THECUBAREVIEW 23 



CUBAN FINANCIAL MATTERS 



PREVAILING PRICES FOR CUBAN SECURITIES 



As quoted by Lawrence Turnure & Co., New York. 



Bid. Asked. 



Republic of Cuba Interior Loan 5% Bonds 94 95 



Republic of Cuba Exterior Loan 5% Bonds of 1944 98}/^ 9914 



Republic of Cuba Exterior Loan 5% Bonds of 1949 96 96^^ 



Republic of Cuba Exterior Loan 4J/^% Bonds of 1949 85>^ Sej^ 



Havana City First Mortgage 6% Bonds 103 105 



Havana City Second Mortgage 6% Bonds 102 lO'i 



Cuba Railroad Co. Preferred Stock 941^ 93 



Cuba Railroad Co. First Mortgage 5% Bonds of 1952 -. 94 96 



Cuba Co. 6% Debenture Bonds 99 lOO 



Cuba Co. 7% Cumulative Preferred Stock 100 104 



Havana Electric Railway Co. Consolidated Mortgage 5% Bonds of 1952.. . 92 J^ 93 



Havana Electric Railway, Light and Power Co. Preferred Stock 1 



Havana Electric Railway, Light and Power Co. Common Stock j ^^° market 



Matanzas Market Place 8% Bond Participation Certificates 100 105 



Cuban-American Sugar Co. Collateral Trust 6% Bonds of 1918 102^ 102M 



Cuban-American Sugar Co. Preferred Stock 100 109 



Cuban-American Sugar Co. Common Stock 240 247 



Guantanamo Sugar Company Stock 59 62 



Santiago Electric Light and Traction Co. 1st Mtge. 6% Bonds 94 95 



All prices of bonds quoted on an and interest basis. 



REPORT OF THE CUBA RAILROAD COMPANY 



To the Shareholders: August 11th, 1916. 



Your Directors beg leave to submit the following report of operations for the year 

 ended 30th June, 1916, and a General Balance Sheet at that date. 



The gross earnings of the Railroad for the year were $6,815,696.81, while the net earnings 

 were $3,517,026.50. The proportion of working expenses to gross earnings was 48.40 per cent. 



During the past year the general development in the Island of Cuba has been very marked, 

 especially in the territory served by your Railroad. The number of sugar mills on your lines 

 is constantly increasing, there being six under construction for the coming crop, while the 

 capacity of many of the existing mills is being largely increased. This will necessitate large 

 additions to your rolling stock and general facilities, for which provision has been made. The 

 railway and its equipment and appurtenances have been well maintained and are in excellent 

 condition. 



At a meeting of the shareholders held on December 9, 1915, you authorized the purchase of 

 the ownership of the Camaguey & Nuevitas Railroad, carrying with it a concession for the 

 construction, under subsidy, of a railroad from Camaguey to Santa Cruz del Sur, a distance 

 of 983^ kilometers. In order to finance this purchase you also authorized the issuance and sale 

 by The Cuba Railroad Company of $3,000,000 of 3-year 5 per cent Gold Notes. The purchase 

 was duly completed and the ownership of the railroad was taken over as at November 15th, 

 1915. Preparations were immediately made to commence building the Santa Cruz line, while 

 the Camaguey & Nuevitas Railroad Company has prepared plans and commenced construc- 

 tion on the extension of its railroad to a new deepwater terminus on the Baj^ of Nuevitas. 



The net earnings of the Camaguey & Nuevitas Railroad Company for the period from 

 November 15th, 1915, to June 30th, 1916, were $163,362.44. All of the stock of this Company 

 is owned by The Cuba Railroad Company and is pledged as security for the Three Year Notes 

 of The Cuba Railroad Company. 



