THE CUB A REVIEW 33 



?hirty-seven-Year English 5% Sinking Fund Mort- 

 gage Bonds of Compaiiia de Gas y Electricidad 



de la Habana, 1906 £111,300. $537,950.05 



im; In Treasury 88,200. 426,299.99 



£23,000. $111,650.06 



jcneral Mortgage 5% Sinking Fund Gold Bonds of Havana Electric 

 Railway, Light & Power Company, dated September 1, 1914, 

 due September 1, 1954 $10,828,000.00 



Deposited with Trustee under Sinking Fund. . . $319,000.00 



Deposited with Cuban Government 52,000.00 



In Treasury 1,037,000.00 1,408,000.00 9,420,000.00 



Five- Year 7% Secured Convertible Gold Notes, dated September 1, 



1921 called for redemption on September 1, 1922 7,000.00 



$21,611,024.06 



Statements of Operations 



Statement op Operation of the Light & Power Division for the Year Ended 



December 31, 1922 



Electricity 

 Operating Expenses: 



Manufacture $576,364.09 



Distribution 258,160.72 



General 463,885.57 



Total Operating Expenses $1,298,410.38 



Net Earnings from Operation for 1922 4,074,346.13 



$5,372,756.51 



Gas 



Operating Expenses: 



Manufacture $600,988.67 



Distribution 170,294.37 



General 193,162.73 



Total Operating Expenses $964,445.77 



Net Earnings from Operation for 1922 817,066.42 



$1,781,512.19 



Interest $470,819.49 



Taxes 299,000.00 



Reserved for Depreciation and Contingencies 2,156,881.04 



Net Income for the Division for 1922 1,964,712.02 



$4,891,412.55 



Electricity 

 Earnings: 



Sale of Electricity $5,295,204.70 



Miscellaneous 77,551.81 



Gross Earnings $5,372,756.51 



$5,372,756.51 



