T H E C U B A R E \M E \V 



FINANCIAL AND RAILROAD NEWS 



THE CUBAN TREASURY REPORT — NEW RAILWAY" ENTERPRISES — A 



GREAT RAILWAY STATION 



Bank's Employees Form Class 



That the Cuban chapter of the American 

 Institute of Banking is an educational fac- 

 tor in Cuba is shown by the opening of a 

 school recently for the study of English 

 at its headquarters in the National Bank of 

 Cuba Building in Havana. 



The officers of the bank have encour- 

 aged the work and provided a suitable of- 

 fice for the sessions which began last 

 month under the direction of W. H. Mo- 

 rales, the secretary of the bank. 



The membership is recruited largely 

 from the ranks of the employees, and as 

 their usefulness and subsequent promotion 

 depend in some measure on their ability 

 to handle foreign business in English, the 

 new class wnll be of great help to that end. 

 The need of a class to study English has 

 long been recognized. 



A subvention has been granted the Cuba 

 Railway for the construction of a line be- 

 tween Sagua la Grande and Corrallijo, 

 passing through Rancho Veloz, Santa 

 Clara Province. This subvention is made 

 in accordance with an act of congress, 

 known as the law of July 5, 1906. The 

 work will begin at Caguaguas. 



The Cuban Treasury 



The revenues and expenses of the Cuban 

 government during the month of Novem- 

 ber are officially given out as follows : 



Balance on Oct. 31 $1,849,327.24 



All revenues during the month 



of November 3,602,275.75 



In the hands of collectors.. 182,285.95 



$5,633,889.09 

 Paid out during the month.. $3,682,016.11 



Balance on hand $1,951,872.98 



The new branch of the National Bank 

 of Cuba in Cardenas was opened Novem- 

 ber 19th. The mayor and many represen- 

 tative business men of this city were pres- 

 ent at the ceremonies. 



From figures obtained at the Mobile cus- 

 toms house December 7th regarding the 

 value of exports to Cuba for this year, the 

 following statistics are given : New York, 

 $24,948,443; Mobile, $8,376,367; New Or- 

 leans, $2,924,228; Galveston, $2,704,049. 



A (ireat Railway Station 



Work on the new $3,000,000 railway sta- 

 tion in Havana will begin early next rnonth. 

 The building of three wharves and a 

 crematory, as stipulated with the Cuban 

 government, will cost $1,000,000. The first 

 consignment of material and four hundred 

 cars will soon arrive from New York. 



From sources outside of the company it 

 is learned that the American government 

 has been satisfied that American interests 

 m Cuba are guaranteed in this deal. A 

 corporation registered in the United States 

 IS to be formed to carry on the business 

 of the company. — New York Herald. 



Subsidy to Cienfuegos Railroad 



The president on December 13th signed a 

 decree authorizing a contract with the Cien- 

 fuegos, Palmira and Cruces Railway and 

 Power Company, granting the privileges of 

 the railroad subsidy act of July 5, 1906. 



Under the contract, which was legalized 

 at the palace on the same dav, the presi- 

 dent on one part, and Hugh Reilly on the 

 other, the Cienfuegos, Palmira and Cruces 

 Railway and Power Company agrees to 

 build a branch line from Caonao to the sta- 

 tion at Mayari (Santa Clara), and a second 

 line from Caonao to Cruces. 



The railway will receive $5,000 for each 

 kilometer of line built. 



A New Road 



The Cuban Railroad Company is soon to 

 begin work of laying a new road from 

 Mamcarauga to Fomento, in Santa Clara 

 Province, which will give transportation to 

 the cane growers in that country. The 

 franchise for building the road has re- 

 cently been granted by the government and 

 the terms stipulate that the work must be- 

 gin within two years. 



The road may possibly be opened up for 

 traffic inside of a year. 



The October hurricane caused a loss of 

 $25,000 to the repair shops of the Western 

 Railway of Havana in the city of Pinar del 

 Rio. The buildings were parctically ruined. 

 The work of replacing the shops is under 

 way and will be completed b.v February. 

 Bridges of the railroad withstood the severe 

 blow, and but little of the rolling stock 

 was injured. 



