28 



THE CUBA REVIEW 



FINANCIAL MATTERS 



CUBAN TELEPHONE COMPANY 



This company, which has been paying 

 dividends at a rate of 5 per cent a year on 

 its $5,000,000 of common stock, will not 

 pay any further dividends on that stock, 

 says the United States Investor. The regu- 

 lar quarterly dividend of lV> per cent on 

 the $2,000,000 of preferred was paid Octo- 

 ber 16th and will be continued. 



The report of the Cuban Telephone Com- 

 pany for the month of November last 

 shows an increase of 4,644 subscribers over 

 last year, the number being l.>,562 as 

 against 10,918 last year. 



The receipts show a corresponding in- 

 crease, being $85,069 this year as against 

 $62,360, an increase of $22,708.40. 



EARNINGS OF THE SANTIAGO LIGHT 

 AND TRACTION COMPANY 



1913 



November gross $38,326 



November net 17,^43 



First 11 months gross.. 417,312 

 First 11 months net.... 187,016 



1912 



$32,490 



13,794 



367,289 



152,886 



ADVISE OF BOND EXTENSION 



Local banks have been advised by the 

 National Bank of Cuba, as fiscal agent for 

 the Cuban government, that the Cuban gov- 

 ernment 5s, due November 28th, have been 

 extended. This is the loan of August, 

 1905. Holders of the issue will receive 

 coupon sheets from May 28, 1914, to No- 

 vember 28, 1929, by sending in their cer- 

 tificates. The market for these bonds at 

 present is around 95. 



EXPENDING THE $15,000,000 



Of the $15,000,000 wanted for Cuba's 

 pressing needs, $8,000,000 will be imme- 

 diately used for these claims : 



Payment to J. P. Morgan & Co. 



for its notes $2,500,000 



Amounts due on original sewer 

 and paving contract of Ha- 

 vana 3,000,000 



Debts of Department of Public 



Works 1,500,000 



Amounts due and owing by In- 

 terior Department 1,000,000 



Concerning the remaining $7,000,000, 



$1,000,000 is required for the reconstruc- 

 tion of the sidewalks in Havana proper 

 which the government is bound to build. 



The remaining $6,000,000 are required to 

 cover the payment for the extensions made 

 in the sewer and paving contract which 

 will finally place the city in perfect sanitary 

 condition and which are also required to 

 pave some of the streets and principal 

 business arteries in the city proper. 



CUBAN LOANS IN LONDON 



There are two Cuban government loans 

 known and dealt in in London, namely, the 

 five per cent issue of 1904, of which $32,- 

 960,000 is outstanding, and the four and a 

 half per cent loan for a total of $16,500,000, 

 none of which has yet been redeemed. The 

 four and a half per cent loan was issued in 

 three equal parts, $5,500,000 being offered 

 in London and New York in September, 



1909, at 96 per cent, $5,500,000 in February, 



1910, at 98 per cent and $5,500,000 in Feb- 

 ruary, 1911, at 98% per cent. 



Prevailing Prices for Cuban Securities 



(Quoted by Lawrence Turnure & Co., New York) 



BID ASKED 



Republic of Cuba Interior 5% Bonds 90 93 



Republic of Cuba Exterior 5% Bonds 100 100% 



Havana City First Mortgage 6% Bonds 103 108 



Havana City Second Mortgage 6% Bonds 98 102 



Cuba Railroad First Mortgage 5% Bonds 97^/^ 101 



Cuba Railroad Preferred Stock 97 100 



Cuba Co. 6% Debentures 95 100 



Havana Electric Railway Consol. Mtge. 5% Bonds 92 93 



Havana Electric Railway Light & Power Co. Preferred Stock 90 92 



Havana Electric Railway Light & Power Co. Common Stock 77 79 



Matanzas Market Place S% Bonds Participation Certificates 100 104 



Cuban-American Sugar Co. Coll. Trust 6% Gold Bonds of 1918 93 96 



Santiago Electric Light & Traction Co. First Mtge. 6% Bonds 98^/4 98y2 



All prices of bonds quoted on an "and interest" basis 



