14 THECUBAREVIEW. 



RAILROADS AND FINANCIAL. 



Report of the Cuba Company — Earnings of the United Railways of Havana, the 



Havana Electric Co., Etc. 



The Cuba Railroad. Report of the United Railways of 



August and September Report. Havana and Regla Warehouses. 



The report of the Cuba Railroad Co. .^^he report for the year ended June 



for the month of August and two 30, 1908, as compared with 1906-1907 is 



months ended August 31, compares as as follows: Receipts, £930,216, a de- 



follows" ri7 crease of £281,256; expenses, £633,155, 



1908 1907 a decrease of £35,041, leaving a balance 



August gross .... $127,843 $145,268 of £297,061, a decrease of £246,215. The 



Expenses 84,865 106,854 ratio of expenses to receipts was 68.06 



■ per cent., as compared with 55.15 per 



August net . . . $42,978 $38,414 cent, the previous year. 



Charges 32,262 28,329 'pj^g business of the company during 



'■ T the year 1907 was adversely affected by 



August surplus . . $10,716 $10,085 the short sugar crop, resulting in a seri- 



Two mos. gross . . 281,629 298,300 q^s diminution in the receipts of the 



Expenses 175,187 209,260 railways, while the operating cost was 



largely increased owing to a four 

 Two mos. net . . . $106,422 $89,040 months' strike of the company's em- 

 Charges 64,525 56,658 ployees. In the general manager's 



■ opinion, the strike cost the company 



Two mos. surplus . $41,917 $32,382 about £40,000. The general manager's 



report states that the percentage of 



The report of the Cuba Railroad Co., total receipts from passenger traffic has 

 for the month of September and three risen to 33.04 per cent., as against 26.59 

 months ended September 30, compares pgr cent, in 1906-1907. In spite of the 

 as follows: 1908 1907 general falling off in all traffic, the lug- 

 Sept, gross .... $141,227 $145,155 gage and parcel receipts show anin- 



Expenses 81,914 109,026 crease of 14.2 per cent. The receipts 



from carrying the mails have been some 



Sept. net $59,313 36,129 £4,000 less. The receipts from goods 



Charo-es 32 262 28 329 and live stock amounted to £484,054 



' ' against £687,989, in the previous year, 



Sept. surplus .... $27,051 $7,700 a decrease of 29.35 per cent. 



Three mos. gross . . 422,857 443,456 The Regla warehouses have been 



Expenses 257,102 318,287 worked this year at a loss of £3,245, 



_^ , whereas last year there was a profit of 



Three mos. net . . $165,755 $125,169 £4,128. 306,377 bags of sugar less were 



Charges 96,787 84,987 received in Regla warehouse for ware- 



housing and in transit over wharves. 



Three mos. surplus. $68,968 $40,182 Economies put into effect on the first 



of April last took the form of 10 per 



American Club Dividends. cent, reductions on all salaries from $100 



Twenty per cent, in dividends in the per month upwards, and 5 per cent, on 



last two and a half years is the record sums below this to $60, and the num- 



of the American Club Building Com- ber of men employed were reduced as 



pany, according to a statement issued far as possible, 



by the treasurer of the company, G. The feeling throughout the island is 



Lawton Childs^ one of expectation, and future prospects 



Consolidation of Havana Banks. appear much better in every way The 



The announcement was made Novem- directors report further says that since 



ber 17 that the National Bank of Cuba the close of the last financial year the 



and the Bank of Havana would be con- Havana Central Railway Company (in 



solidated, the former controlling and ^'hich the Company is largely mter- 



liquidating the Bank of Havana. The ested) has made substantial progress in 



capital will not be increased. the work necessary to complete its ter- 



mmals m Havana, and it is expected 



Havana Electric Regular Dividend. that these will be available for this Corn- 

 Directors of the Havana Electric pany's use before next crop. To assist 



Railway Co. have declared the regular this work advances have, from time to 



quarterly dividend of $1.50 on the pre- time, been made to the Havana Central 



ferred stock, payable November 14 to Company, the loans being repaid by the 



stock of record October 24. Books issue to this Company of six per cent, 



closed October 26 and reopened Novem- three-year sterling notes of the Havana 



ber 14. Central Company. These notes were 



