24 



1 IJ E CUBA REVIEW 



CUBAN FINANCIAL MATTERS 



CUBAN RAILWAYS 



Cuba, liko Jamaica and .some of tlie other 

 sugar-producing islands, is enjoying coasiders 

 able ])r<)S])erity and the railroads are doing 

 remarkably well. 'I'he United Railways of 

 the Havana has not only succeeded in wiping 

 off a large aggregate decrease since the com- 

 mencement of the present year, but has been 

 able to replace it by a gross increase of 

 £109,000, while the Cuban Central has 

 £65,000 to the good for the twelvemonth. 

 The other member of the Triple Alliance, the 

 Western Railway of Havana, only just 

 managed to extinguish its deficit, earnings 

 being affected by the indifferent tobacco 

 liarA'est. Although the sugar mills have 

 practically finished crushing until the turn of 

 the year, planters have been getting such 

 good prices for their sugar crop that general 

 trade is being benefited, and the companies 

 have started the New Year with fairly good 

 traffics. Last year, owing to the war and the 

 difficulty of raising fresh capital, the director- 

 of the United Railways of the Havana, 

 instead of paying the cash dividend of 5 per 

 cent., which had been duly earned, decided 

 to pay it in 5 per Cent. (1906) Debenture 

 Stock, increasing the amount of that stock 

 by £328,000 for the purpose. Although, 

 owing to shareholders realizing this stock 

 into cash, the price fell to 91 or so, still those 

 w^ho were in position to hold on to their stock 

 had the opportunity, just before the influence 

 of the new War Loan was felt, to sell at 101. 

 In view of the improved traffics secured this 

 year, the market takes the view that the 

 company will pay the same 5 per cent, 

 dividend, but that it will be paid in cash, not 

 stock, this time. The position then was still 

 further compUcated by the difficulty of ob- 

 taining reasonable exchange for remittances 

 to this country. — Morning I-'oal, London. 



NATIONAL CITY BANK SCHOOL 



The National City Bank of New York has 

 extended a system of trainmg men for Cuban 

 and South American service, and has es- 

 tablished a special class which began on Au- 

 gust 1st. This class system of training 

 bankers is the first to be put into operation 

 in the United States. 



ISLE OF PINES FRUIT GROWERS EXCHANGE 



Miscellaneous $276.00 



Buildings: General. . . . $1,970.03 



Packing House No. 1 3,717.43 



Packing House No. 2 4,044.47 



Packing House No. 3 22.50 9,754.43 



E(iuipment 663.72 



Bills receivable 7,299.25 



Inventory 8,110.25 



Cash 2,330.24 



$28,434.16 



Liabilities 

 Capital Stock: General .$10,639.36 

 Packing House No. ] 3,768.26 

 Packing House No. 2 4,027.84 

 Packing House No. 3 467.50 

 Store 855.00 $19,757.96 



Bills payable 



Undivided profits 



5,336.92 

 3,339.28 



$28,434.16 

 Annual statement, issued Jidy 1, 1915. 



NEW YORK ASSAY OFFICE OPERATIONS 



Transactions at the assay office in July 

 amounted to $1,987,000, as follows: Gold 

 bars paid on deposit $290,308; exchanged for 

 gold coin (domestic) $1,443,734; exjiorted to 

 Cuba .$252,959. 



CUBA COMPANY 



The Board of the Cuba Com])any has de- 

 clared the usual half-yearly dividend of 3^^ 

 per cent, on the seven per cent preference 

 stock. 



CUBA RAILROAD 



The directors of the Cuba Railroad Com- 

 pany have declared a dividend of 3 per cent, 

 on the preferred stock, payable 2nd August. 



NATIONAL BANK OF CUBA 



The Board of Directors of the National 

 Bank of Cuba have declared a semi-annual 

 dividend of 4% U. S. currency in favor of the 

 shareholders of record June 30, 1915. 



