Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-11
NEW ROAD IN BOLIVIA
American Syndicate Is to Build
important Railway.
WILL OPEN RICH COUNTRY
Union Theological Seminary to Build
on New Site.
HAS HAS WONDERFUL GROWTH
Andrew Carnegie Gives a Million
and a Quarter to Found a
Scotch Hero Fund.
B0 WILLIAM f. CURTIS.

By WILLIAM f. CURTIS.
Special Correspondence of The Star and the
Chicago Record Herald.
NEW YORK, December Q, 1908.
Two years ago the government of Be-
livia granted concession to an Ameri-
can syndicate, represented by James
Speyer & Co. and the National City Bank,
to build a system of railways within it's
territory. Ten million dollars was re-
ceived from Brazil as indemnity for the
REIMBURSEMENT of the title to a disputed
province called Acre, and is deposited in
New York and London banks. What
ever sum is necessary after the expendi-
ture of this fund may be borrowed under
a loan guaranteed by the Argentine Re-
public and the republic of Chile.
Under this concession about 125 miles
Of road have been constructed from La
Paz to Oruro. where the line connects
with an English railway running from
Oruro to Antafogasta, on the Pacific
coast The plans adopted include the ex-
tension of the American road from Oruro
to Potosf. where are the silver mines
that have been one of the wonders of
the world, and from there to Tupiza, on
the boundary of the Argentine Republic,
to connect with the railway already con-
structed to Buenos Aires. When this
line Is finished it will be possible to cross
the continent of South America by rail.
Will Merge With Antafogasta Road
The line from Oruro to Potosi, however,
would practically parallel the Antafo-
gasta road as far as the town of Uyuni,
and not only create competition which
neither road can we'll afford, but would
necessitate the expenditure of about $1O,-
100000, whereas the cost of building from
Uyuni to Potosi will be only about
S4OOO,OOO. For that and other reasons it
has been thought advisable to arrange a
consolidation between the two railway
systems. and Mr.. 1gnatiO Calderon, the
Bolivian minister at Washington, has re-
ceived notice "that his government had
modlned the concession granted to the
American syndicate In order to permit the
amalgamation to take place.
The terms were arranged in London last
summer by James Speyer, representing
the American syndicate, and Baron
Schroeder, who controls the Antofagasta
line. This agreement, however, was SUBJ
ject to the approval of the Bolivian gov
lean concession. The legal steps having
been completed, the financial arrange
ment will now be promptly concluded.
The Antofagasta railway, which now has
a narrow-gauge track. will rebuild its
entire line on a three-foot gauge, and
capital stock and one-half of the $18,-
10000 bonds of the American corporation.
1t will also guarantee the interest and
principal of the bonds maturing in 1927,
which have already been guaranteed by
the Bolivian government. The name OF
the new company Will be the Antofagasta
and Bolivia Railway, Limited.
The saving in construction will be
sufficient to pay the cost of building a
road from Oruro to Cochabamba, on the
eastern slope of the Cordilleras, and one
of the most important towns in the coun-
try