THE CUBA REVIEW. 



21 



RAILROAD AND FINANCIAL MATTERS. 



Havana Electric Earnings. 



For the week ending May 31 the Ha- 

 vana Electric Railway earned $34,393.05, 

 American currency, or $2,174.65 more 

 than for the corresponding week 

 in the previous year. Up to the 

 date mentioned the Havana Electric 

 shows an increase of $71,207 American 

 money for the present fiscal year over 

 the same period in the last economic 

 year. 



Havana Central New Securities. 



At the special meeting of the stock- 

 holders of the Havana Central Railroad 

 Co. held in Jersey City, June 24, an issue 

 of $3,500,000 bonds was authorized, se- 

 cured by a mortgage covering terminal 

 and other properties. Six per cent. 3- 

 year sterling notes to an amount of 

 £600,000 secured by the new bonds and 

 other collateral, were also authorized. 

 These notes, it is stated, have already 

 been sold abroad at 96, London bankers 

 taking the entire issue. 



The Havana Central Railway is a 

 short line running from Havana to 

 Guanajay on the west and to Guines on 

 the southeast. Electric power is used 

 for passenger trains and big motor en- 

 gines for the handling of freight. Much 

 of the large fruit traffic between the 

 points named is handled by this com- 

 pany. 



CUBA RAILROAD. 



Surplus Over Charges for Month of May 



$29,000, a Decrease from 1907 



of $13,000. 



The report of the Cuba Railroad Co. 

 for the month of May and eleven months 

 ended May 31, compares as follows: 



1908. 1907. 



May gross $173,515 $188,979 



Expenses 112,639 118,391 



May net $60,876 $70,588 



Charges 31,892 28,329 



May surplus $28,984 $42,259 



Eleven months gross 1,893,901 1.767,843 

 Expenses 1,225,517 1,186.586 



Eleven months net. $668,384 $581,257 

 Charges 333,510 297,601 



Eleven mo. surplus $334,874 $283,656 



Checks Coming Into Use. 



It has only been within the last seven 

 years, since the establishment of the Na- 

 tional Bank of Cuba, that checks have 

 been used to any extent, but the con- 

 venience and safety is so apparent that 

 they have rapidly grown into favor. 



The number of checks paid through 

 the windows of the head office of the 

 National Bank of Cuba reaches over 

 3,000 a day, and the movement of actual 

 cash, as distinct frolm checks, through 

 the tellers reaches more than $i,ooo,qco 

 a day, principally in coin, as United 

 States bank notes are scarce. Collec- 

 tions in Havana run over $1,000,000 a 

 week. 



National Bank of Cuba Dividend. 



The National Bank of Cuba has de- 

 clared a semi-annual dividend of 4% on 

 its stock, payable at the office of the 

 Bank of Havana. 



United Railways Earnings. 



The United Railways of Havana and 

 Regla Warehouses have earned in the 

 week ending July 4, £11,870, or £1,734 

 less than in the corresponding week of 

 last year, which was £13,604, taking 

 one day from, the last fiscal year and the 

 six from the present fiscal year. 



LTp to the week ending June 30 last, 

 completing the business year, the United 

 Railways have earned £229,334 (approx- 

 imately), showing a deficit of £289,571 

 to June 30, 1908. Up to date the de- 

 crease in earnings aggregates $1,542,- 

 834.28, Spanish gold. 



In the week ending June 5 the earn- 

 ings were $36,451, or $1,365 more than 

 in the corresponding week of last year, 

 Avhich was $35,086. Up to date the earn- 

 ings aggregate $938,030 in - the current 

 business year, an increase of $84,394.13. 



The Spanish Bank Dividend. 



The Board of Directors of the Spanish 

 Bank (Banco Espanole de la Isla de 

 Cuba) passed its regular semi-annual 

 dividend at a meeting at the company's 

 office in Havana held June 3. The 

 bank's balance at the conclusion of busi- 

 ness on the same date was nearly 

 $2,500,000. 



Mr. Stewart Hamilton, manager of the 

 Royal Bank of Canada at Matanzas, has been 

 appointed vice-consul of Great Britain and 

 Ireland at Matanzas. 



