' 'ft
m
EVENING PUBLIC LEDGER-PHILADELPHIA, THURSDAY,. DECEMBER 20, 1915
IS
, S rt-T
I IV
SB0WS OPENINGS
BifOREIGN FIELDS
rtl
I
p.tJ 5, Commerce Bureau
i ,, Issues Report on Lutin-
1 American Countries
MANY OPPORTUNITIES
Government Expert Tells in
Detail of Chances for In
vestment of Capital
,Tha growing- appreciation of tlio Im
portance of foreign Investments ns n
factor' In developing' trade has led the
bureau of foreign nnd domestic com
merce to Issue n report outlining the
Investment situation In all Latin-American
countries nnd the British West
Indies, It Is conceded that the willing
ness of foreign capitalists to nsslst In
tho development of n country's resources
creates a favorable nttltude on the part
tot that country's citizens and a recptlv
Hy toward other business proposals.
Beforo the war the commanding position
of European nations In certain Latin
American markets was due In large
. measure to their great Investments
(here.
According" to the new report the
continent of South America, containing
as It does extensive area's of undeveloped
Bnd partly deitoped territories hn
proved a magnet for the Investment
of considerable amounts of foreign
capital, a rent Britain, France. Ger
mnr, Belgium, the Netherlands and to
1... vUn( n.1iqnQ fh lnttpd States.
have Investigated opportunities in the
southern continent nnd have successfully
developed railways and public utilities.
mines ana manuracturrs. inras mm
cattle ranches, have purchased fiovern
ment, Stato and municipal bonds nnd
have otherwise made Investments in tho
field. It Is n matter of some Interest
(and perhaps significance) that Great
Britain during the several months pre
ceding the outbreak of the great Euro
pean war placed larger sums In Argen
tina than In the United Rtate
The outbreak of the war In 19t4
brought about an Immediate change of
conditions In the Huropean Investment
markets. The conservation of the re
sources of the various warring countries
and their neighbors immediately stopped
the exportation of capital from Hurope.
and the Latin republics became depend
ent on the Vnltcd States for their needs
financially.
Investment of American Capital
Before the war the Interests of the
1,'nlted States In South America, other
than in mines and the packing Industry.
were negligible During tho lull thaf
followed tile closing of the various stock
exchanges much Attention was given to
Latin-America, and the first steps were
taken to Interest American bankers In
tba opportunities presented in that field.
During the early months of 1915 n loan
was made to Argentina by American In
restment houses, nnd the bonds were
publicly offered with success.
Other loans followed this one, and a
number of shares In railways in Argen
tina were purchased by Investors throusvh
London. Two Khort-term note Issues of
South American railways were after
ward floated In the United States, these
being obligations of the Antofagnsta
(Chile) and Bolivia Hallway ($3,000.-
000)i na ine . enirai rKemine Jtail--WAX
($15,000,000). Other Investments
(largely In mining ecurltles) were made,
Including bond Jssues of tho Cerro de
Pasco mines, the Chile Copper Company
and the Uraden Capper Company, oper
ating In Peru (Cerro do Pasco Mining"
Company) and In Chile. Theso three
great mining properties, developed
through the Investment of American enp
Hal, havo become the greatest mining
properties In South America nnd rank
amonir tho most Important copper pro
ducers In tho world,
American Interests hnvo also turned
their attention to developing tho petrol
eum resources of Venezuela, Colombia
nnd Peru, as well as tho nitrate fields
of Chile, the mangnnese deposits of
Brnzll nnd other forms of enterprise.
