The Topeka state journal., 1901-11-30
A MEXICAN CROESUS
[Cor. the Providence Journal


People in western Mexico are talking
about Pedro Alvarado. Less than one
year ago he was a peon. He lived in
Parral, mining town in the state of
Chihuahua, in a diIapidated shack, and
there was nothing about him to dis
tinguish him from hundreds of other
Mexican laborers in the mines. He
wore sandals on his feet, and on his
head the big, cone-shaped sombrero
which is the delight of the peon.
Today he is living in luxury. He has
a monthly income of morei than $780,,
600. 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 country, President Diaz not
excepted.
Alvarado got his quick rise to fortune
through discovering mine of wonder
full richness. He is another StrattOn,
except that his wealth came probably
more suddenly and in larger amounts
than that of the Colorado millionaire.
1t is not his sudden rise to affiuence
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 from PaIral,
related number of instances of Alva-
radios reckless expenditure to the CORE
spondent. He said:
s'I spent several weeks at Parral and
saw Alvarado almost daily. The in
terest of every man, woman and child
in that city seems to be centered in the
man; Since last November his net
profits from his mine, which is named
the Palmillo, have aggregated 81, 500 900,
and prior to that time he had probably
taken out about $500,000 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 $500 900 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,
height of fashion. He pays a Mexican
tailor a high salary to keep him clothed
properly.
'sAlvarado spends his money with a
lavish hand. A few days ago a travel
ing jewelry and diamond pedler 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 pedler
replied that he would sell out for $15,-
000 Without any quibbling over the
exorbitant price asked, Alvarado drew
out the money and came into possess
sion of the cheap watches, ornaments
and fake diamonds. The man seemed
as pleased as a boy with new toy
over the trade he had made
"A short time before this Alvarado
purchased three pianos of the most
costly make. The instruments will go
to ornament the palace which he is
building for his permanent home This
building will be the finest private resi-
dence in Mexico. No expense is being
spared in its construction. 1t is esti-
fh9f ~ hor
$5o0,000, and for that distant part of
Mexico, where adobe buildings are the
rule, it will be something wonderful.
'Alvarado is taking the deepest in
terest in the progress of his palace. He
says that he will furnish it with the
best things that money can buy when
it is completed. He has purchased
scores of useless articles, and simply
buys them for the pleasure that they
can give him for the moment
With all his reckless expenditure of
his wealth he is displaying a philan-
thropic spirit He has not forgotten the
poems with whom only short time
ago he was closely associated. He has
undertaken the construction of a large
charity hospital for the poor of Parral.
Th1S hospital will be equipped with all
modern appliances for such institutions,
and he proposes to bear all the ex-
penses of maintaining it. In addition
to this institution he is also construct
ing large church, which he has named
Guadalupe cathedral This church will
cost several hundred thousand dollars.
There is no prospect of the wealth
of Alvarado being soon exhausted. The
PalnillO mine is destined to become one
of the largest ore producers ever struck
in Mexico. The output will soon reach
two thousand tons daily, and the
monthly income of Alvarado will be
increased to not less than $500, 900. He
has been offered fabulous sums for the
mine. but all offers are promptly de-
clined His sole ambition is to develop
the mine and to spend his income as
rapidly as possible. He has helped
many of his old-time peon friends in
a financial way, and the lower class of
Mexicans at Parral adore him.