New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-06


Ancun. the Bolivian coast and the nitrate prov
inces of Peru were Chilian conquests. This was
the young English engineers opportunity. He
had formed an accurate estimate OF the mineral
wealth OF the coast deserts Of Tarapaca. and had
sufficient influence to secure the adoption py the
CHILEAN Government Of a policy which promoted
the immediate development Of the industry.
Peru had begun by compelling the producers to
sell their nitrates at a fixed price to the Govern
ment which could then expert them without
competition at its own fg res This arbitrary
policy did not prove to be reinuneratlve, ana the
purchase Of all the nitrate deposits and WORKS by
the state was decreed, bonds being issued IN pay
mani for them Victorious Chill was in position
70 maintain this state monopoly but acting upon
the advice OF Colonel North. II wisely decided 10
omen the industry to free competition ana to con-
tent itself with receiving an export duty on the
nitrates without attempting either to regulate
the price or TO restrict production The English
engineer was on the ground and ne UNDERSTOOD
better than anybody else the resources of the con-
ouered provinces. lie began at once to purchase
at deprecated rates the Peruvian bonds which
had been issued to the nitrate companies, ana ne
also secured control Of some of the nitrate rail-
wavs The provinces had passed from Peruvian
ruIe and were under Gillian military adminstra-
tion They were ruined communities, In which
landholders and residents were anxious to sell
their interests and claims for what they could get
for them and then to retire from the country.
Colonel North succeeded in forming companies
with English capital for working one nitrate bed
ofter another and for operating and extending the
railway system.
WITH GOVERNMENT ENCOURAGEMENT
Tho Gillian Government encouraged him TO
nersevere in the development of an industry
which would yield a great revenue In export
drties and made no attempt to interfere with
tho rights and operations OF his companies.
Largely through his enterprise Iquque was con-
verted into a commercial centre and the resources
and the revenues Of the nitrate provinces were
developed Having established en- enormous bust
ness and amassed a great fortune. the Nitrate
King returned to England to double and quad
ruple his wealth by controlling from London the
nitrate market and by entering into many sue
cessful speculative enterprises In Africa and
elsewhere.
Colonel North's daily life is interesting
social study He is In the prime Of manhood,
somewhere between forty and fifty. but without
a gray hair any sign of increasing age. He
il man Of medium stature, with a plump
face and auburn whskers and hair From Mon
day morning until Friday evening he devotes his
undivided attention 10 MS business interests An
early train carries him into London and he re-
turns to a late dinner in his country house. From
$3.50 until he is accessible to any one who has
business relations with him. 1t would seem
mpracticable for any TO transact bust
ness in such a hurly-burly of loud talk.
Handwriting and merriment; but these are
the conditions under which this shrewd. far
sighted millionaire makes investments. directs
a hundred great enterprises and sustains the
market values Of the stocks with which he is
identified. His memory for details Is good, and
he is rapid in forming judgments and reaching
decisions Men who go 10 his office for mercan-
tile cues or speculative tips retire with their
labor unrewarded He has quick perceptions
| and knows when his visitor Is seeking to entrap
| him in business or to draw information out Of
! him from motives OF self-nterest. Against in
/ truders OF this class he Is always on his guard.
THE MILLIONAIRES HOLIDAY
From Friday night until Monday morning he
remains at his country house at Elthant near
Chiselhurst in Kent. about ten miles from Lon
don. He is as fully engrossed in business affairs
five days in the week any bank clerk al
though he works In his own way and carries the
responsibilities OF vast commercial enterprises
with a light heart. But at the end Of the week
he seeks to obtain real enjoyment from the
possession OF vast wealth. and on Sunday he