Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1898-11-17
CHANCE FOR CAPITAL.
Prospects For Men of Small
Means In Porto Rico.
PROFIT IN COFFEE PLANTATIONS.

can Hotels, Restaurants, Barber
Shops, ~Laundries, Breweries, Etc.
The Chief Town In the Future.
Titles in Porto Rico are regarded with
a sufficient tincture of suspicion by
Americans during the present interreg-
mum, when it has become somewhat
questionable with some as to what off
GERS have authority to administer an
oath or what courts are possessed OF
competent jurisdiction to receive and
file records, to place a considerable
limit upon transactions in realities. So
far as the military power now govern
ing the island goes there has been no
disturbance of the legal status of affairs.
On the contrary, definite instructions
were given by General Miles for the
recognition of the existing regularly
established authorities.
Capital is, however, as we all know,
p~roverbially timid and does not brook
uncertainties, so until the island is
fully and finally transferred to the own
ership of the United States it is likely
that the markets will remain sluggish.
Notwithstanding all this, assurances
are given by reliable Porto Ricans that
all titles are clear and defensible, and
perfect abstracts can be obtained.
There are now in the province of
Ponce probably 800 Americans, who
are here to look up the prospects for
Investments and the business chances,
and possibly there are as many more in
other parts of the island. These repre-
sent every element of professional, COM
mercial and industrial life, and it is
safe to say that they are a shrewd lot
and that such Investigations as they
make will be searching and conclusive.
My own information leads me to one
fixed conclusion, and that may be thus
stated: Porto Rico offers promise to but
a limited number of men with small
capital. 1t is not like our western states
and territories, a country with extern
sive areas Of unoocupied or unclaimed
lands. Every acre is owned by some
body, and possession can only be &C.
quired by purchase. Ihasmuch as it is
pretty we'll understood that the Ameri-
cans, having conquered the island, will
now want to occupy it and that we are
a people not only possessed of wealth,
but somewhat literally inclined to part
with it, prices have not only advanced
materially since the signing Of the pro-
tocol, but there is every prospect for
them to still mount upward.
A Chicago real estate man who has
been for some weeks looking into the
situation puts it thus:
my impressions when I left Chicago
were that Porto Rico would offer some
fine openings for men of small means
who lack opportunities at home, and !
came here to seek information with that
proposition chiefly in view. You know
that the mar in the United States who
has only a few thousands is lost sight
of in this age of pools and trusts and COM
bines and syndicated department stores,
and my thought was that here was a
country to which he might come, and,
with his limited means, begin life again
under more hopeful conditions. Ifnd,"
he continued, further, "that the coffee,
sugar and tobacco plantations are, in
the main, Of large extent, and when
owners are willing to part with them at
all, which is in rare cases, the amount
necessary to purchase reaches sums run
ming from $50. 900 upward. Fruit farm
ing is uncertain and reliable data upon
which to base estimates are difficult, if
not impossible, to obtain. After investi-
eating these I turned my attention to
dairying and other minor industries,
but there are. some unfavorable circum-
stances surrounding these more or less
insurmountable, and I am convinced
that Porto Rico, except in a very limit
ed sense, is not a poor mans country
I desire here, however, to repeat and
emphasize certain statements of mine
made elsewhere as to some lines of bust
ness here. There are openings for good,
we'll conducted American hotels, res.
taurants, barber shops, laundries, tailor
shops, hack and express lines, livery
stables, ETC., and when the building era
begins, which will be next year, there
will be work for every sort Of mechanic.
I speak Of the building era because un,
der any set Of circumstances it is bound
to come. The agricultural lands and,
in fact, the whole island are sure to pass
into the hands Of Americans. Their SUI
perior methods and commercial sagacity
will enable them to gradually absorb
the holdings of a race SO i'll fitted to
compete with them as the Porto Ricans,
intelligent and shrewd though they are
as measured from the standpoint Of
comparison with the other native PEG,
Piles of the Antilles.
With due respect to the conclusions
Of the Chicago man above quoted l
want to give it al my opinion that, if
buyers come early enough, unimproved
lands in small tracts may be had at
%justifable figures-lands which may be
planted in coffee and made to yield rich
returns in five years. During the un-
productive growing period corn; vege-
tables and some fruits may be cultivat.
ed and sold that should pay the living
expenses. Coffee growing in Porto
Rico is about the most profitable indus
try today in the world. It would pay
and does pay under ordinarily favor
able conditions 80 per cent on the in
vestment year in and year out. This
equals the returns from the wool in.
dustry in the palmy days Of the north
west. My information is that the lands
at for coffee culture may be increased
80 per cent on the island, and in this /
SEQ a ray Of promise for a limited num-
Der Of small capitalists who have been
frozen out of most things at home.
Tla.a -. - G.-. AL. ILL., 49, -.