THE CUBA REVI EW 



21 



American holding company. This latter 

 condition was evidently based on the de- 

 sire to avoid possible complications that 

 might arise should the United States at 

 any future time desire to utilize the 

 docks at which troops and supplies were 

 landed under the late intervention. While 

 it is undeniable that the commerce of 

 the port would be greatly benefitted by 

 the terminal and that the city would 

 gain by the exclusion of the railroad 

 from the Prado, it must be remembered 

 that without means for erecting public 

 buildings the government would have no 

 use for the railroad site. 



It has been suggested that a better 

 plan would be for the Government to 

 compel the railroad to vacate the the 

 Villanueva site, disposing of the same to 

 the best purchaser and then buy from 

 the government what Arsenal land might 

 be necessary for the Union Terminal. 

 The question has arisen as to the power 

 of the Government to compel the United 

 Railways to vacate and in this connec- 

 tion it is interesting to know that under 

 the Spanish regime that right was 

 claimed by the Government and, in fact, 

 in one instance was enforced. This was 

 in the later '80s, under Governor General 

 Salamanca, who for a time forbade the 

 railroad to run its cars into the station 

 and compelled the erection of a new sta- 

 tion in the outskirts of the city. Sala- 

 manca, however, died and the railroad 

 then regained possession of the property. 



Very recently the Senate passed the bill 

 for the exchange in its original form and 

 it is now before the House. This action, 

 however, may be regarded as merely 

 proforma, as President Gomez has not 

 yet officially informed the Congress of 

 the attitude of the United States, which 

 he will probably soon make the subject 

 of a special message. — J. R. C. 



Against the Exchange. 



La Lucha started on Jan. 25 a very en- 

 ergetic campaign against the recent mo- 

 tion passed in the Senate, having in 

 view the exchanging of the lands oc- 

 cupied by the old Arsenal for those of 

 Villanueva of the United Railways of 

 Havana. 



La Lucha holds that if such exchange 

 is consummated the Republic will sooner 

 or later be exposed to some very serious 

 complications. The United Railways of 

 Havana, being an English company, is 

 under the laws of Great Britain bound 

 to give up its properties to that nation 

 whenever it may demand. Should Eng- 

 land ever consider it necessary to oc- 

 cupy the part of Havana's harbor where 

 the Arsenal lies for a coaling station or 

 for any other naval or military purpose 

 she would not hesitate to compel the 

 United Railways to withdraw, leaving 

 the premises entirely at the mercy of 

 that nation. This, it says, would pro- 

 mote numberless complications. ' 



HAVANA STOCK AND BOND QUOTATIONS FOR JANUARY, 1910. 



Furnished by i\l. de Cardenas & Co., Cuba No. 74. 

 (Prices are quoted in Spanish Gold.) 



Opening High Low Closing 



BONDS. Jan. 3. Jan. 31 



5% Cuban Govt. Bonds (Speyer) 116 117 116 115 115 117 



414% Cuban Govt. Bonds (Speyer) 106 109 107 106 107 109 



6% City of Havana 1st Mtge 118 120 118>^ 118 118>< 119i^ 



6% City of Havana 2d ^Itge 115 116^ 115i-4 115 115 116 



5% Havana Elec. 5% Bonds 106 108 107 105^ 105 107 



5% Cuban Govt. Internal Debt 105^-^ 106 106>4 105 106 106>^ 



SHARES. 



Bank of Spain 108^ 110 109 90* 94 95^ 



United Railway IIOH 111^4 IW'A 100 IO414 104j^ 



Gas Shares 109 110 110^4 101 102^ 103^^ 



Havana Elec. Pfd 109 110^ 111 103 104 105^ 



Havana Elec. Common 114^ 116 115.'% 90 105^ 106^ 



*Ex. Dividend 414%- 



There was a decline of nearly 15 points on the average in all Stocks during the 

 first week of the month, due to overspeculation in the latter part of 1909. The verj^ 

 drastic declme^ however, has put the market on a solider basis and this, together 

 with the large amount of money from the Sugar Crop coming in, should make Stocks 

 go a little higher during the next three or four months. 



