The Washington times., 1901-08-05
A NEW cRoEsus IN MEXICO.
Pedro Aivnrndo's Income Estimated
Mt 100000 N JJout,,

| AUSTIN, Tex, Aug i.-People in west
ern Mexico are talking about Pedro AL
varado. Less than one year ago he was
a peon. He lived at Parral. a mining
town in the State of Chihuahua. in a di-
lapidated shackiisndf there was nothing
| about him to distinguish him from hun
dreds of other MEXICAN laborers in the
mines. He wore sandals on his feet and
on his head the big. cone-shaped SOM
brero which is the delight of the peon.
| Today he Is living in luxury He has a
| monthly income of more than s2Oo.0O0 He
| is more talked about in his home city
and in every mining camp in that part of
| Mexico than any other man in that coun-
try, President Diaz not excepted
| Alvarado got his quick rise to fortune
| through discovering mine of wonderful
richness. He is not her Stratton. except
| that his wealth came probably more sud-
denly and in larger amounts than that of
the Colorado millionaire. 1t is not his
| sudden rise to afiiuence that is causing
the comment about him so much as his
remarkable manner of spending his
money.
He seems to have no idea of its value
and his chief anxiety is to get rid of his
| income as rapidly as possible. Thomas
, Welch, an American mining man who has
just arrived here from Parral. related a
number of instances of Alvarados reck-
less expenditure. He said:
Il spent several weeks at Parral and
saw Alvarado almost daily. The interest
of every man. woman. and child in that
city seems to be- centred in the man.
Since last November his net profits from
his mine. which is named the Palmlllo.
have aggregated s1.5O0000 and prior to
that time he had probably taken out about
SJU0OoJ worth of ore. He will not put this
money in bank, but keeps it at his home,
where IT is constantly guarded by large
force of armed men.
He has from $4,000 to 100000 on his
person whenever he goes out on the street
or elsewhere. and an armed guard of
eight men always accompanies him. The
members of this guard are dressed in
fantastic Mexican costume, and Alvarado
is always attired in the height of fashion.
He pays a Mexican tailor a high salary
to keep him clothed properly
'Alvarado spends his money with a
lavish hand. A few days ago a travelling
jewelry and diamond peddler struck Parral
with his wares. He was going along the
street when he attracted the attention of
Alvarado who, with his armed guard,
happened to be passing. He showed his
goods to Alvarado, and the latter asked
how much he would take for his whole |
outfit. The peddler replied that he would |
sell out for $4,000. Without any quibbling |
over the exorbitant price asked. Alvarado
drew out the money and came into pos
session of the cheap watches, ornaments, |
and fake diamonds The man seemed as |
pleased as boy with a new top over the |
trade he had made.
"a short time before this Alvarado pur- |
chased three pianos OF the most costly |
make. The instruments will go to orRa- I
ment the palace which he is building for |
his permanent home. This building will |
be the finest private residence in Mexico. |
No expense is being spared in its con- !
struction. 1t is estimated that it will cost |
not less than S50o,0O and for that dis
tant part of Mexico, where adobe build
ings are the rule. tIwill be something
wonderful. -
''Alvarado is taking the deepest interest
In the progress OF his palace. He says
that he will furnish It with the best things
that money can buy when II is completed.
He has purchased scores of useless ar
pleasure that they can give him for the
tJ-fc
with all his reckless expenditure of his
wealth, he is displaying a philanthyopic
spirit. He has not forgotten the poems
With whom only short time ago he was
closely associated. He has undertaken
he construction OF large charity hos
1ital for the poor Of Parral. This hospital
will be equipped with all modern appli-
tnces' for such institutions. and he pro-
poses to bear all the expenses of main
aiming it. In addition to this institution
ne is also constructing a large church,
which he has named Guadalupe Cathe-
iral. This church will cost several hun
lred thousand dollars
There Is no prospect OF the wealth OF
Alvarado being soon exhausted. The Pal
milo mine is destined TO become one OF
he largest ore producers ever struck in
Mexico. The output will soon reach 2,000
ons daily. and the monthly income of
alvarado will be increased to not less
han $4,000. He has been offered fabu-
Gus sums for the mine. but all offers are
promptly declined. His sole ambition is
o develop the mine and to spend his in
ONE as rapidly as possible. He has helped |
many of his old-time peon friends in a
financial way. and the lower class of