The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-16
SUNDAY MORNING, OCTOBER is, 1898.


the only provision required by the govern
ment is that the purchaser put a fence
about the property he buys
IMMIGRANTS AND GOVERNMENT.
Chile has been very anxious to have i'm
migration and she has in the past offered
extraordinary inducements to colonists.
Each male immigrant was given one hum
bred acres of land, team of oxen, a cart
and a barrel of nails and three hundred
boards to build him a house. He was also
loaned money for his passage from Europe
to Chile and was paid SIS a month for the
first year of his residence on the farm He
received in addition fifty acres more land
for each son over ten years of age but was
expected to pay back all advances, the
whole amounting to about 5000, except the
land, within eight years from his arrival.
These terms have, I believe, been discon-
tinued. Under them great numbers of Ger
mans came into Chile, and to-day parts of
the new south Chile are largely German
settlements. 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 Trai-
guen, which are also large towns in the
region south of here, and they have estab-
lished tanneries and breweries in number
of places. The trees of south Chile furnish
excellent tan bark and great quantities of
sole leather is made at Valdivia, and
shipped thence via Hamburg to Russia.
There is a great deal of good land here
and it can be bought very cheap, but
would not advise any but those prepared 10
farm in large way to come to Chile. La
Dor is cheap, and the ordinary American
cannot compete with the Chilean roto IN
prices. There is room for our people only
as proprietors and managers. Such men,
with a capital of $4,000 and upward-better
$50, 700 or 100000 than ten--can make money
here in farming and land speculation.
The papers of Santiago, Valparaiso and
Conception are full of mortgage fore
closures, and at forced sale some of the
best of the big estates are being sacrificed.
Owing to the extravaganza of the people,
the probability of war with Argentine. the
fall of silver and the money complications
of the country, times were never so hard
here as they are now. I am told that es-
tates which paid as high as 20 per cent. on
a valuation of 100000 few years ago can
be now bought for 100000 and less. Many
of these farms are irrigated. Two big es-
tates near this city are to be sold within
the next six months. One, contains 10000
acres and the other $4,000 acres. They will
not bring more than one-fourth their ac-
tual value, and will, / am told, pay big in
terest. 1t takes great deal of money to
stock new farms of this SIZE but their
profits are proportionately great 1t is i'm
possible to work them without money, and
/ 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 s., 000,-
600 worth of unincumbered real estate. He
wants a loan of 100000 on it and will pay
10 per cent. interest. He cannot get the
money of the banks for they are over
loaded with real property, and at this writ
ing he expects to place the loan with one
of the big insurance companies of New
York. The banks here get 10 and IL per cent.
for money and charge commissions in addi-
ton for making loans.
STREET AND STEAM RAILROADS.
I had 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. Captain
Wilson comes of one Of the old families of
Washington and Baltimore He is now over
seventy years of age and has retired, but he
captains of the Pacific. He was thirteen
years old when he ran away from George
town College to go to sea, and at twenty
three years of age in 1S49, he was in COM
mand Of the ship Rome, of Baltimore He
Joined our navy during the Mexican war
In 1S49 he came to Chile as commander of
the clipper bark Bella Vista, built in Bal
timore, 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 Chiles 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 well post
ed 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 invest
ments are many What our capital
lists, who are after such things, should
do is to invest a few hundred dol
lars 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 different properties are
worth. Take, for instance, this town Of
Conception. 1t contains forty thousand peo-
pie, ana Is one or the best cities IN Chile.
1t is only eight miles from Talcahuano,
town of ten thousand on the best harbor
south of San Francisco. 1t has naval dry
dock and five lines of European steamers
call regularly there. We have here a horse
railroad, which is paying per cent.
dividends on it's capital of S250,O00 Chilean,
or about $4,000 in gold. This road is for
sale. 1t can. 1 believe, be bought for the
par value of its capital stock, and the sys-
tenn if made an electric one would pay
enormous dividends. 1t has now ten miles
of track and the city will grant charters
for extensions 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 screen
ings of the mines can be used for generating
the electricity, and these cost here only 80
cents of your money ton.
There is also a chance for a steam rail-
road near here continued the old sea cap
tain. 1.-The government and people are
anxious to have one built from Pence, on
the coast, fifteen miles to Tome and thence
north to connect with the government line
at Parral. This would be over one hundred
miles in all, and it would pay WE'LL as the
route goes through a rich country. The gov