El Paso herald. (El Paso, Tex.) 1901-1931, 1915-01-30

bank and practically the same with
the French
Europe Does Big Business There.
Few Of our people at home have any ldea
OF the enormous business that Europe is
doing with the South American countries
The influx OF capital is now stopped on
account OF the war. and the additional
money Of the near future must come from
somewhere else than France, Germany ana
England In the past the most Of IL has
come from Great Britain and the total IN
vestments Of that country in our sister con-
tineuL have already run into the Dllllohs-
J have before me the figures OF Sir george
Parish as. to what England has invested IN
south America. The amount in Argentine
is 81 500. O00. coo: in Brazil. S739,OOO,OOO; in
Chile. sos. 600 900; in Peru, about Sill
600. 900. and I'm the several other countries
over $3.50. 600 600. This makes a total OF
about $4,000 O00.000 all told and the most
Of the investments are paying big diyl-
dends Within the past seven years the
total Investment has been; Tor Argentine
about 100000. 600; FOR Brazil, SA40O00,OOO'
and for Chile. $4,000 600. In 1913 the
English put out almost 5000. 100000 in Brazil
and Argentina. and they would be incrcas-
ing such investments today II the war were
not on.
The above figures bulk large. but South
} America is a big continent. and It is only
at the beginning Of its development The
Argentine Republic has already an enor-
nous business. It IS land Of big cities
{ big farms, big banks and all sorts OF bis
I industries.
| There are only two cities in the United
States larger than Bucnos Ayres. and these
I are New York and Chicago. There IS one
| native bank here that has capital OF over
/ $50. 00O. 000 and its deposits are more than
Sf00 600. 900 I'm paper, or very close to $1,000
/ 600 in gold ] refer TO the National Bank OF
! Argentina. which has altogether $50 branch
/ es scattered here and there over the re-
! public.
/ I'm addition. there are many other native
/ banks and also the great foreign banking
in ST
I i'm Europe. Tho number Of principal banks
/ enumerated in the Argentine Yearbook arc
{ about go, and outside these are many other!
/ which do more or less business.
Nearly every Buenos Ayres financial In
stitution has its branches I'm other cities
/ and an are more or less associated with tbs
J industrial and railroad interests OF tht
Has Real Estate Lean Bank.
One Of the most important Of the nativ,
banks is the Banco Hipotecario Nacional
I which lends money on real estate mort
I cages and in lieu OF cash issues bonds there
for. which are payable to bearer. Thel
( pass from hand TO hand. The bonds arr
( known ass ccdulas. and are guaranteed b!
the government They bear 3 or percen
interest. and there arc special provisions a
20 their redemption. OF such bonds $3.50,
100000 worth had been issued in 1909. au'
the bank has now assets Of between five an'
si@ hundred millions Of dollars.
Tho law requires it TO place 20 percent o
fits profits TO q reserve fund and it's safct,
is carefully guarded. Loans arc made o1
farm lands at a low valuation, and on lot
in the cities at 60 percent OF their assess
meut on Vineyards of rot less than fou
years cultivation loans can he granted "a
to so percent of their valuation. and build
inE construction loans up to so percent o
their assessment.
No Hore Than Six Percent.
The rate Of interest on the bonds may no
exceed G percent and al loans are subjcc
90 annual reductions OF I percent rhi
bank has been in operation FOR almost 3
years. and 10 is said 30 have had much L