THE CUBA REVIEW 



Havana Correspondence 



Havana, July 18, 1923. 



Sugar: At the present writing but four mills are still in operation, all located in 

 Oriente Province. Most of the mills are taking advantage of the opportunity to make 

 repairs and improvements, and considerable work of this nature is being done at prac- 

 tically every Central on the Island. 



Himely's revised estimate of the crop, places the outturn at 3,608,797 tons, which 

 is somewhat under the estimate previously given out and much lower than was generally 

 expected some few months ago. Of this output, it is estimated that there are about 

 900,000 tons still to be shipped. 



Financial Matters: After several days' discussion, the Budget Bill covering ap- 

 propriations for the various governmental departments for the fiscal year 1923-1924 was 

 finally passed by the House of Representatives, but as yet has not been ratified by the 

 Senate. A number of increases in salaries of government officials is contemplated by the 

 new budget and many new positions have been created. Expenses for the upkeep of the 

 presidential palace have been cut down to $540,000.00, which is almost twice as much 

 as is allowed the White House in Washington for similar expenses. 



The Bank Liquidation Committee has made its final report on the banking firm of 

 J. A. Bances & Co., but those of several other banks in liquidation are still to be re- 

 ported. In the case of the Bances concern, the institution has been ordered permanently 

 closed, and it is reported that the creditors of the Bank will not receive anything. 



Claims against the Government in the amount of $7,853,025.61 have been turned 

 down by the Commission appointed for the purpose of examining these bills presented 

 for payment, the amount in question having been considered by them as comprising over- 

 charges or accounts which should not have been presented for payment. The Commis- 

 sion states that bills against the Government in the amount of $45,150,675.00 have been 

 presented. 



It has been announced that the Boston Federal Reserve Bank will take over the 

 banking rooms of the former Gomez Mena Bank, which bank was recently merged 

 with the Royal Bank of Canada. The Havana Branch of the Boston Federal Reserve 

 Bank will be in charge of Mr. C. C. BuUen, Vice-Governor of the latter institution. 

 The establishment of the bank is primarily the result of the suggestion of Governor 

 Harding of the Federal Reserve Board, at the time he was acting as consultant on 

 financial problems to the Cuban Government some months ago. Governor Harding ex- 

 pressed his opinion at the time that a branch of the Federal Reserve Bank in Cuba 

 would assist greatly in facihtating banking and commercial transactions between the 

 two countries. As the result of the contention of the Atlanta Reserve Bank that Cuba 

 was in its territory, it was finally decided by the Board that both the Boston and the 

 Atlanta Branches be permitted to operate in Cuba. 



General News Item 



Cuba to Be Represented at Canadian Exposition: Exhibits showing progress 

 made by the Island of Cuba in the fields of Agriculture, Horticulture and Manufacturing, 

 will be prepared and sent to the Toronto, Canada, Exposition. 



Havana Park Reopens with Many New Attractions: After being closed for 

 three months, during which time many new and novel attractions have been built, 

 Havana Park was reopened on July 11th for the summer season. Various novelties 

 and attractions have been brought from the States, which attracted large throngs of 

 people on opening night. 



Key West Girl Scouts Entertained in Havana: From the time they were met 

 at the Arsenal Wharf by a military band until departing on the S. S. "Cuba" a few 

 days later, life was a series of entertainments for the visiting Girl Scouts from Key 



