30 



THE CUBA REVIEW 



Accounts P:>yal)l(': 

 New York current accomits. 

 Cul)a current accounts 



814,892.01 

 1-J,4<)8.7S 



Accrued Interest: 

 On funded and otlier debt 

 Surplus 



27,;i<.)().7<t 1<.)1,:}'.»().7'.) 



IS, 727.50 

 l«)0,Ulti.O:) 



1,119,134.29 



Xotvft. — The de^il of triist ffoverninfj; the Lssue of first mortgage bonds ])rovides that 

 l)eginning July 1, 1905, there shall l)e paid to the trustee out of the net earnhigs of the company, 

 after pajnnent of all operating expenses and interest, the sum of •?76,S7r), annually, and 

 that no dividends ui)on tlie cajjital stock may be paid until all arrears of sinking fund hall 

 have been paid to the trustee. The by-laws of the company were amendetl to correspond. 

 The company has made no provision for sinking fund up to the date of this balance sheet. 



Dividends have a crued on tlic preferred stock from .\ugust, 1, 1911. 



UNITED RAILWAYS 



According to the Financial Neics oj London, 

 British stockholders of the Havana railways 

 are somewhat dissatisfied over the fact that 

 on the London Stock Exchange the quota- 

 tions for United Railways stock apply to 

 what is known as two signature stock. These 

 shares bear two signatures, those of a di- 

 rector and a secretary of the Company. The 

 shares officially quoted in Havana on the 

 Havana Stock Exchange bear four signatures, 

 and it seems that the Havana Stock Exchange 

 practically recognizes trading in four signa- 

 ture stock only. This, according to the 

 article, has the effect of narrowing the 

 market for this stock and also tends to make 

 it difficult for British holders to dispose of 

 their two signature stock, and it is thought 

 that the holders of two signature stock may 

 take legal steps to compel the Havana Stock 

 Exchange to quote on two signature stock 

 and thus create a wide market and make it 

 more easy for British hoklers to dispose of 

 their holdings, as apparently many of them 

 wish to do at the present time because at the 

 present rate of exchange the traasaction 

 would be in favor of the British holder. 



GUANTANAMO & WESTERN RAILROAD 



E. M. Wise has been appointed general 

 manager in charge of all departments, with 

 office at Guantanamo, Cuba, vice H. B. 

 Snidei, resigned, effective September 1, 1916. 

 H. C. Holmes has been appointed super- 

 intendent, with office at Guantanamo, vice 

 H. H. McGinty, resigned, to accept service 

 elsewhere; effective October 1, 1916. 



Xi]K; Bay Company for 



ended Sept. 30, 1916, conipar 



ended June 30, 19 lo. 



Sept. .SO, '16 ,Ic. 

 Xct earning, taxes 



doducted $2,687,960 S2 



Miscel. income. .. .34,068 



Total income 2,722,.o3.5 2 



Interest charges. . 437,200 



Net income 2,28.5,33.5 1 



Dividends 383,034 



Surplus for period. 1,902,301 1 



Previous surplus.. 1,178, 0.59 



Total surplus 3,080,300 1 



Direct charges to 



profit and loss.. 871,298 



Balance surplus. . 2,209,002 1 



CUBAN PORTLAND CEMENT COMPANY 



The Boston Xeics Bureau is the authority 

 for the announcement that the International 

 Portland Cement Company will make an 

 exchange of its company's stock, share for 

 share, for stock of the Cuban Portland 

 Cement Company. This is in effect a con- 

 solidation of the two companies, and should 

 this exchange take place, the International 

 Companj'' will have outstanding 50,000 shares 

 preferred and 200,000 shares common. It 

 is thought that the operations of the Cuban 

 companj- would start July 1st next, and that 

 the capacity of the Culjan plant would soon 

 be at the rate of 600,0()() barrels per year. 



GIBARA & HOLGUIN RAILROAD 



The Cuban Government has authorized 

 this compan}- to erect at Gibara an apparatus 

 for discharging coal. 



The Cuban Land & Steamship Co. announces 

 the removal of its office to Room 2003, No. 60 

 Wall Street, New York City. 



