. The Cuba review. 20 THE CUBA RE VI E W RAILROADS AND FINANCIAL. Report of the Cuba Company—Earnings of the United Railways of Havana, the Havana Electric Co., Etc. Cuba Railroad Annual Report. In the annual report of the Cuba Railroad Company to June 30, 1908, the gross earn- ings were reported as $2,039,, the operating expenses as $1,318,, and the net earnings as $721, The surplus was $1,093, Sir W. C. Van Home, president of the company, says in his report: "The year was an unfavorable one for business in Cuba, owing mainly to the seri- ous shortage in the sug
. The Cuba review. 20 THE CUBA RE VI E W RAILROADS AND FINANCIAL. Report of the Cuba Company—Earnings of the United Railways of Havana, the Havana Electric Co., Etc. Cuba Railroad Annual Report. In the annual report of the Cuba Railroad Company to June 30, 1908, the gross earn- ings were reported as $2,039,, the operating expenses as $1,318,, and the net earnings as $721, The surplus was $1,093, Sir W. C. Van Home, president of the company, says in his report: "The year was an unfavorable one for business in Cuba, owing mainly to the seri- ous shortage in the sugar crop, resulting from the drought of a year ago—a shortage of more than five hundred thousand tons as compared with the preceding crop. The natural effect of this heavy loss in Cuba's chief product was aggravated by the finan- cial conditions which prevailed in the world during the year and which added to the difficulties of the planters by cutting off their usual sources of money for the har- vesting and handling of their crops. The direct losses fell chiefly upon the western and older half of the island, but all of Cuba was affected by the scarcity of money and the withholding of usual credits. In these circumstances your directors have much gratification in being able to report in- creases, although small, in earnings and profits. The districts served by your rail- way suffered but little from last year's drought and the growing crops at the pres- ent time are most promising. The cultiva- tion of the lands in the vicinity of the rail- way is constantly extending, and the new towns are growing ; Santiago de las Vegas, in Pinar del Rio province, on the line of the Western Rail- ways, will have a new concrete station, 25 X 90 feet, soon. The railway company intends to erect many more such stations, and it has installed at its Cristina yards a plant for making concrete blocks. New stations will also be built at Can- dielaria and San Cristobal. September Havana
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