New-York tribune., 1905-08-06
DEVELOPING NICARAGUA.
$50, O,0OO,OOO Company zcith 5000
Nile Concession to Build Railroads.

One OF the biggest undertakings entered
into by Americans in a foreign country has been
brought to light through the establishing, within
the last few DAYS Of United States consulate at
Port Deltrck, Nicaragua, where are situated the
headquarters Of a syndicate composed Of men
largely interested in the Standard Oil Company,
the steel industry. the big railroads, etc, which
has secured from the Ncaraguan government ex-
elusive concessions for the construction of rail-
roads and the development Of the mineral re-
sources of "A territory embracing $4,000 square
miles nearly one-third of the entire republic.
Port Deitrick, which is named after James Del
trick the managing director of the American syn
dicate was formerly known Cape Gracas a
Dios. and is the spot where Columbus first landed
on continental America. The American syndicate
has now made it hustling little city. with up
to-date wharves custom house, hotel. stores etc
Edwin w Trimmer recently United States
merclal agent at Buehelds. Nicaragua. has been
appointed consul.
1t was only lately that the mineral wealth OF the
land attracted the eye of United States capitalists
For some time considerable prospecting and de
velopment work has heen carried ON quietly by
Americans Who have now decided to begin. work
d0a viii he expended in railroad construction min
ing equipment. etc. All the necessary financial ar
The United States and Nicaragua Company is the
name of the concern which will develop the mineral
resources of the concession. The company is cap
italzed at $2OOO0O00 II holds the exclusive right
per and other minerals, OILS Goa! ana precious ,us
stones. and the use of the waters and timber with
tincluding the state of Estelt now merged with and
forming parts Of the States of Jinotega and Sc
govia) This territory extends almost the whole
width of Nicaragua from the Atlantic to the Pa
cifc Ocean, along the northern border Its area
is nearly 10000.O00 acres.
Subsidiary to the United States and Nicaragua
Company and composed of practically the same
element is the Great Central Railway Company,
with a capital of Sl0O000o. whose special function
is the affOrding and management of the railroad
and steamboat facilities by means of which the
products of the territory controlled by the parent
company shall be brought market. This In
wolves the sole privilege OF building and operating
railroads telegraph and telephone systems within
the limits of the concession and of running steam
boa the Cocos River, which is about two hun
dred and fifty miles long The company also pos
sesses the exclusive wharf, warehouse and custom
house privileges at the mouth Of the Cocos and
along the river
Among those primarily interested In both enter
prises are James A. Lockhart Alexander d. Pea
cock one of Andrew Carnege's old partners;
Thomas r. Ritter. the Pittsburg steel man. John
r. McCune OF Pittsburg; Robert Pitcairn, assistant
TO the president of the Pennsylvania Railroad;
Dwight W Pardee secretary of the New-York
Central lines. and l.. J. Rees OF the New-York
ba hiking house of Zimmerman & Forshay. Mr..
Ritter is chairman Of the board OF directors of the
United States and Nicaragua Company, and Mr.
Pitcairn is chairman of the board of the Great
Central Railway Company