THE CUBA REVIEW 



19 



ANNUAL REPORT OF THE CUBA RAILROAD 



Figures of the annual report of the Cuba Railroad Company, published September 1st, 

 and covering the fiscal vear ended June 30th last, shows gross earnings of $2,559,335, an 

 increase of $402,170. Operating expenses. $1,452,036, including $96,000 for extraordmary 

 replacements, left net earnings at $1,107,299, an increase of $157,211. From the net income, 

 $672,089, there was deducted $300,000 for dividends, leaving the surplus at $372,089, which, 

 with the previous surplus, $1,653,293, leaves a total surplus at $2,025,383, an increase of 

 $381,298. 



In his statement to the shareholders Sir William C. Van Home, the president, says that 

 during the year 1883 timber bridges aggregating 5,318 linear feet have been permanently 

 replaced by' concrete, steel and filling, and that concrete abutments have been completed 

 in 128 other bridges. The new lines from Marti to Palma Soriano and from Bayamo to 

 Manzanillo are almost completed. When they are finished, there will be due from the 

 government of Cuba on subsidy account $1,642,032, to be paid in six annual instalments. 



The earnings and expenses, in detail, compare as follows : 



Gross Earnings 



1910 1909 1908 1907 



Passenger $1,001,291 $928,242 $898,086 $873,790 



Freight 1,136,474 896,759 826,474 802,545 



Mail, expenses, etc 421,571 332,164 314,908 276,974 



Total $2,559,336 $2,157,165 $2,039,468 $1,953,309 



Operating Expenses 



Mt. way and st 



Maintenance of equipment 



Conduc. tran 



General expenses 



Antill Term 



1910 



$352,607 



209,693 



698,163 



146,586 



44,987 



1909 



^301,904 



183,363 



575,774 



106,877 



36,158 



1908 



$382,321 



206,206 



569,899 



111,666 



48,088 



1907 



$409,973 



206,870 



560,239 



105,477 



12,395 



Total $1,452,036 $1,207,076 $1,318,180 $1,294,955 



The balance sheet of the Cuba Railroad Companj^ as of June 30, 1910, compares as 

 follows : 



Assets 



1910 1909 1908 



Cost of road and equipment .... $29,512,874 $25,569,791 $24,686,540 



Material and suppHes 676,855 404,137 362,100 



Treasury bonds 100,000 



Current assets 775,739 1,014,560 913,899 



1907 

 $23,637,287 

 411,633 



739,967 



Total $30,965,468 $26,988,488 $26,062,539 $24,788,887 



Liabilities 



1910 1909 1908 



Preferred stock $10,000,000 $10,000,000 $17,787,999 



Freight $10,000,000 



Common stock 6,126,000 6,126,000 6,126,000 



Bonds 11,310,000 8,399,000 7,843,000 



Current liabilities 1,184,487 340,614 343,304 



Def. and susp. liabilities 319,599 478,790 656,949 



L. surplus 2,052,383 1,644,085 1,093,286 



$12 



$10 



6 



6,7 



1907 

 333,338 

 000,000 

 126,000 

 799,000 

 362,973 

 802,882 

 698,032 



Total $30,965,468 $26,988,488 $26,062,539 $24,788,887 



The Fernandez and Placetas del Sur Rail- 

 road Company, a French concern, will 

 shortly receive a franchise to build a line 

 which will unite those two towns, says La 

 Lucha. The franchise, duly authorized by 

 a Presidential decree, will be granted for 

 seventy-five years and a subsidy of about 

 $8,000 a mile will be allowed to the con- 

 structing firm. 



The good showing of the earnings of the 

 United Raiways for the past few months 

 is the more significant when it is con- 

 sidered that fares on the roads of the 

 company have been considerably reduced. 

 The traffic response to the reduction was 

 immediate and earnings materially in- 

 creased. There has not been a propor- 

 tionate increase in operating expenses. 



