Show NEW CABLE tl J E TO C CUBA BA Annual of Companies in IlL il ton Bo-ton n tl Shows Slums Progress ItC Boston Feb 15 The rhe The annual meeting meet meet- lug ing of the shareholders r of or tho the Macl Mackay ay companies WitS was held lucId at Boston today tolay nud th the number lumber of trustees was increased increased in- in creased from five to seven eVI the present five tru trustees ti tees Clarence H. H Mackay William llam W. W Cook Gor George e C C. W. W C. C i. i Dumont Clarke and Edward Edwar C. C Plat Plait were re The flue fH two new trustees elected are arc Pliny Fisk Fisl who f j is at It the heal head I of the banking house of 0 f Harvey ey Fik Fisk Filk and Sons Soils New Iw York and d' d H R. R A. A Smith who Is a member u of th the I hanl banking ng house of Osier Osler and Hammond Hammon 4 Toronto Canada V V trustees of t the e et ft V The annual report o of Mackay V companies wis was l Issued today tOlla V t The rue state that V V Ing lug these days of or money borrowing money k V d mortgage giving they are aro alo again I t iI able ablo to announce that the Mackay r 1 V V company has no debts The outstanding outstanding out out- stun standing shares are arc preferred pre- pre c. c r V and common During Dur- Dur Durr r r. r f lug ing the tho past Imst year eal 3 G 1400 0 preferred V c V shares shans have havo he been licen n issued In exchange c 1 t for stocks of or corporations which in II at addition lon to lo strengthening the position V of the he he Mackay companies pay as us V V or mO more dividends s than the corre corresponding corresponding cor cor- dividends paid In Mackay i re responding s palL I V company preferred shares shares o V The Commercial Pacific Cable company com corn pany Ilmy during the year yer l 1006 1305 Of laid sub aub- HUt HUt- V marine cables to lo China Chinn and amI Japan Tapan and andr r those cables are now in complete V w order orter The Tho ho land line lino system Ss S's V V tern tem ter the Postal telegraphy Is being V extended ed and al also alo o shows lUal V V increased gro gross receipts and net nel profit It V over o the previous rII year ear earOn On December C C. G. G th the forty- forty V V year car monopoly of or all al t telegraphic and l a cable bu between Cuba Cuba and tic tue V V United Slates granted h by the Ii In I GG to th the International Interim Interim- Ocean Telegraph compa company compary y and andI I later acquired by ty tho Ihy Union com company puny came caine to an nit end V V b by the expiration of the forty Corty y years V states that the trustees L The fhe report stalls tl deeming it I Important that that part of tho the world s should also 11 0 be i reached cached j b by the cable and amI system ap- ap V V piled to the tho American governor In Inchan I charge chan o of provisional government government of or for the time Cuba for the usual permit VV V landing and operation of a n. submarine V cath cable between H the two u t countries and V sch permit haa ha jus just t been granted V The Tho tru trustees lee have lu e decided to lay a aV cable direct from Now New V submarine V York t to Havana ala 11 thereby giving a a. three minute s service a as against against an average av av- av- av roge thirty minute service The en- en V V tire lire cost of this tiL Important exten extension lon to Cuba Cuha cst will wU be bo paid out of oC current V V profit |