Concerning the undeveloped wealth of
tho various South Amcrlcnn countries, It
may bo said that mineral exists In all
tho republics, that tho forest resources
of nil, except possibly Uruguay, arc
Very extensive: that oil deposits have
been found In nlmost every country
nnd nrc worked commercially in Argen
tina, Colombia, Chile, lCcundor, Peru and
Venezuela, and that there are lands
available for the raising of livestock
nnd for agricultural purposes. Although
public utilities have been developed to
n considerable extent, tho vast nmount
of water power ovnllnblj assures a fu
ture of greater importance for this field
of enterprise.
llrltluli Investments
Great Britain has long been the larg
est Investor In South America. The fol
lowing table Indicates the approximate
amount placed by that country In the
vnrlous Latin American nations nnd In
tho West Indian Islands. The figures
ns submitted are said to be conserva
tive class ok sncntiTircs
Oovornmontal Stnte nnd mil-
nlclp.i 1 Id. in- . $1,371 970 T,0n
Itnllwitv flefuritlrs fllork. -
lMnture, rte. . . . . 2 3"i0 r.19 ROD
InriuHiriHl, Inn.i timber oil.
liRhiinB. ttc . . . i :n-.sno.nnn
publics. Tho Investments In Argentina
Include three rnllwny lines with a mile
ngo of approximately 2500, Government
bonds, bnnks, etc. Tho French have
mads loans from time to time to Bolivia,
hold Interests In mines, nnd have other
wise made Investments In that republic,
French engineers nrc nt present building
a section of the railway link to connect
the highlands of Bolivia with the rail
ways of Argentlnn. The public utility
enterprises of Ln Paz, the cnpltal, nre
under Frctjch ownership and management.
Total .... .. $.".lNT.UN0.0im
' DlSTnillfVlO.V Of INVKSTMBNTS
' Arci-ntlna St.h7.A.1.Vnno
iJIrnzll l.lig.'jR.'.OOl)
Chile
1'ruBuav
Peru . . .
VvnpzuHa .
Colombia .
Hollvln
Paraguay .
Krundor .
GuiAnua . .
Total. .South America.
Mexico
Cuba ....
Oimtemnlii
Costa Itlra ...
HonrfuriiB . .
Nicaragua
Santo Domingo and Haitt
nrltlMh Honduras
Porto nico
.l4ii.n.".",noii
.'4.1. .' I.IHMI
l 'j I. mis. nun
3.no.-,,30ti
31 r.TR.ono
lT.r.tiMoo
1 4 r.(i r.rm
l.i. win, son
8.750.700
J3 s,n.nt..ino
"os.mn.onn
ssu.mis Hon
r,i,iiiH.''oo
S'.MIR 001)
l.l.iwi.snn
r sin.Ron
n.4nii.."nn
1 400.nnn
2.010.000
, Totnl, Mexico. Central Amor
lei and Latin West Indies 11 130 7.14 .1011
'Shipplnn J07 31O000
1 lianka and trust companies Oil 703.200
Orand total . . . .S.'i H7.0S9 000
In addition to the above totnl. Great
Britain has Invested fairly large amounts
I In British West Indinn, Colonial nnd
I other securities The totnl British West
1 Indian investments wfluld probably np-
1 proximate JCO.000,000, including some
J30.000.000 in Colonial loans nnd upward
of $20,000,000 in Trlnldntl oil securities.
Thus the approximate total invested In
governmental and municipal securities
1 and in stock enterprises throughout
' South and Central America, Mexico and
j the West Indies may conservatively be
said to approach $5,250,000,000.
Other Investments
I N'o figures are available as to the ex
tent of French Investments in Latin
America. The amount placed ln Argen
tina Is said to total $400,000,000, and
fully that sum has gone into Brazilian
loans and enterprises ; ln fact, some est
imates place tin? total amount of French
capital In that field as high ns $800,
000.000. There Is likewise French cap
ital in practically all of the other re-
Hurley Gains
Army Ships
Contlnnrd from Pare One
ns was tho steel ship over wooden
ones; America liaa the advantage of
entering tho Mold with new equipment.
She has the illsndvnntago of high la
bor cost, but this Is only the snmedls
advantage she has to overcome In nil
fields of Industry through the use ot
modem machinery.
