THE CUBA REVIEW 23 



Less : 



Deposited with Trustee under Sinking 



Fund 8197,000.00 



Deposited with Cuban Government 52,000.00 



Deposited with Trustee as security for 

 Five-Year 7% Secured Convertible Gold 

 Notes dated September 1, 1921, due 



September 1, 1926 3,000,000.00 



In Treasury 103,000.00 $3,352,000.00 §5,845,000.00 



Five-Year 7% Secured Convertible Gold Notes, 

 dated September 1, 1921, due September 1, 1926 1,500,000.00 



519,963,290.72 



CONDENSED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 



31, 1921 



Railway Light & Power 



Department Department Total 



Gross Earnings from Operation $6,019,830. 10 §6,862,822.46 S12.882.652. 56 



Operating Expenses 4,222,958 . 16 2,600,902 .85 6,823.861 .01 



$1,796,871.94 $4,261,919.61 86.058,791.55 



Deduct: 



Taxes, U.S. A $51,509.60 $57,000.00 $108,509.60 



Taxes, Cuba 97,600.00 343,000.00 440.600.00 



Trigo Annuities 3,373.04 3,373.04 



Interest 574,863.97 434,147.36 1.009,011.33 



$727,346.61 $834,147.36 $1,561,493.97 



1,069,525.33 $3,427,772.25 84,497,297.58 



Deduct: 



Reserve for Depreciation $385,710.30 $1,238,168.46 81,623,878.76 



Reserve for Contingencies 71,257.22 228,742.78 300,000.00 



$456,967.52 $1,466,911.24 81.923.878.76 



$612,557.81 $1,960,861.01 82,573,418.82 



Add Miscellaneous Income: 



Interest on Deposits 836.234 . 42 



Income from Securities 6,309 . 98 



Rents 40.432.11 



Other Miscellaneous Income 39,790.05 



S122.766.56 



$2,696, 185.. 38 



Deduct: 



Miscellaneous Accounts written off, net 897,446.21 



Amortization of Discount and Expenses on Funded Debt 36,229.70 



Provision for Sinking Fund of English 5% Mortgage Bonds of 



Compania de Gas y Electricidad de la Habana 14,983 . 34 



Provision for Sinking Fund of Consolidated Mortgage 5% Gold 



Bonds of Havana Electric Railway Company 125,861 .83 



Provision for Sinking Fund of General Mortgage 5% Sinking Fund 



Gold Bonds of Havana Electric Railway, Light & Power Company 1 14,943 . 76 389.464 . 84 



Net Profit for the Year 82,306,720 . 54 



Balance at Credit of Profit & Loss Account, January 1, 1921 3,629,898 . 76 



$5,936,619.30 



