26 THBCUBAREVIBW 



GUANTANAMO & WESTERN RAILROAD COMPANY 



ANNUAL REPORT AND GENERAL BALANCE SHEET 



1919 

 44 Whitt'lmll Slrt'ct. X<nv York, NovimhImt 2(>, 1!H!». 

 To the Stochhohhrfi : 



Tlie followiiij; rciMii-t on oihtmIIoiis of your ('ompaiiy for tisc-il y(';ir ended .lune :!o, 

 1019. with Income Account and (Jeneral Unliince Slieet iinnexed, is respect lully suli- 

 niitted. 



Additions to Capital Account aniounfed to $J7ri,s29.1s net. of wliicli .$149,ln(».ls 

 were for account of Road and ij!12(>,729.CR) for account of K(iuii»nieut. Capital Kxpeii- 

 diluros aj-'gregated S:',i:'.,r)07.94, as compared with $ir.9,44:'..(n in 191,S and $:!L>ri.4r)7.(K> in 

 1917. Of this amount $ir)8,14(i.O.", was for rollinj,' stock, $121,()SS.r.2 for road Ix'tter- 

 nients and extensions, and $34,273..S9 for improvements not completed. 



Railway operatinj? revenues were $1,001,292.31, as compared witli .$74s,()r4.0S in 

 1918; and operatinj; expen.ses $80"), 789.49 as compared witli $7(n,842.()4 in 1918. The 

 operating profit of $19,".,502.S2 comi)nres with a deficit of $12.(>77.9() in 191S. 



Of the increased revenue of $2r)2,(i2S.2"; over the previous year, $lS8.si'.t.9.') was 

 from freight, $.j5,(j5(j.r>2 from passengers and $8,1.")1.7<5 from mail, express, etc. 



Of the increase over the previi>us year of $44,447. 4r> in op;-rating expenses, .S21.- 

 465.03 was in the cost of maintenance, $20,958.55 in cost of conducting tiiinsportation. 

 and $2,023.87 in miscellaneous and general expenses. 



The territory served by your road is prosperous and its development steadily con- 

 tinues. There wore (>74,83S hags of sugar trans])orted during 19is-l'.il'.i rrn\> season, as 

 comi«ared with 541, is2 in 1917-1918 and 443.822 hags in 1910-1917. 



Your property is in good condition and heing improved constantly. Since June ."'vO, 

 1919, in addition to the betterments of the past fiscal year as above reportt'd, the rolling 

 .stock has been increased by twenty-six all-steel cane cars and one large Haldwin super- 

 heater oil-burning locomotive. All other locomotives are now being changed from coal 

 to oil burners, a complete fuel oil plant is under construction at the Botiueron port ter- 

 nuiial, and fifteen all-steel tank cars are being provided for supplying the road and its 

 territory with fuel oil. Several new station buildings are under construction, the shoi)s 

 are being enlarged and supplied with additional maclunery. a lighting system is Ix'ing 

 installed for the Bo(iueron docks and wan-houses, and the work of replacing <!() with 80 

 pound rails, new ballasting, track drainage and cut-widening is being pushed as rapid- 

 ly as labor and weather conditions permit. 



By authf>rity of the Board of Directors. 



yi. 11. r.EWlS, J'nsident. 



INCOME ACCOT'NT 

 FoK THE Y'eak 1'.M)I.\(; .Ii xe 3u. r.tl'.t 

 RAIIAVAY OPKRATIX*; KKVEXT'ES : 

 TRAXSPoinATiox : 



Freight .'i;0!Hi,272.99 



Passenger 270,:'>(;s..",4 



Excess Bagtrage 1,107.^1 



:Nraii i3,(;i;7.s2 



Express ll,2:;r,.21 



Special Trair.s l,349.o8 



Station and Train Privileges 1.975.(M) 



Storage 1,205.73 



Demiu-rage 633.99 



Miscellaneous 3,415.31 



$1,001,292.31 



