THE CUBA REVIEW 



The stranger in the Tropics lacks generally the constant stimulus leading to successful 

 performance which spurs him in his native land, and he yields readily to the precon- 

 ceived notions that prevail with respect to the depressing influences of the climate You 

 will find him then fretting, growing excited over the insupportable heat, and compiainino- 

 loudly when others around him may be quietly attending to their work. Under these 

 conditions he often fails to resist the debasing influences of the lower moral environ- 

 ment which is apt to surround the new comer, away from the restraining influences of the 

 family ties, and the pride of place and name. To such evil influences we may add 

 sooner or later, the efl:'ects of various diseases that are neither telluric nor climatic, but 

 simply parasitic and, tiierefore. entirely preventable. 



The physiologist and the hygienist have not been able to point out any alteration in 

 the metabolic processes of the human body in the Tropics; they observe merely an 

 adaptation of the heat eliminating function of the skin ; an adaptation which is altogether 

 physiologic and compatible, therefore, with all degrees of human activity. 



The proper motives, the proper channels of energy are generally lacking or misdirected 

 at the present time in the white communities of the Tropics. They are just beginning 

 to conquer the diseases that have contributed to place them, for the time bein*, on a 

 scale of relative inferiority. But the great reservoir of energy that has found ''its ex- 

 pression in such characters as Alexander Hamilton, Charles Finlay, Toussaint Loverture 

 Bolivar and Andres Bello, is extant. 



A MERGER RUMORED 



The Pennsylvania Steel Co., which owns 

 the Maryland Steel Co., has about 600,000- 

 000 tons of iron ore in Cuba. This is 

 about as much as the United States Steel 

 Cor])oration owned when it was organized. 

 The Bethlehem Steel Co. also owns a large 

 body of ore land in Cuba in close proximity 

 to that owned by the Pennsylvania Steel 

 Co. A consolidation of the two interests 

 would provide practically unlimited iron ore 

 for many years to come for these two 

 companies, putting under one control prob- 

 ably a much larger amount of ore than that 

 owned by any other company in the world, 

 except the Steel Corporation. 



The Bethlehem company has not devel- 

 oped its Cuban ores. The Pennsylvania 

 Steel Co. has developed its property to such 

 an extent that an increase of furnace ca- 

 pacity is important in order to utilize these 

 vast supplies of ore ready for the market. 

 — Manufacturers' Record, Baltimore, Md. 



AN IMPORTANT MEMORIAL 



The Union of Manufacturers of Cigars 

 and Cigarettes of the Island of Cuba, by 

 an appointed committee, headed by its 

 president, Theodore Garbade, waited upon 

 President of Cuba, His Excellency, Mario 

 G. Menocal, late in January and laid before 

 him a lengthy memorial, explaining the 

 loss which Cuba is going to suffer as soon 

 as the Underwood tariff bill becomes ef- 

 fective March 1, 1914, as regards Cuban 

 sugar exports to the United States, and in- 

 sisting upon an allowance of 50 per cent 

 on our exports of cigars as an equivalent 

 in o'T next reciorocitv treaty and urging 

 a prompt solution of this matter so vital to 

 the Cuban cigar industry. The matter will 

 receive presidential attention. 



THE ROYAL BANK OF CANADA 



The statement to the Dominion govern- 

 ment showing the condition of the Royal 

 Bank of Canada on December 31, 1913, is 

 as follows : 



I-I.\BirJTlE.S 



Capital paid up $11,560,000.00 



Reserve fund 12,560,000.00 



Undivided profits 1,015,119.58 



N'otes in circulation 12.276,686.89 



Deposits 136,129,146.90 



Due to other banks 2,695,547.02 



Bills payable ( acceptances by 



London branch) '. 2,025,939.53 



Acceptances under letters of 



credit 362,048.22 



$178,624,488.14 



.\SSETS 



Cash on hand and in banks. $32,132,571.36 



Deposit in the central gold re- 

 serves 2,000,000.00 



Government and municipal 



securities 3,375,658.30 



Railway and other bonds, de- 

 bentures and stocks 14,448.672.50 



Call loans in Canada 9,525,890.21 



Call loans elsewhere than in 



Canada 7,219,594.45 



Deposit with Dominion gov- 

 ernment for security of 

 circulation 578,000.00 



$69,280,386.82 



Loans and discounts 104,094,418.22 



Liabilities of customers un- 

 der letters of credit as per 

 contra 362.048.22 



Bank premises 4,887,634.88 



$178,624,488.14 



