THE CUBA REVIEW 



15 



CHANGES IN WAR RISK INSURANCE 



It is learned from the Bureau of War Risk Insurance, Treasury Department, Wash- 

 ington, D, C, that it is now accepting cotton cargoes to Germany at a rate of 3 per cent, 

 instead of 5 per cent, as heretofore. 



The bureau has just issued its new schedule of general insurance rates on cargoes and 

 ships as follows: 



Rates from any ports in the United States to any ports in the world (other than those 

 named in the special list), or vice versa, are as follows: 



Cargo, Freight and Advances 



1. Between ports of the United States, its possessions, or any non-belligerent ports 

 in the Western Hemisphere, one-fourth of 1 per cent. 



2. Between ports on the west coast of the United States and Japan, and/or China, 

 one-fourth of 1 per cent. 



3. To non-belligerent ports other than above and not north of Havre, in Europe, nor 

 east of Sicil.y in the ^Mediterranean, one-half of 1 per cent. 



4. To all other ports, three-fourths of 1 per cent. 



FesseZ {Voyage Risks). 



By voyage, meaning from port of loading to not more than two ports of discharge. 



1. Between ports of the United States, its possessions, or any non-belligerent ports 

 in the Western Hemisphere, one-fourth of 1 per cent. 



2. Between ports on the west coast of the United States and Japan, and/or China, 

 one-fourth of 1 per cent. 



3. To other non-belligerent ports not north of Havre, in Europe, nor east of Sicily 

 in the Mediterranean, one-half of 1 per cent. 



4. Other ports, three-fourths of 1 per cent. 



Vessel (Time). 



Time policies to be issued for a period of ninety days only, rate 1J4 per cent. 

 If the insured agrees to a warranty, reading: "Warranted using only non-belligerent 

 ports in the Western Hemisphere," five-eights of 1 per cent. 



All rates subject to change without notice and effective from the date thereof. 

 Dated, Washington, D. C, January 11, 1915. — From Commerce Reports. 



FINANCIAL POSITION OF CUBAN RAILROADS 



Summarized figures for the year 1913-14 show the financial position of the lines in which 

 British and American capital is invested and controlled: 



Increase Increase 



Gross or Net or Working Divi- 



Miles Receipts Decrease Receipts Decrease Ratio dend 



£ £ £ £ % % 



United Havana 680 1,611,671 —15,003 661,260 —78,358 58.97 5 



Cuban Central 341 585,837 —31,766 217,676 —47,238 62.84 2 



Western Havana 147 286,705 +5,440 101,130 —13,915 64.73 7 



Total 1,168 2,484,213 —41,329 980,066 —139,511 



CubaRaikoad 602 1,032,934 +106,527 494,184 +51,084 52.16 6 



The three lines totalling 1,168 miles form a group distinct from the Cuba Railroad of 602 

 miles, which is American-owned. The United group shows decreases, but the balance sheets 

 show a combined reserve of £695,000. On the other hand, the Cuba Railroad not only shows 

 an increase in the year's turnover, but has paid 6 per cent., an increase of 2 per cent., though 

 nothing is placed to reserve. 



Very satisfactory reports come to hand from the Island of Cuba in regard to its railways, 

 the greater part of which are in British hands. There are about 2,300 miles of track in service, 

 and as soon as the financial markets improve it is intended to add to this already respectable 

 total which supplies the w^ants of a population of about 2,250,000. The United Railways of 

 Havana has something like 730 miles of track under its control; the Cuba Railroad, a Canadian 

 enterprise which has made astounding advance during the past few years possesses about 

 602 miles of track; the Cuba Central Railway has 262 miles, and the Western Railway of 

 Havana 150 miles of railroad. 



The Cuban railways are remarkable for the low working costs which they usually show. — 

 Railway Gazette, London. 



