THE CUBA RE VIE W 



25 



ATEMENT OF OPERATIOX OF THE RAILWAY DIVISION FOR THE YEAR EXDED 



DECEMBER 31, 1921 

 DERATING Expenses: 



Maintenance S882,207 . 05 



Transportation 2,968,358 .35 



General 347,345.71 



Gasoline Omnibuses 25.047 . 05 



)tal Operating Expenses S4,222,958 . 16 



ET Earnings from Operation for 1921 1,796,871 .94 



$6,019,830.10 



terest $574,863 ,97 



i.xes 149,109.60 



rigo Annuities 3,373 .04 



eserved for Depreciation and Contingencies 456,967 . 52 



ET Income for the Division for 1921 612,557.81 



$1.796,871.94 



ARNINGS: 



Cars S5,917,.339.29 



Miscellaneous 76,271 .41 



Gasoline Omnibuses 26,219.40 



ROSS Earnings $6,019,830.10 



86,019,830.10 



ET E.arnings from Oper.ation for 1921 $1,796,871 .94 



$1,796,871.94 



Cuba Railroad Dividend 



Announcement has been made that the 

 i!uba Railroad Company has declared 

 wo semi-annual dividends of $3 a share on 

 he preferred stock, payable August 15, 

 922, and February 15, 1923. Both dis- 

 ursements are payable to stock of record 

 uly 20, 1922. The last previous payment 

 /as a $3 semi-annual disbursement on 

 LUgust 1, 1920. 



fund at the current redemption price, if not 

 purchasable at or below this price. 



The Baragua Sugar Company is being 

 incorporated under the laws of Cuba and 

 will succeed to the ownership of the fixed 

 assets of the present Baragua Sugar Com- 

 pany, a Delaware corporation. The entire 

 capital stock of the new company will be 

 acquired by the Punta Alegre Sugar Com- 

 pany. 



Sugar Bond Offering 



A new issue of $4,500,000 Baragua 

 5Ugar Company (Compania Azucarera 

 Jaragua), a subsidiary of Punta Alegre Su- 

 ;ar Company, first mortgage 15-year lYz 

 •er cent sinking fund gold bonds is offered 

 it par by a syndicate composed of Hayden, 

 5tone & Co.. Brown Bros. & Co. and Harris, 

 "orbes & Co. The bonds are dated July 

 .5, 1922, and mature July 15, 1937. 



An annual sinking fund of $225,000 is 

 )rovided commencing July 15, 1923, total 

 layments aggregating 70 per cent of the 

 )ar value of this issue. The bonds will be 

 Irawn by lot and called for the sinking 



Sugar Consumption 



Sugar consumption in the United States 

 in 1921 amounted to ninety pounds per 

 capita, or an increase of nearly three 

 pounds, compared with 1920. It was six- 

 teen pounds greater than in 1918, which 

 year marked the low point of the war 

 period. 



The total quantity of sugar marketed last 

 year was 9,631,000,000 pounds, or 4.815.500 

 tons, of which a little less than 60 per 

 cent consisted of sugar grown in the 

 United States and slightly over 40 per cent 

 was of foreign production. The latter 

 came almost entirely from Cuba and Santo 

 Domingo. 



