THE CUBA REVIEW 



The Prevailing Prices for Cuban Securities 



As quoted b\ Laurence Tuniure ^ Co., Xru York 



Bid 



Republic of Cuba Interior Loan 5% Bonds 83 



Republic of Cuba Exterior Loan 5^0 Bonds of 1944 97 



Republic of Cuba Exterior Loan 5% Bonds of 1949 913^2 



Republic of Cuba Exterior Loan 41-2% Bonds of 1949 86Ji 



Havana City First Mortgage 6% Bonds 98 



Havana City Second Mortgage 6% Bonds 82 



Cuba Railroad Preferred Stock 70 



Cuba Railroad First Mortgage 5% Bonds of 1952 833^ 



Cuba Company 6% Debenture Bonds 83 



Cuba Company 7% Cumulative Preferred Stock 83 



Ha\ana Electric Railway Co. Consolidated Mortgage 5% Bonds "93 J^ 



Havana Electric Railway Light & Power Co. Preferred Stock 99^^ 



Havana Electric Railway Light & Power Co. Common Stock 83 



Cuban American Sugar Co. Preferred Stock 94J^ 



Cuban American Sugar Co. Common Stock 28J/2 



Guantanamo Sugar Co. Stock 5^^ 



Asked 

 86 



102 

 98 

 76 



84^8 



90 

 100 



93ys 

 lOOM 



88 



951^ 



29 

 6 



Cuba Cane Pays Loan 



Payment of the S7. 500.000 bank loan, 

 continued for one year from an original 

 loan of SlO.OOO.OOO. was announced by the 

 Cuba Cane Sugar Corporation on October 

 1. the date on which the loan matured. 

 .\t the same time the directors of the com- 

 pany announced that the subordination of 

 the 8 per cent debentures has been ter- 

 minated, and that these now enjoy the same 

 position in point of security as the 7 per 

 cent debentures. They will continue to 

 bear interest at 8 per cent until their 

 maturity on January 1, 1930. 



Pending the final closing and auditing of 

 the books, earnings of the company for 

 the year which ended September 50 are 

 estimated at approximately $12,000,000. 

 before payment of interest and taxes and 

 deduction of reserves. 



Production of the company in the past 

 crop totalled 3.284.731 bags of sugar, it 

 is announced, all of which has been sold 

 at an average price of 4.69 cents a pound 

 f. o. b. Cuba, equivalent to about 4.84 cents 

 c. & f. New York. 



Francisco Sugar Company's Report 



The annual statement of the Francisco 

 Sugar Company for the fiscal year ended 

 June 30, 1923. shows total income of S2.- 

 492.715, which compares with $1,056,068 

 for the previous fiscal year. Total in- 

 terest and discount charges were $542,512. 



After charging a liberal amount for de- 

 preciation and allowing for reserves on 

 coionos" accounts and for United States and 

 Cuban income taxes the company reported 

 a net profit for the year, available for divi- 

 dends, of $1,091,606. Dividend disburse- 

 ments for the year ended June 30, 1923, 

 amounted to only $100,000. so that there 

 was a balance of $901,696. which was re- 

 invested in the company. 



The company's production for the year 

 aggregated 606.033 bags of sugar, the 

 largest in its history. 



The report says that satisfactory prices 

 were obtained, the average price received 

 for sugar sold being 4.58 cents cost and 

 freight per pound. 



Ecuador Allows Export 



Sugar producers of Ecuador are now- 

 permitted to export 25 per cent, of their 

 monthly production under an executive de- 

 cree effective July 12. Export licenses 

 must still be obtained from the Minister of 

 Finance, as under the previous decree of 

 March 8. which prohibited export except 

 bv license. 



Barbed Wire for Cuba 



It is reported that imports of barbed wire 

 in the territory around Matanzas, Cuba, 

 during the first six months of 1923 were 

 three times greater than during the entire 

 year of 1922. Wire fence, moreover, is 

 replacing the stone fences formerly used in 

 Cuba. 



