Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-11-06
HIS GIGANTIC SCHEME,

| How Mr.. Lyman would Improve Pam
American Trade-A Company of North
mud South American Capitalists.
Mr.. A. W. Lyman, of the New York
american Metal Market, passed through the
city last night en- route to Chicago. Mr.
Lyman is interested in the outcome of the
Pan-American Congress. and as the dele
gates will be here to-day, he was induced to
unfold a plan of his BY which business
transacted between the countries represented
in the international convention could be i'm
proved and cared for. In a chat with q
DISPATCH man he said:
Having noted articles on South American
commercial affairs in recent issues of your
paper, together with comments on the same,
it seemed proper and opportune that just at
this time, upon the eve of the visit of the
delegates from those countries to your citv,
a proposed plan of cooperative action
in the line of improved facilities for COM
mercial Intercourse, a more efficient system
of transportation and method of financial
economy, which would relieve business
transactions between the countries of large
proportion OF the present burden imposed
upon them, might well be suggested to the
public at large with a view to its partial
adoption, at least, should it be deemed
worthy of confidence, and meet the ap-
proval of those interested in a greater
or less degree in the subject. From time
to time during the past lour or five years
this plan, or outline of plan, has been laid
before personal friends and business ac-
luaintances whose connection with large in
terests has qualified them as entirely COM
petent judges as to its feasibility and ulti-
mate success. These people, among whom
are several men high in commercial posi-
ton, and one especially, Thomas Nickerson,
of Boston, whose close connection with large
interests in Mexico made his opinion pecu-
lisrly valuable, have pronounced favorably
upon it. So that l may say that although
the ideas suggested may not be>exactly new,
yet the combination of the several depart
ments acting under one general direction is
new and, so far as 1 know, original with
me. ..
NV plan is to organize the Pan-American
Company with a capital stock of S25, ,000. 900,
in shares OF s., 600 each, With general Offices
in New York and branch Offices and storage
warehouses in South America and Mexican
ports, and inland cities of Importance as
railroad centers. The members would be
prominent manufacturers of iron, steel and
other staple commodities used in the above
named countries. Ship builders and mining
be represented in the countries named; also
mine owners and men interested in the pro-
duction of such articles as are largely used
in the United States should be taken in.
Capitalists in all the South American States
and the United States would be investors.
but not in the ascendancv as managers, for |
obvious reasons. The company would be
started for the more rapid, efficient and
economical transaction of business between |
the countries by means OF special systems of |
transportation, banking and commercial ex-
changes under the absolute control of and |
conducted wholly by officials acting under |
the general direction of the company |
through its board of directors
Transportation lines Of steamers could be
built with special. reference to the carrying
and handling of goods and material. ma
chinery and products likely to,be in large
demand, and fitted up with special facilities
therefor. The special cars would be owned
by and operated under the direction of the
company, both in the United States and
named. The system of transporta-
tion to and from each country would then
be elaborated with the utmost care to every
detail, with view to saving time, cost of
handling and reducing mileage A Gov
ernment subsidy could doubtless be Sc
cured.
Substantial warehouses could be con-
structed adapted to the special needs of the
locality they are erected in, and supplied
with modern appliances for handling such
goods as may be placed in them for export
DR. distribution. These warehouses could
be used for the carrying Of stocks suited to
he more permanent demands of trade, and
% be bonded, so that duties need not be
paid only upon withdrawal for use.
Banking facilities may be extended to
who do not feel like wait
ng for the actual sale of their goods.
The warehouses in each country can be
1sed for the accumulation of wares, prod
lets, etc., until complete cargoes are avail
lbie, either for vessel or trains; also for
'epacking such goods etc. as may not be
adapted to the methods of carrying in
rogue.
The banking department would consist of
special corps of expert fnanciers. who
will have charge of the funds of the COM
)any from the start, and receive and dis
purse all moneys arising from the several
departments carried on by the company.
md also act under a distinct charter as
,ank of deposit and loans ior outside par
les in the regular way. When deemed ad-
each OF the branch offices
connected with the system should act as the
gent OF the banking department in advanc-
n either country. While acting as a sep
rate institution, this department should be
n the control of, and under the general di-
ection of, the board of directors.
The commercial department could act as
he confidential agent and correspondent in
ZACH field which the company occupies Of
he manufacturer or producer who places {
lis business with the company. 1t will un-
ertake the sale OF such articles as are con-
igned to it at as advantageous terms as pos-
ible, the collection of the accounts arising
herefrom, and will also give its aid in mat.
ers connected with customs duties, etc. 1t
Till have trained men, who will hold them (
elves in readiness to visit any portion of
be countries in which the company
lay locate its business upon call, adyanc-
1g moneys and furnishing special reports
pom special matters upon demand. This
apartment will publish paper giving val
able information to its patrons regarding
be commercial status and general prospects
{ trade in each ofthe countries with which
is connected. This paper will be furn-
he'd only to those who become permanent !
ustomers of the company and avail them
lives of its facilities, either in the financial.
or transportation departments. {