The Saint Paul globe., 1901-07-29
ISLAND OFF PORTO RICO CAPABLE
OF Padding IT'S OWN
CANOE
PROSPERITY SHOWS ITSELF
Plantations That Have Gone I'm
worked for Years Are Now Be
eing Cultivated With
Profit
CONDITIONS MUCH BETTER

SAN JUAN, Porto Rico, July 2S.-
Events have already proved that the tax
law drawn up by the legislators of this
island will provide means for the Isl
and's requirements This indicates that
Porto Rico is more prosperous than il
was a couple of years ago.
Steady Improvement mas been made
since the day Gen. Miles landed at Guam
ic three years ago. The people are in
better physical condition, and work with
more spirit. Plantations that went un-
worked for long time are beginning
to show signs of prosperity. There is
more shipping in the harbor, and the
signs generally indicate better conditions
Nevertheless, scarcely an instance can
be cited where any considerable amount
of American capital has been invested
in Porta Rican enterprises Numerous
promoters and capitalists have visited
1.-The island and have declared that this
or that investment would bring good
returns, but have gone away, never to
be heard from again.
Manager Charpentier, of the French
Railway company, who sails for New
York on the steamer Ponce, takes with
him the recently granted franchise to be
submitted to President Mckinley for mis-
signature He will then proceed to Paris
to confer with the directors of the COM
hanging fire for two years, is considered
the most reasonable yet granted by The
council. Under the Spanish regime the
company was paid a subsidy of 8 per
cent of the capital invested in every ki!o-
meter of road completed and in opera
ton. Much pressure was brought ID
bear to induce the executive council to
continue the franchise without the GUS
tomary royalty, and the company was
finally successful, although on conditions
which compel the company to complete
forty miles of railroad within eight years
This the company is prepared to do hop
ing to sell out to American railway inter-
eSts before the expiration of that period.
+. II. Dexter, an American attorney,
sails on the same steamer, with a signed
franchise issued to telephone companies,
empowering them to connect the local
systems of San Juan, Ponce and May
guez by a long distance system. For
this right the telephone company, ac-
cording to the terms of it's franchise, is
to pay the insular government a royalty
of l21a per cent of its receipts in addition
to taxation.
Mr.. Dexter has also authority from the
city of San Juan to float a loan of $75,-
600 for the construction of a pier. The
council is now considering whether to
levy royalty on the city-bullt pier.
But 1t is feared that under present condi-
tions American capital will be reluctant
to assist either enterprise
When the executive council came into
being there were upwards of thirty ap-
plications for franchises of various sorts.
Today there are none, except that of the
Porto Rico Steamship company to re-
build it's pier. The only franchises OF
importance that have been granted so
far have been issued to Gen. Roy Stone,
which is now seeking capital; a trolley
line in Ponce, issued to Deford & Co Il,
which is now under construction and wa
tter-power rights to Ramon Valdez, which
is seeking capital.