Strengthens Our Position
This confident determination to
compete ln merchant shipping, asking
no odds, strengthens America's posi
tion at the Penco Conference. It was
precisely here that America was
thought weakest. If America sought
to compromise regarding foreign
trade, this would bo a trading point
favoring the British In all the trading
that must take place before the two
nations ngrep upon the freedom of
tho s.eas and the League of
I Nations. If Ameilcnn shipping nilvl
or.s hero prevail, there will be no
compromise. This determination to
compete in spite cf obstacles will
I largely Inlluenro Kngland's aittltude.
I The outstanding feature of the Con
ference will ho tho rivalry between
England nnd America, perfectly
I friendly hut Intense.
Tho sternness of this iivalry will
I be a big factor In making it possible
for Wilson to have his way at the
conference, for Great Britain will not
wish to foice the issue with n Power
so great as America, hut lather to
agree wherever possible.
Want (iermnii Ships
Ameilcan shipping advisers favor
surrender of Herman merchant ship
ping except Hint barely necessity, and
' for Germany to replace as far ns pos
sible the destioved tonnage of the A.
, lies nnd neutrals.
Ono fnctor making for sjmpathy
with the European desire to compel
Geimany to pay heavily is Germany's
economic advantage If an other
couise Is pursued. Net having been
Invaded, her Industries ran recover
moie quickly than those of any other
country except America. She might
dump goods on the world in compel I-
, tion with products of the Allies and
our own.
Likely to Cripple Germany
i For this reason Germany's rolling
stock and ships ure likely to bo seized
for the benefit of the Allies who suf
fered heavily, Germany being left
what is barelv necessary. This handl-
cap will hold her back at least till
the rest of Europe recovers and may
bo consistent with vvhnt President Wil
son calls Justice to Germany. Our
Interests nnd those of the Allies con-
, verge regarding any too quick recov
ery ot German Industries.
B00MP0RTTRADE
TO LATIN AMERICA
Efforts Being Made to Add
New Lines and More
i
Ships
WANT LARGE FLEET!
Appeals From Buenos Aires,
Cities in Brazil and Other
Countries Received ,
Philadelphia's port boosters nre work
ing hard to gain for this city n grenter
mercnntllo fleet for South American
trade.
Just as soon as many steamers are
released from Government control, both
Allied nnd American, virtually all tho
former lines running from this port to
South American shipping centers will be
resumed nnd new lines started. This
will boom Philadelphia's South Amer
ican trade.
"Philadelphia Is tho natural seapor.t
to South America; It Is a big manufac
turing nnd railroad center and nenrer
by many miles to South America than
New York harbor." said Director Web
ster, of the Department of Wharves.
Docks and Ferries, nnd held of the port
development committee
"War hid hadlv erllinkd our trade to
the south, but It Is now being resumed
i and we nre stilvlng lo get new 'linos
'nnd open a big trade path from this
city "
ffnti nt a f.lft-nln frillls llimllPr. lllir-
jlng the present month have again begun
to follow In grenter quantity from houin
America to Philadelphia. However, the
shortage of bottoms has kept much of
this cargo bound in the country from
which It originated.
Tho efforts to reopen South Amerlcin
trade on a "blggcr-than-cver" style has
been spurred with new appeals irom
banking and commercial institutions In
South American countries.
Concerns in Buenos Aires, ports la.
, Brazil and other countries have been
promoting nn advertising campaign to
I open business with Philadelphia
I A number of the big steamship om
1 panics hero have virtually promised that
they would start regular lines with
South American ports on a big scale
Just as fcoon ns their steamers were re
lersed from Government control
The present shipping emergency has
been partly met by a larger allocation
! of schooners trading betvven this port,
I Buenos Aires and other'houthcrn ports.
Much of the commerce existing has been
more or less dependent on tho schooners
for m.in months.
