THEGUBAREVIEW 25 



The movable property of the Stage Lines was sold in July, 1919, on advantageous 

 terms to responsible parties who also took a lease of your Sau Francisco stable at a 

 good rental for eight years. The amount realized from the sale Avas at once in- 

 vested in passenger motor buses. 



The average increase in the output of the Consolidated Power Plant has been 

 10 per cent, per year since operation began in 1914 and the purchase of a 2.j,(XlO K.W. 

 turbine generator unit is now under consideration. When your plant was built a' 

 very large reserve boiler capacity was installed, which will be ample for the new 

 ^reuerating unit. Eight of these boilers are now lieing fitted with furnaces suitable 

 for Mexican crude oil and concrete tanks of 500,000 gallons capacity are being con- 

 structed in the yard of the power plant. After a thorough trial and results being 

 satisfactory, both as to economy in fuel and reliability and ease of operation, the 

 equipment will be extended to a large proportion of the boiler plant. 



The statistics show the following increase as compared with lOlS : 



In electrical output, K.W 23.3% 



In gas manufactured, cu. ft 17.7% 



In numl)er of passengers carried 10.7% 



In passenger earnings per car mile ■. 0.08% 



The Employees' Mutual Benefit Society has continued sound and prosperous and 

 at the end of 1919 had 1,500 members, or 45 more than on Decem))er 31, 1918. The 

 sum of $21,998.00 has been expended in assistance to members and the object to 

 protect them against loan sharks by advances at a low rate of interest has not been 

 lost sight of. 



The accounts of your company are audited monthly liy ^Messrs. Deloitte, Plender, 

 (Jrifliths & Co.^ and accompanying this report will l)e fcjund the Balance Sheet and 

 Profit and Loss Account as of December 31, 1919. 



For the Board of Directors, 



Frank Steiis'haet, President. 

 Havana, Cuba, March 31, 1920. 



BALANCE SHEET— DECEMBER 31, 1919 



ASSETS 



Propeetiks, Plant and Equipment, as per Deceml)er 31, 



1918, Report .?.56,732,303.84 



New Additions during Year -352,322.22 .$57,084,626.06 



Lnvestments (At Cost) . 450,632 88 



Current Assets : 



Cash in Banks and on Hand .$1,175,020.00 



Accounts Receivable after providing for Bad and 



Doubtful Debts 1,469,550.17 



Materials, Merchandise and Supplies on Hand 1,603,877.51 



Materials in Transit 167,959.69 4.416,407.37 



Deferred Assets : 

 Insurance paid in Advance, Deferred Charges, etc 37,829.44 



$61,989,495.75 

 LIABILITIES 

 Capital Stock : 

 Authorized and Issued: 

 Common : 



150,000 Shares, par value $100.00 each, fully paid 



and non-assessable $15,000,000.00 



I/ess : Held in Treasury : 



515.94 Shares, par value $100.00 each 51,594.00 $14,948,406.00 



