THECUBAREVIEW 13 



to forty-five days, an opportunity would be afforded for the clearing up of the present 

 congested condition of affairs, and with the present suspension of payment by banks 

 until December 1st under the moratorium declared by the Cuban Government, it is 

 not at all improbable. 



NEW CUBAN GOVERNMENT TAX LAW' In our letter of September we made men- 

 tion of the new Cuban Government Tax Law that was to become effective January 1st, 

 1921. In that letter we mentioned that the four per cent, tax would apply on the 

 gross earnings of American companies doing business in Cuba, but we have just 

 learned that this Avas in error and that the tax is to apply on net earnings instead. 

 For the information of our readers, we give below an exact translation of this part 

 of the law as published by the office of the Secretary of the Treasury : 



"A tax of four per cent, will be assessed on the earnings of every association, 

 establishment or mercantile business which operates in the territory of the Republic 

 and in cases where such association, etc., has its home or principal office in a foreign 

 country, this tax will be assessed on the business operations which they effect in 

 Cuba in cases where the capital exceeds $10,000 according to their accounts inscribed 

 in the Mercantile Register or where this is indicated by the amotmt of capital dis- 

 tributed, and also in those cases where for lack of other proof the outward activities 

 of such concern would indicate that its capital exceeds $2,000." 



"The changes which exist between this new law and that of July 31, 191T, will 

 become effective on July 1st next in so far as same refers to the use of revenue stamps ; 

 on November 1st, 1920, as regards the tax on sugars, up to which time the present 

 tax on sugar and molasses will remain in effect ; at the beginning of the next social 

 or economic year of the business undertaking in so far as the changes affect the 

 exploitation of the tobacco industry ; on July 1st of next year as regards mercantile; 

 societies in general ; and from January 1st, 1921, with regard to commerce and industry 

 in general and those engaged therein." 



NEW YORK NATIONAL BASEBALL CLUB ARRIVES IN HAVANA FOR SERIES: 

 Thirteen members of the New York National Baseball Club arrived in Havana October 

 15th and many of them brought their wives for this visit to the Metropolis of the 

 Tropics. The "Giants" will play a series of games with the two very strong Cuban 

 baseball teams, the "Almendares" and the "Habana." The world famous "Babe" 

 Ruth, home run batsman of the "Giants," did not accompany the team to Havana but 

 will follow in a few days. Much interest has been expressed in the forthcoming series 

 and all indications point to large attendances at the games. 



NEW YORK-CUBA AIR SERVICE TO START SATURDAY, OCTOBER 23rD: 

 Aerial passenger service between New York and Havana will be inaugurated October 

 23rd with the departure from New York of two of a large fleet of aeroplanes for 

 Havanti. This service has been inaugurated for the carrying of passengers between 

 the Air.erican metropolis and Cuba and is in addition to the American-Cuban Air 

 Service that has made contracts with the Cuban and American Governments to carry 

 the mails between these countries. Tlie passenger planes are understood to accom- 

 modate eleven passengers each and the voyage is to consume less than twenty-four 

 hours. 



HAVANA PRODUCE EXCHANGE TO REOPEN: On Monday, Octol)er 2.5th. the 

 Havana Produce Exchange is to reopen its doors for business, having been closed 

 since October 11th, when the moratorium was declared to exist. The reopening of 

 the Produce Exchange is an indication tliat the present financial crisis Is considered 

 to be clearing up. 