AMERICANS ARE COFFEE USERS
Take Most of Costa Rica's Crop
of 25,246,711 Pounds
Official statistics of Costa P.Ica's coffee
exports for the last season, from August
27, 1917, to date, shows shipments total
ing 25,2411,711 pounds gross. Theso figures
show that Costa Itlca Bhlpped ln thai
period 1,757,839 pounds less coffee than
in the corresponding period of Inst year.
Of fully milled coffee 25,179,933 pounds
were exported and 66,778 pounds of
coffee ln parchment were shipped. These1
figures nre respectively 99.74 and 0.2U
per cent of the totnl ejtports
Through Your Own Bank
fcji" A z ' l m
ARRANGEMENTS may
be made with the Anglo
South American Bank,
Ltd., to finance American com
merce with Latin-American and
European countries through
your own bank. This bank
maintains eleven branch offices
in Chile, eleven in Argentina,
and one in Uruguay, as shown
on the map, as well as correspon
dents in the other countries of
South America.
In addition to this unusually
complete service, this bank 'has
branches in the chief commer
cial centers of Great Britain,
France and Spain, and corre
spondents in other parts of the
world.
With capital and reserves of
more than $32,000,000, the
Anglo-South American Bank,
Ltd., offers exceptional facilities
to American exporters and
financial institutions having no
direct connections in these countries.
Write for Booklet "Collection Tariff.'
Anglo-South American Bank, Ltd.
'ii
IS"
Head Office
London
New York Agency, 60 Wall Street
John Cone, Agent
F. C. Harding, Sub-Agent
W. M. Dawkin, Sub-Agent
Capital and Reserves
Over $32,000,000
BRANCH BANKS
An Aid to Foreign Trade.
THE National City Bank's branches and those of the International Banking Cor'
poration practically cover the important business centers throughout the world.
These branches do a general banking business and offer every facility for the
extension of foreign trade.
The foreign banking houses of The National City Bank of New York and df the
International Banking Corporation, which is now included directly in its organisa
tion, are located as follows:
Brdc?tes of
The Tjational City Ban of 7jew Yot
Buenos Aires, Argentina
Once, Buenos Aires, Argentina
Rosario, Argentina
Bahia, Brazil
Rio de Janeiro, Brazil
Santos, Brazil
Sao Paulo, Brazil
Santiago de Chile
Valparaiso, Chile
Montevideo, Uruguay
Caracas, Venezuela
Cardenas, Cuba
CienTuegos, Cuba
Havana, Cuba
Matanzas, Cuba v
Sagua la Grande, Cuba
, Santiago de Cuba -
San Juan, Porto Rico
Genoa, Italy
Moscow, Russia
Petrograd, Russia
Branches of the
International Banking Corporation
Canton, China
Hankow, China '.
Hong Kong, China
Peking, China
Shanghai, China
Tientsin, China
Bombay, India .
Calcutta, India
Kobe, Japan
Yokohama, Japan
Batavia, Java
Soerabaya, Java
Cebu, Philippines
Manila, Philippines
Singapore, Straits Settlements
Medellin, Colombia
Puerto Plata, Dominican Republic
San Pedro de Marcoris, Dominican Rep.
Santiago, Dominican Re blic
Santo Domingo, Dominican Republic
Colon, Panama
Panama, Panama
San Francisco, California
London, England
rJ5
The bank is organising a further extension of its international banking system to
meet the needs of our growing national commerce.
The National City Bank of New York
55 Wall Street, New York
An Export Message
to Manufacturers
THE END OF THE WAR HAS COME SO SWIFTLY that most manufacturers find themselves
unprepared for the great export trade that may now be expected.
Prompt action should be taken by the individual manufacturer at this psychological moment to begin
his post-war export campaign.
We are on the threshold of a new era in world trade which offers stupendous opportunities to the
American manufacturer with initiative, enterprise and foresight.
The world has learned to see nnd do things on a scale
never before conceived, and it will now turn the new
found energy devolved by war into the ways of peace.
