THE CUBA REVIEW 



23 



THE GUANTANAMO AND WESTERN RAILROAD 



ANNUAL REPORT OF OPERATIONS EARNINGS, EXPENSES AND INCOME 



FOR THE FISCAL YEAR 1912-13 



The report on the operations of The Guantanamo & Western Railroad Company for 

 the hscal year ended June 30, 1913, with statement of earnings and the treasurer's general 

 balance sheet, was issued on September 26th. 



Capital expenditures during' the year, for other than rolHng stock, amounted to 

 ?79,S7S.59, prmcipally for new station buildings, section houses, coal deposits water 

 tanks and sidings at San Justo. 



There have been no extensions of the main line during the year, the mileage in opera- 

 tion bemg 75, although some extensions of switches and sideings were made, some new 

 ballasting done and considerable drainage work completed. 



One new locomotive and some rolling stock were acquired at a cost of $33,100 of 

 which $25,000 was paid with car trust bonds. 



The steel bridges were cleaned and painted and the timbers in wooden bridges and of 

 ties over the entire line renewed with best quality of native hardwoods. These renewals 

 increased materially the cost for maintenance of way and structures, which was nearly 

 $25,000 more than the previous year. 



A succession of unusually heavy rains during the months of October, November and 

 December seriously interfered with traffic, caused large expenses for repairs and replace- 

 ments and delayed for a month the grinding season of the sugar mills. 



For the total sugar season 351,178 bags were carried as against 326,632 in 1912 and 

 261,107 in 1911. 



A table of revenue and expenses follows: 



1913 1912 1911 



Total revenue from transportation $440,774.14 $382,342.16 $323,107.74 



Maintenance, transportation and general expenses... 377,874.43 328,269.12 291,907.16 



Xet transportation earnings $62,899.71 $54,073.04 $31,200.58 



The report states that the condition of the property is good and being continually im- 

 proved. Some additions to freight equipment will be required for the current year. Ex- 

 tensive renewals of culverts, bridges and ties will be continued, and additional facilities 

 are being provided for more economically handling a steadily increasing traffic. 



The general balance sheet of June 30, 1913. follows : 



.■\SSETS 



Road and ccpiipment $6,728,378.97 



Deferred charges 11,254.71) 



Material and supplies, per inventory 78,260.60 



Cash and cash items 37,258.17 



Bills receivable 17,400.00 



Accounts receivable 73,037.88 



Income account 33,000.75 



$6,978,591.13 

 r.i.AniMTiES 



Capital stock — Preferred 1st $2,750,000.00 



Capital Stock — Preferred 2nd 250,000.00 



Capital Stock — Common 2,750,000.00 $.",750,()()().(i() 



First mortgage bonds 6 per cent 600, 000. oo 



Car trust bonds 6 per cent. Series 1 $160,000.00* 



Car trust bonrls 6 per cent. Series 2 25,000.00 lS,-,,0()0.0() 



Two-year redeemable notes .'iOO.OOO.OO 



Bills payable S9,] 19.00 



Interest accrnerl on fundcrl and tloating debt 11,158.87 



Employees hos[)ital fund 3,882.44 



Mail service for Cuban government 17,181.36 



-Accounts jtayable 22,249.46 



♦$25,000 paid in July, I9i:;. $6,978,501.13 



