26 THE CUB A RE J lEW 



is being cleared from the bonded warehouses and sold in Cuba, and a few shipments 

 are still trickling back to their original ports of shipment. A number of the private 

 bonded warehouses will probably be closed before next summer. The Cuban authorities 

 have maintained throughout a most helpful attitude in extricating American shippers 

 from their difficulties, and, upon the request of the American parties at interest, 

 have frequently desisted from making auction sales of specific shipments. 



New Construction Projects 



Work on the following important new construction projects is being pushed 

 forward at a normal pace: The warehouse, terminal, and three piers at Nuevitas; a 

 pier at Santiago; the Santa Clara Pier of the port of Habana docks at Habana; 

 the Ward Line terminal at Habana; the new yacht club building at Marianao, near 

 Habana; and a large number of residences and several office buildings at Habana. 

 The contract for the construction of the new Sevilla-Biltmore Hotel, which will front 

 on the Prado and adjoin the present Sevilla Hotel building, has just been awarded 

 to a Cuban concern, Arellano y Mendoza (Amargura 23, Habana). This contract 

 involves an outlay of over $1,000,000. The new building must be completed in 10 

 months. 



Lumber Stocks Short 



During the past six months imports of lumber have not been keeping pace with 

 consumption, and at present the stocks here are reported to be very low. Some of 

 the largest dealers report that they now have only about two or three weeks' supply 

 on hand, whereas in normal times they carry much larger stocks. Practically none 

 of the lumber which was caught at the time of the financial crash now remains in 

 stock. In view of the continued activity in the building trade, the present prospects 

 are that imports will be considerable — more than the normal average — during the 

 next few months. Our attention is called to a number of orders for lumber which 

 the merchants in Cuba placed in the United States in October and November, but 

 which have not been filled. The reluctance of American exporters of lumber to make 

 sales on terms of credit or even to finance shipments for payment upon delivery 

 probably dates from 1920, when there was a total of some 12,000,000 feet of rejected 

 lumber in Habana. 



Improvement in Paper Trade 



During the past four months there has been a very marked improvement in 

 the paper trade. In fact, the sales are believed to be about double what they were 

 last spring. At the time of the financial collapse in 1920 many of the printing 

 establishments were overstocked with paper. These stocks had become entirely 

 exhausted by last fall, and since that time there has been a healthy revival in imports. 

 Practically all of the paper used now in Cuba is being imported from the United 

 States. Not more than 10 per cent is coming from other sources, such as Norway, 

 Sweden, and Germany. A small quantity of high-grade ledger paper is coming from Eng- 

 land. While paper dealers in Habana and American exporters are exhibiting discrimination 

 in making their credit terms, it is a fact that most reliable printing establishments, retailers^ 

 etc., can now obtain without any difficulty from 30 to 60 days' credit. 



Automobile Trade Improved 



Trade in the higher-priced automobiles has been surprisingly active during the 

 months of December and January. The reported number of cars sold is higher 

 than during any previous two-month period since the crash of 1920. Collections 

 on outstanding accounts are reported somewhat better than they have been for many 

 months. 