Markets such ns Latin-America, the Philippines, Aus
tralasia and other self-governing British Dominions, the
French colonies, and the Mediterranean countries, are
clamoring for merchandise of every sort, after over four
years of being on short rations duo to war orders, export
control, reduced shipping, the U-boat warfare and other
causes.
Their warehouses and shops have been emptied of mer
chandise during these four years, despite the enormous
shipments they have received from us,and these countries
have also accumulated an unprecedented purchasing
power, due to the great excess of their exports of food
and raw materials over their imports of manufactured
goods.
Great stretches of the earth in Asia and in Europe itself (
which have groaned for centuries under autocracy have
been set free for self-development under democracy, thus
creating new markets for manufactured goods and
creating new sources of food supplies and aw materials.
Then there arc the home markets of Great Britain,
France and Italy, where American specialties have
always been popular and will be more so than ever now.
Few realize that Great Britain before the wnr was our
largest customer. For months the need of shipping space
to Europe has been so imperative that tho Allied nations
were forced to prohibit all shipments, even by parcel
Adding the reconstruction needs of Belgium-and France
to these accumulated normal needs, we have an enormous
demand for American merchandise in the Allied countries
alone that will take years to satisfy. i
Beforo tho war Germany was a very large exporter,, not
only to Latin-America, Asia and Africa, but also to Great
Britain and France. Germany has sacrificed her world
trade on tho altar of militarism, and the goods formerly
supplied by Germany will now have to be supplied largely
by tho United States.
This country 'has a permanently increased manufacturing
capacity wtyh which to meet this enormous export demand
for machinery, hardware, clothing, automobiles and all
other necessities and refinements of life which civilization
is now demanding. Export trade is the logical way to
take up the slack duo to canceled war orders and to thus
prevent unemployment and demoralization of commodity
prices.
It is officially announced that the gigantic shipbuilding
program is to continue., for it is realized that this great
fleet will be needed during the period of reconstruction
nnd demobilization. We are building every month moro
ships than wo formerly built in a year.
America has learned to think internationally in the last
four years, as -all tho world knows. In commerco no less
than in diplomacy and in warfare we have lost our
isolation and taken our place in the great world. Despite
every handicap of the war, wo now have a greater export
trade with non-war markets than any nation ever beforo
had.
post, that could possibly be delayed until after hostilities.
, It is our business to assist manufacturers
to secure export business
The facilities we offer you are the result of 41 YEARS' EXPERIENCE in developing American export
trade, during which period the AMERICAN EXPORTER has been the great organ of American-made
goods' in every foreign land. ' . .,,',,
It will take the 'story of your products straight to the merchants and business men m all the foreign
markets through the columns of its four separate editions, English, French, Spanish and Portuguese.
Its success in developing export trade for manufacturers through publicity is witnessed by the fact
that this publication has more advertisers than any other periodical in the world, with ono exception'
("Iron Age.") Its present number now exceeds 900, and is growing rapidly.
Let us send you detailed explanation of what we can specifically do for you.
AMERICAN
EXPORTER
-- v Head Ofllco, 17 Battery Place, New York
Philadelphia Ofllce, 111G 'Fidelity Mutual Building. A. T. Bradley, Pennsylvania Manager
Pl?ArTirAT PXPORTING" o SSO page Hand Book on how to get and handle export business, by B. Olney I
ihuaT Editor. American Exporter, Second Edition, should be read, by eiery wide-awake manufacturer and sales man
aatr.PrUetC If Vw " not xMW with ft th4 money mil be refunded. Published Jby American Exported I
i Combined Resources $1,104,064,405
i
i i
.u
k
"W
' "I
nv
i
L
....!
t
ni
V!L..&!
m
Pf,VVH'BPBHiPVHPPHHHVinHIIVPnRn,PVVffVFlW"
'! i iSfttr
JtWA