 101 106 



Cuba R. R. First Mortgage 5 per cent Bonds 98 100 



Cuba R. R. Preferred Stock 98 100 



Cuba Co. 6 per cent Debentures 95 100 



Havana Electric Ry. Consol. Mtge. 5 per cent Bonds 94 95 



Havana Electric Ry., Liglit & Power Co. Preferred Stock 90 94 



Havana Electric Ry., Light & Power Co. Common Stock 80 84 



Matanzas Market Place 8 per cent Bond Participation Certificates 100 104 



Cuban American S. Co. CrAl Trust per cent Gold Bonds of 1918 94 95 



Santiago Electric Light & Traction (Jo. First Mortgage 6 per cent Bonds 98 Vi 98 M> 

 All prices of bondi quoted on an "and interest" basis 



