The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-16

dence on the farm. He received in ad-
dition fifty acres more land for each
son over ten years Of age but was ex-
pected to pay back all advances, the
whole amounting to about $500, except
land, within eight years from his ar
rival. These terms have, 1 believe,
been discontinued. Under them great
numbers Of Germans came into Chile,
and today parts Of the new South Chile
are largely a German settlement. The
cities Of ValdiVia and Puerto Montt,
situated at harbOrs on the south coast,
are almost German cities, and the most
OF the property there belongs TO the
Germans. They own great wheat farms
about Angel and Traiguen, which are
also large towns IN the region south
Of here, and they have established tam
neries and breWerieS in number of
places. The trees of South Chile fur
nish excellent tan bark, and great
quantities of sole leather are made at
Valdivia and shipped thence via Ham
burg to Russia. There is a great deal
Of good land here, and it can be
bought very cheap, but I would not
advise any but those prepared to farm
in a large way to come to Chile. Labor
is cheap, and the ordinary American
cannot compete with the Chilean roto
in prices. There is room for our peo-
pie only as prOprietors and managers.
Such men, with a capital of 900 and
$40, 000-can make money here in farm
ing and land speculation.
CHILEAN FARMS.
The papers of Santiago, Valparaiso
and Conception are full Of mortgage
foreclosures, and at forced sales some
Of the best of the big estates are be-
TIM 30
agance of the people, the probability
Of war with the Argentine, the fall Of
silver and the money complications of
the country, times were never SO hard
here as they are now l am told that
estates which paid as high as 20 per
cent on a valuation Of 100000 a few
years ago can be now bought for $780,,
600 and less Many Of these farms are
irrigated Two big estates near this
city are to be sold within the next six
months. One contains 10000 acres and
the other "a, 900 acres. They will not
bring more than one-fourth their ac-
tual value, and will, 1 am told, pay a
big interest. It takes a great deal of
money to stock new farms of this size,
but their profits are proportionately
great. 1t Is impossible to work them
without money, and I hear of rich
farmers who by the present financial
conditions are anxious to borrow money
at high rates of interest. One case is
that Of a man who owns at least
100000 worth Of unincumbered real
estate. He wants a loan of 5000, 900 on
1t and will pay 10 per cent interest. He
cannot get the money of the banks, for
they are overloaded with real prop
erty, and at this writing he expects to
place the loan with one Of the big in
surance companies Of New York The
banks here get 10 and II per cent for
money and charge commissions in ad-
dition for making loans.
STREET AND STEAM RAILROADS.
I had a talk last night with Capt.
William S. Wilson, an American who
has lived out here for the past fifty
years, on the chances for American
capital in Chile. Capt. Wilson comes
Of one Of the old families of Washing
ton and Baltimore. He is now over
seventy years Of age and has retired,
but he has in his day been one Of the
noted sea captains of the Pacific. He
was thirteen when he ran away from
Georgetown college to go to sea, and
at twenty three years of age, in 1S49,
he was in command Of the ship Rome
Of Baltimore. He joined our navy dur
ing the Mexican war. In 1849 he came
to Chile as commander Of the clipper
bark Bella Vista, built in Baltimore,
and for years had charge of this and
other American vessels on this coast
Later on he became an officer of the
Chilean navy, took part in the war with
Peru and was also naval commander
in Chile's war with Spain. He has
also been connected with some Of the
biggest coal mines of this country as
manager, and although he is not now
in active business he is we'll posted on
all things Chilean. Said he: Chile is
poor in money only. The resources of
the country are great and the chances
just now for safe and profitable in
vestments are many. What our capt.
talists, who are after such things,
should do is to invest few hundred
dollars in steamship tickets and come
out here and look into the field. They
should bring engineers with them and
thus be able to tell just what the diff
ferent properties are worth. Take for
instance, this town of Conception It
contains 10000 people, and is one of the
best cities in Chile. It is only eight
miles from Talcahuano, a town of TO-
900 on the best harbor south Of San
Francisco. 1t has a naval dry dock
and five lines of European steamers
call regularly there. We have here
horse railroad, which Is now paving
6 per cent dividends on it's capital of
$Z5O,OO0 Chilean, or about $4,000 gold
Ih1s road is for sale. 1t can I believe,
be bought for the par value of its capt.
tai stock, and the system If made an
electric one would pay enormous divi-
bends. 1T has now ten miles Of track.
and the city will grant charters for ex-
tensions to the other streets and a
branch could be built to Talcahuano.
We are, you know, here right in the
center Of the great coal regions of
Chile. The screenings of the mines can
be used for generating the electricity.
and these cost here only So cents of
your money a ton.
There is also a chance for a steam
railroad near here" continued the old
sea captain, The government and
people are anxious to have one built
from Pence on the coast fifteen miles