The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-12

watch has swept the field. We do q large
business in American sewing machines and
we are beginning to sell American bicycles.
We sell considerable oregon and California
lumber and not a little white pine from
New York. Some American furniture is i'm
ported, chiefly cane-seated chairs. We are
importing some printing inks, and a large
part Of the furniture and machinery for the
new postoffice at Lima is American. The
boxes were imported by us. and the postage
stamps of Peru are made by the American
Bank Note Company Of New York. The
most of the rolling stock and bridges for the
railroads Of Peru have until now come from
America, but, as the roads have gone into
the hands of an English syndicate, in the
future such articles will probably be shipped
from England"
SOLICITING TRADE.
Mr.. Crosby says that the commercial
travellers sent down here by some of the
American houses do more harm than good.
They do not understand the Spanish lam
guage nor the people. They cut prices
and often make statements which cannot
be relied upon. 1t is useless to send a
man down here who does not understand
the language, and until Spanish-speaking
drummers can be educated as far as selling
is concerned I should think that dealing
through such firms as the Graces and Flint
Eddy & Co. would be most profitable. These
companies will handle anything, and they
charge a commission on their sales. Every
manufacturing establishment in the United
States should look upon this territory as
part Of it's legitimate field and get into it as
soon as possible. We should begin at once
to educate our commercial travellers in
Spanish, and should have some of our best
co1o a{S,,
American goods. 1t is useless to send cata-
logues and pamphlets, for these are thrown
into the waste baskets. One of the objec-
tionable features of the trade in the eyes Of
the American is that most of the German
and English sales are made with the I'M
derstanding that the goods are to be paid
for within from thirty to sixty days after
arrival, and that many of the firms, while
perfectly good, do not appreciate the value
of few days interest, and slow In set
thing their accounts. The business should
be done on from thirty to sixty days sight.
This is asked by many of the American
salesmen and the Peruvians are gradually
becoming accustomed to it.
AS far as wealth and business is con-
cerned it seems to me that Spanish Ameri-
ca has the galloping consumption. do not
mean by this that the business done here
is not as great as in times past. 1t is in
creasing every year. But it is rapidly go
ing 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 a
dividend or make dollar. Some of the best
of the mines are now in the possession of
foreign companies. The big sugar estates,
which have made fortunes for the Peruvians
in the past and in which to-day a working
capital of more than 81, 100000 is employed,
have largely gone into the hands of the En-
glish. Some estates are owned by Chinese,
and have spoken of the large holdings of
the house of w. r. Grace & Co. The rail-
ways are almost altogether owned by the
English, although the great coal line con-
cession 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 Calao, and
several English syndicates. The chief bak
cry and brewery of Lima was started by
two enterprising Americans-Backus and
Johnston-and sold out by them at big
profit to an English syndicate, which is pay
ing large dividends.
PERUVIAN METHODS.
AS to commercial business, the Peruvians
have allowed it to go almost entirely into
foreign hands. Many of them are ashamed
to be engaged in trade, and they have, as
a people, no business instincts. There are
not g. half dozen native firms in Peru
which now do what would be called a
large business. The signs over the stores
of Lima are German. French Italian, Eng
lish and Chinese. There are about q, 900
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 mercantile establish
ments here. The Germans monopolize to a
large extent the dry goods, knick knacks
hardware and mining machinery sales of
Lima. They are ready to go into anything
in which they see chance to make money
The Italians are the grocers of the city,
and you find them selling fine groceries in
nearly every big Peruvian town. The Eng
fish sell dry goods, crockery, paints, oils
and machinery and the chief dealers in
silks, wines and brandies are the French.
There are few Spanish book stores. The
banks are almost all foreign and the stock
owned in the dividend-paying companies is
chiefly in foreign hands.
find that these people down here are
not satisfied with the low rates of interest
which now prevail in Europe and America
Good loans can be got at 10 per cent,
and l and per cent. month is not I'M
common on paper issued for a short time.
In some cases 8 per cent. only is asked, but
there are always commissions which in
crease the regular interest rates. The
pawnbrokers do big business, and you
find them in every block Many of the
stock companies pay good dividends. The
Lima Waterworks Company pays II per
cent. quarterly, and the Lima Gas Com
pany, which has capital of 50, O000 900 (sil-
ver), pays per cent. and the probability
is that the stock was largely watered. The
Peruvian Telephone Company which fur
nishes Lima with its service at about half
the rates charged in American cities, gives
annual dividends of 10 per cent. The CAPT.
tai Of the telephone company is 100000
One Of the insurance companies here pays
dividends of Is per cent. A Touring mill
ing company pays per cent. and a wheat
warehouse company a like amount. Some
of the stock companies which do the best
are those which deal with or through the
government. There is the Society for the
Collection of Taxes, which buys the right
Of the government to collect the taxes on
alcohol and tobacco. 1t pays, 1 believe, a
lump sum, and has in place of it the reve-