The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-06-12
PROSPECTS FOR TRADE WITH PERU.


Bank Note company. of New York The
fsoss ef the rolling stock and bridges fer
me railroads % Peru have untif now come
from America. bit. as the reads have gene
INTO the hands OF an English syndicate.
IN die future such articles viii probably
Be Skipped from England
Drummiag the south Americas
Countries
Mr.. Crosby says that the commercial
sfaVsiers sent down here by eorne Of the
american houses do more harm than good.
1hey Go not understand the Spanish Ian
saaxe nor .se people. They cut prices
and often make statements which cannot
De relied upon II Is useless TO send a
man DOWN hero who does not understand
tse language, and until Spanlsh-speak.ng
orSmmeTe ean be educated as far as sssl-
:ng IL eoncernes. should think that deal
ing through such firms as the Graees and
funt. Eddy d CO. would be most profit
acse- These companies VIII handle any.
fEiDg, and they charge commission on
tDeir sales. Every manufacturing estae-
Hshfnent In the United States should look
upon TINS territory as q part of its iegiti-
mate FIELD and get into II as soon as pos
siSle- We should at once begin TO edu-
cate our commercial travellers In Spanish.
and should have some of our best sales
men going from city TO city pushing Amer
lean goods. II Is useless TO send cata-
into the waste baskets. One OF the obiec-
tionable features OF the trade IN the eyes
OF The Americans - that most Of the Ger
mans and English sales are made with
the understanding that the goods are TO
be paid for within from thirty TO sixty
days after arrival. and that rnany OF the
firms, while perfectly good. do not appre-
ciate the value OF a few days interest and
are slow IN settling their accounts. The
business should be done on from thirty 10
sixty days sight. This Is asked by many
OF the American statesmen. and the Peru
vians are gradually becoming accustomed
to IL.
The Decline of Spanish America.
AZ far as wealth and business is con-
cerned, IL seems TO me that Spanish Ameri-
ca has the gaiioping consumption. / do no.
mean by this that the business done here
Is not as great "a III times past. II is in
creasing every year. But 1t is rapidly
going out OF the hands OF the natives and
Into those Of foreigners. THIS Is so not only
with the commercial establishments but
with every legitimate business That will
pay dividend or make a dollar Some of
The best OF the mines are now in the pos
session OF foreign companies. The big
sugar estates. which have made fortunes
for Peruvians in the past. and in which
today working capital OF more than sl7,-
o0,oQo IA employed. have largely gone into
the hands of the English. Some estates
are owned by Chinese. and | have spoken
OF the large holdings of the house Of w. X.
Grace a. Co. The railways are almost alto
gether owned by the English. although the
great coal line concession granted to the
Pacific company of New York will give
us big railway zone In Peru. The oil
fields are chiefly worked by a rich Italian
named Piaggio, of Caliao. and several
English syndcates. The chief bakery and
brewery OF Lima was started by two en-
teEprislng Americans -Backus and John
ston-and sod out by them at a big profit
to an English syndicate, which Is paying
large dividends.
How They DO Business in Peru
As to commercial business, the Peru
VANS have allowed II to so alnos. entirely
into foreign hands. Many or them are
ashamed TO be engaged in trade, and they
have. as a people. no business instincts.
There are not half dozen native firms In
Peru which now do what would be called
large business. The signs over the stores
OF Lima are German, French, Italian,
English and Chinese. There are about
25.oo0 Chinese in Peru. the most OF whom
were originally brought here to work the
sugar estates and guano islands They
are now Well to do and many OF them have
become wealthy. Some Of them own the
sugar plantations upon which they shaved
and others have large mercantilc estab-
lishments here. The Germans monopolize
to a large extent the dry goods. knick
knacks. hardware and mining machinery
sales of Lima. They are ready 10 go into
anything in which they see chance 20
make money. The Italians are the gro
GERS OF the city, aid you find them selling
fine groceries in nearly every big Peruvian
town. The English sell dry goods. crock
cry. paints. oils and machinery. and :he
chief dealers in silks. wines and brandEes
are the French There are a few Spanish
book stores. The banks are almost all
foreign and the stock owned In the div-
dend paying companies Is chiefly In for
eIgn hands.
Better Than Four Per Cent.
I find that these people down here are
not satisfied with the low rate OF interest
which now prevails In Europe and Amer
lea Good loans can be gotten at 10 per
cent, and l and per cent. a month is not
uncommon on paper issued for short
time. In some cases S per cent. only IS
asked. but there are always commissions
which Increase the regular interest rates
The pawnbrokers do n big business and
YOU find them IN every block Many OF the
stock companies pay good dividends. The
Lima Waterworks company pays Il per
cent quarterly and the Lima Gas COM
pany. which has a capital of s. osooGo (sii-
ver). pays per cent. and the probability
Is that the stock was largely watered The
Peruvian Telephone company, which fur
UlsaFS Lima WITH itS service AZ about 1als
the rates charged in American cities. gives
annus dividends Of 10 per cent. The capt.
tai o. TIE telephone company is 500 600.
one 81 the insurance companies here paws
dividends az Il ner cent. A Touring mill
su. com pany pays s Per cent and a wheat
warehouse company a like amount. Some
O: the stock companies which do She best
are these which deal with or through the
government. There Is the Society for the
Collection OF Taxes, which buys the rish:
OF the government TO collect the taxes on
alcohol and tobacco. II pays I believe. a
iumn sum. and has in rlace OF IL the reTe-
nue. receipts This company has a capital
OF million silver dollars. and its stock Ia
Too per cent above par. II paid dividend
o. almost 100 per cent last quarter, and is
one OF the best things IN Peru. Then there
IL the San Lorenzo company which has
vaults out IN tire Island OF San Lorenzo.
IN which all importers CT dynamite and
other explosives are compelled by law 10
store their goods. The shares in this COM
pary have face value CT 80 (si3verb. ard
the dividends OF the past two months were
SO share. Another company which OWNS