The Portland daily press., 1896-05-08
RUSSIA'S BOOM.
Foreign Capital Going Into the Big Empire
OF the North.


the unparalleled influx Of foreign capital
into Russia during the last two years
which is still on the increase. There
never has been SO much foreign enter
prise in Russia as at the present moment,
and one of the Indications of 1t is the
want of accommodation experienced in
st. Petersburg and Moscow for several
months past by foreign visitors and their
Russian friends. All the hotels have
been continually full. and IL has been
| ascertained that the majo rity Of new
| corners are on business for foreign firms
or syndicates. At recent meeting of
the Society for Encouraging Russian
Trade and Industry, M. Goorevioh oalou-
lated that within very short time no
fewer than thirty-one new industrial un-
dertakings had been started In Russia by
Belgians alone, representing a total capt.
tai of ISL, 900, 600 rubles. Most of these
undertakings are in the metallurgical
industry in tho south Of Russia, and
some Of them are on very large scale
An enormous number of business enter
prises of other lands have been set on
foot, and are still being started by for
eigners Of other Municipalities; but Bel
gian companies seem to be taking the
tries, while the French, muchsto Russia
surprise, appear to be less inclined or les
able to take commercial advantage of the
opportunity In spite of political friend
ship. France has probably put enough
money into Russian loans at home.
As far as concerns England, there have
been many attempts of late to find safe
Investment for English capital in Russia.
but somehow old prejudioes still pre-
vent the English from approaching the
changes that are taking place in this
| country, and thes business ways Of the
Russians are much stranger and more
Objectionable to them than they appear to
be to the continental peoples. A short
tiating for large numbers of gold mines
| IN Siberia; and a tract of land as big as
the whole of Belgium. and the new
naphtha fields Of GroZni, at the northern
foot ofsthe Caucasus, are being opened
with the help of English money. This
revival Of enterprise and attraction Of
| foreign capital has received great i'm
the great Siberia Railway and the large
demand for various schemes and work IN
connection with it, Siberian mines are
on the market in ST. Petersburg by the
dozen at time. The policy of the Min
lister of Finance, Al. White, and his able
assistant Of the Board of Trade, NJ.
Kovalevsky, Is also more encouraging for
foreigners DESTROYS of engaging in Rus
sian business, and the national preju-
dioes against foreigners seem to be grow
ing less active under the present reign, at
least in Government spheres.
The ohauvintst press, however, still de-
clares that foreign capital Is conquering
| the whole south Of Russia, and that the
| The Moscow Gazette proposes, for
| instance, that all foreign enterprises
should be made to revert to the Govern
| ment after a certain number of years.
! and that meanwhile foreign owners and
directors should be compelled gradually
| to discharge all their skilled foreign
workmen In favor Of Russians. This
must gradually, though slowly, take place
| without any foroible measures.
British manufacturers at home and
those established in Russia are also
reaping the bene is of this increase of
industrial and commercial activity.
Goods made in English mills on Russian
soil are even finding their way into the
| markets Of Russian Central Asia, and
English shipbuilders at home are turn
ing ont great number Of vessels for the
Russian volunteer feet and for the
Amur River at one extremity Of the
empire and the White Sea and arctic
| coast at the other. The latest order given
| in England by the Russian Government
| is for a gigantic steam ferry to connect
the Siberian Railway across the Baikal
Lake.