. The Cuba review. THE CUBA RE\MEW 23 the buyers, tlie bid is made on a slip of paper, which is handed to the owner. The buyer whose paper shows the highest bid gets the goods. The best sponges usually command $ per ])ound, while the infe- rior grades bring about 20 cents per pound. The total output from this port is about one million pounds per year, and the income in the immediate vicinity of half a million dollars for the same. If this industry was properly conducted it could be very materially enlarged, as the sponge is a form of animal life that can easily be ; the pro
. The Cuba review. THE CUBA RE\MEW 23 the buyers, tlie bid is made on a slip of paper, which is handed to the owner. The buyer whose paper shows the highest bid gets the goods. The best sponges usually command $ per ])ound, while the infe- rior grades bring about 20 cents per pound. The total output from this port is about one million pounds per year, and the income in the immediate vicinity of half a million dollars for the same. If this industry was properly conducted it could be very materially enlarged, as the sponge is a form of animal life that can easily be ; the project, and that the mill will have a capacity of sacks. The Cuban House on May 5th approved the Pardo Suarez bill, the time for sponge fishing on the Cuban coast un- til I\Iay 30th. This measure is the result of a petition made by Batabano sponge traders who claim that all their catches of the last season were carried away by the cyclone which visited the island last j^ear, and they are prohibited by law to fish after May 1st. The bill was amended so as to include all of the island and sent to the Senate. AN IMPORTANT DEAL CLOSED The president of the Company of Cuban Ports. Mr. T. L. Huston, recently received the following cable: "Closed for a loan of six million dol- lars with important banking houses of this city, in favorable ccjnditions for the company. ; According to what was published by La Lucha not long ago, Mr. Xorman H. Da- vis, vice-president of the Trust Company of Cuba, went to the United States and to England to effect this loan. Part of it has been placed in banks, and the other part, to which we re- fer, in England. Another sugar mill to be ready for the crop of 1913 is spoken of for Camaguey Province in the neighborhood of Florida, on the line of the Cuba Railroad. It is said that an American svndicate is back of OVERPRODUCTION ANTICIPATED English dealers and brokers who have recently returned from the western part of
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