Evening star., 1915-06-03
Group of Pan-American Dele
oates in New York Selling
Her Securities.
KNIT NATIONS TOGETHER
THROUGH INVESTMENTS
Also Are Pulling Hard for Direct
Steamship Servioe-Main Party
in Pittsburgh Today.
BY EARL GOODWIN.


PITTSBURGH. Ia. June 3.-llow the
fnanciers of Argentina are attempting
to switch billions of dollars OF Eu-
ropean investments in the southern re-
public into United States stocks ana
bonds is one of the topics of converse
tion by the South and Central American
delegates to the recent pan-Amerlcan
financial conference tour. who arrived
here last night to remain until tomor-
row afternoon In each city requests
have been made to hear from the
Argentine delegation but that little
group of live wire tinancierS is not with
the tour. Its members are quietly al
work in New York and elsewhere. en-
deavoriug to transfer an enormous
amount of investments to United States
pockets.
If this could be done there is reason
to believe that Secretary McAdoo, who
is responsible for this conference and
tour could easily state that one of the
biggest specific elements of continental
solidarity had been brought through
to full fruition. Europe has untold
wealth invested in Argentina. II has
been said by an authority on this trip
that England alone had $1,000, 900, oc0. Cast
Englands. bit into the general lump and
what an enormous chunk the
United States is asked to asSimilate all
at once. But at the same time realize
how much more closely knit the two
republics would be if all of those in
vestments-ship, mines. cattle and land
were paying dividends to men and
women in this country. one of the
delegates expressed in this way:
Samuel Hale Pea rson IS endeavoring
to sell to the United States everything
in Argentina. And he has brought
with him Senior Aldao. the best corpora
tion lawyer in South America.
ChiIea, Nitra+es
Another matter of interest to the
delegates and spoken Of frequently in
their conversations is the matter OF
Chilean nitrates. William REID, the
Pan-Ameri-an Union representative
aboard the train. says he Understands
there is a billion dollars worth of the
raw stuff out of the mines and on
the ground. waiting to he shipped.
Heretofore Europe has taken about
three -fourths OF this product, but the
stuff is not moving now.
The Chilean delegation wants to find
some way OF arranging affairs SO that
the United States may take a large
part of that terrific load of nitrate. The
trouble with it is the United States
has not enough retineries to ;.ssiInlate
that great load of raw citrate, and it
is possible it Will be Some time in
getting enough, So. with the condition
of trade between Chile and the United
States on this important item, the mat
ter of this country's ability to as
similae nitrates in a hurry is as grave
as the lack of ships.
There is considerable talk among
the delegates about the steamship mat
ter, too. They know that the admins
tration is pleased with the minority
report of the Washington transporta-
tion committee, which looked to gov
ernment ownership and a com bination
of the various countries One of the
delegates said today that Brazil, Peru
and Chile, which already have gov
ernment-owned lines. would be willing
to place their steamers into the com
bination at an appraised value and re-
ceive stock in return.
They also believe that the steam
ship laws of the continents of the
western hemisphere must be standard
lied. They believe that unless this is
done government ownership is the only
alternative and that those opposing it
might as well stand from under as it
seems bound to come, from the way
the delegates view it
An incident of a United States ship
taking cargo to two Brazilian ports
shows the need of standardizing laws
culties. The ship can go from New
to Santos again. If the captain wants
all the way back again to New York
coastwise trade. Also ships are sub
country and none in another.