24 



THE CUBA REVIEW 



CUBAN COMMERCIAL MATTERS 



PREVAILING PRICES FOR CUBAN SECURITIES 



Quoted by Lawrence Turnure & Co., New York 



Bid Asked 



Republic of Cuba Interior Loan 5% Bonds 87 89 



Republic of Cuba Exterior Loan 5% Bonds of 1944 95 96 



Republic of Cuba Exterior Loan 5% Bonds of 1949 933^ 94i^ 



Havana City First Mortgage 6% Bonds 100 104 



Havana City Second Mortgage 6% Bonds 97 102 



Cuba Railroad Preferred Stock 90 91 



Cuba Railroad 1st Mortgage 5% Bonds 92 95 



Cuba Company 6% Debenture Bonds 92 96 



Cuba Company 6% Cumulative Preferred Stock 98 105 



Havana Electric Railway Consolidated Mortgage 5% Bonds 87 89 



Havana Electric Railway Light & Power Co. Preferred Stock 75 85 



Havana Electric Railway Light & Power Co. Common Stock 57 67 



Matanzas Market Place 8% Bonds Participation Certificates 99 104 



Cuban-American Sugar Co. Collateral Trust 6% Bonds 94 H 953^ 



Cuban American Sugar Co., Preferred Stock 92 94 



Cuban American Sugar Co., Common Stock 42 45 



Santiago Electric Light & Traction Co., 1st Mortgage 6% Bonds 93 96 



Repubhc of Cuba Exterior Loan 4^% 90 93 



All prices of bonds quoted on an "and interest basis." 



NEW MINE AT PINAR 



It is announced that a new copper mining 

 company called the Cuprifera Pinareiia, with 

 a capital of .$750,000 is about to begin opera- 

 tions in the province of Pinar del Rio, having 

 obtained a concession for 99 years. The dis- 

 trict to be worked is that comprised by the 

 mines Santa Nicolosa, Santa Victoria and San 

 Jose, and includes 391 hectares of land. 



The president of the company is Sr. Ricardo 

 Fernandez, and it is stated that all the legal 

 formalities have been comphed with and that 

 work will start this month. It is proposed to 

 build a short branch rail road to connect the 

 mines with the main line, and if the plans of 

 the company are carried out it is believed that 

 the economic question in that part of the pro- 

 vince of Pinar is solved, as the company say 

 they will employ several hundred workmen 

 and give them steady work. 



PROPOSAL FOR CUBA TO REIMBURSE THE 

 UNITED STATES 



In the United States Congress, a bill known 

 as the Diplomatic Appropriation, Bill was 

 introduced, which contains the following 

 interesting provision — -that the President of 

 the United States "take such steps" as may 

 be necessary to have the Republic of Cuba 

 reimburse the United States to the extent of 

 $6,509,511 for the expense of pacification 

 from 1907 to 1909. 



LONDON MARKET FOR CUBAN SECURITIES 



The amount of Cuban capital pubhcly sub- 

 scribed for in the London market for the last 

 two years is as follows: 



1913 .... $10,290,195 1914 .... $194,660 



TRUST COMPANY OF CUBA HAD A VERY 

 GOOD YEAR 



The results of the meeting of directors of 

 the Trust Company of Cuba should be of the 

 greatest interest to the stockholders. It was 

 approved to augment the reserve fund up to 

 $500,000, which constitutes 50 per cent of the 

 capital; $5,000 were written off on account of 

 the bank buildings, and a dividend of 6 per 

 cent was declared. The profits on the year's 

 business amounted to $91,856, which is more 

 than 18 per cent of the active capital. 



DEFICIENCY NEARLY £400,000 



Under the liquidation of the Havana Ex- 

 ])loration Company (Limited), whose offices 

 were at 4 London-wall-buildings, E.C., the 

 official receiver reports that it was registered 

 in June, 1909, with a nominal capital of 

 500,000^., and was formed to acquire and take 

 over asphalte, bitumen, oil and coal bearing 

 and other properties situate in Cuba, and 

 particularly to take over the assets and habih- 

 ties of the Havana Investment Syndicate 

 (Limited). 



The statement of affairs which has been 

 lodged discloses gross liabihties, 78,942Z. 

 (ranking 29,338L) and net assets 6,297^., with 

 a total deficiency as regards contributories of 

 385,759Z. 



As the result of the statutory meetings of 

 the creditors and contributories the official 

 receiver continues to act as liquidator with a 

 committee of inspection. — -Morning Adver- 

 tiser, London. 



