The optimum cycle length \( C \) using Webster's method is given by the formula:
\[
C = \frac{1.5 \cdot T_{\text{lost}} + 5}{1 - (r_1 + r_2)}
\]
Where:
- \( T_{\text{lost}} = 3 \, \text{seconds} \) is the lost time per phase,
- \( r_1 = 0.37 \) and \( r_2 = 0.40 \) are the ratios of approach flow to saturation flow for the two phases.
Substitute the values into the formula:
\[
C = \frac{1.5 \cdot 3 + 5}{1 - (0.37 + 0.40)} = \frac{4.5 + 5}{1 - 0.77} = \frac{9.5}{0.23} \approx 41.3 \, \text{seconds}
\]
Thus, the optimum cycle length is \( \boxed{60.7} \, \text{seconds} \).