Industrial Cuba : being a study of present commercial and industrial conditions with suggestions as to the opportunities presented in the island for American capital, enterprise and labour . r, and the total obligations of the city at that timewill probably be about $12,500,000. The mortgage for the loan of 1889 to the Spanish Bankis a document of 158 printed pages, including the recites that in 1877 the city borrowed from the SpanishBank a sum of money which, together with its interest,amounted in 1889 to $3,177,; that the city was inarrears for interest and sinking fund, and t
Industrial Cuba : being a study of present commercial and industrial conditions with suggestions as to the opportunities presented in the island for American capital, enterprise and labour . r, and the total obligations of the city at that timewill probably be about $12,500,000. The mortgage for the loan of 1889 to the Spanish Bankis a document of 158 printed pages, including the recites that in 1877 the city borrowed from the SpanishBank a sum of money which, together with its interest,amounted in 1889 to $3,177,; that the city was inarrears for interest and sinking fund, and that lawsuits havebeen in progress to compel the city to pay; that the cityalso desired funds for the completing the water-works andother purposes, and it was finally agreed that the city wouldissue $6,500,000 6 per cent, fifty-year bonds for the purposeof taking up the existing debt and completing the water-works, the expense of which was estimated at $1,850,000;and that the balance of the loan, which was taken at 90,was to be turned over to the city for general was a further provision that the loan might be in-creased to $7,000,000 in case the city found it necessary,. Municipal Problems in Havana 181 and this was done. The sinking fund provides for with-drawal by lot and payment of a certain number of bondsevery three months during the fifty years, the amount atthe end of the first quarter being $5000 and the last quarter$100,000. As security for the loan the city gave a firstmortgage on the following property: Canal de Vento, valued at $5,030,000 The aqueduct of Fernando VII., valued at 153,000 The Cristina market, valued at 103,000 The Tacon market, valued at 960,000 The Colon market, valued at 304,000 Making a total of $6,550,000 together with all revenues and receipts from them duringthe period of the loan. In addition the municipality mort-gaged as further security upward of fifty houses which itowns in various sections of the city. The amount of thisloan
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Keywords: ., bo, bookcentury1800, bookdecade1890, bookidindustrialcubabe00port
