THE CUBA REVIEW 



2:i 



CUBAN FINANCIAL MATTERS 



NIPE BAY COMPANY 



The report, of the Xipe Bay Company, 

 which is controlled by the United Fruit Co., 

 for the year ended June 30, 1915, shows net 

 earnings of $2,164,718, an increase of $1,414,- 

 639 over the preceding year. The income ac- 

 count compares as follows : 



1915 Increase 



Net earnings $2,164,718 $1,414,639 



Total int. charges .... 380,405 *37,593 



Net income 1,784,213 1 ,452,232 



Surplus brought for- 

 ward from prev. yxs . 134,644 27,875 



Surplus 1,918,858 1,480,108 



Dividends declared... 360,508 360,508 

 Direct charges against 



income 380,290 76,184 



Total dividends and 



dif . charges 740,798 36,692 



Balance surplus 1,178,059 1,043,415 



*Decrease. 



President Preston says: 



The company's production during the fiscal 

 year aggregated 120,247,960 pounds of first 

 sugar and 3,114,041 gallons of molasses, com- 

 paring with 147,732,480 pounds of first sugar 

 and 3,168,952 gallons of molasses for previous 

 year. An issue of $3,500,000 fu-st mortgage 

 5% sinking fund gold bonds dated May 1, 

 1915, and- due May 1, 1925, was made aad the 

 floating debt retired. 



LA COMPANIA CURTIDORA CUBANA 



Su Ultimo Balance General 

 Cuarto ano social: 



Balance general de la Compania Curtidora 

 Cubana por el cuarto ano social, terminado 

 el dia 30 de Junio de 1915. 

 Adivo 



Acciones en cartera $32,500. 00 



Constitucion de la Compania .... 86,854. 38 



Propiedades y Maquinarias 3,176. 47 



Existencias en cueros verdes, 



curtidos y correas 32,420. 03 



Deudores varios: cuentas al cobro 16,024. 07 

 Dividendos: repartidos & cuenta . 7,024. 00 



Total $177,998.95 



Pasivo 

 Capital : $150,000. 00 



Obligaciones a pagar 11,300. 00 



Fondo de reserva 881 . 40 



Cuentas corrientes 4,739.46 



Ganancias y perdidas: utilidades 



en el ano 11,078.09 



Total $177,998. 95. 



Nota 



Producto: 9^ por ciento de utilidades. 



Se ha amortizado el 10 por ciento del valor 

 de las maquiaarias, y se han elaborado en el 

 ano, 15,766 cueros con 564,000 libras. 



Los valores de esta Compania son cotizados 

 en la Bolsa, oficialmente, siempre a tipos- 

 altos y firmes. 



THE AMERICAN SUGAR REFINING CO. 



With the retirement of Mr. Charles H. 

 Allen as President and Mr. Edwin F. Atkiias' 

 resignation as chairman of the board of dii-ec- 

 tors, the management of this company passes- 

 into new hands under Mr. Earl D. Babst, 

 who was elected president on July 13th, and 

 who assumes, individually, the positions that 

 were held by Messrs. AUen and Atkins. 



!Mr. Atkms became a dii'ector of the com- 

 pany at the annual meeting January 12, 1910, 

 as one of the representatives of the New 

 England stockholders. In October, 1910, he^ 

 was elected vice-president and early in 1911,. 

 when Mr. Thomas resigned the presidency,. 

 Mr. Atkins became the acting president and 

 virtually the executive head of the corpora- 

 tion. Later he became actual executive head 

 by being elected chair-man of the board of 

 directors July 29, 1913, which position he has. 

 held up to this present resignation. 



Mr. Atkins continues as a director and his. 

 valuable services and intimate knowledge 

 of the sugar business are still at the disposal 

 of the company. Mr. .Allen also continues, 

 as a director. 



^Messrs. Washington B. Thomas and George 

 H. Frazier continue as vice-presidents. 



Havana Electric Railway, Light & Power 

 for six months ended June 30: — 



1915 1914 



Gross earn 2,751,375 2,675,456 



Net 1,019,644 791,152, 



