The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1915-02-02

NV letter of credit is on London IS
sued by the Riggs National BANK OF
Washington, and until now | nay
done bv business here through tne
Ran Aleman Transatlantic, which
is one OF the correspondents OF the
London bank upon which my credits
are drawn. The Riggs National BANK
is closely associated with the Ne"
York City Bank. n any credlts
may have in the future Will go
straight from one continent TO the
other.
There is a great deal OF Italian,
French and Spanish money invested IN
Argentina. There are three large
Italian banks, each of which has a big
capital, and there is one Spanlsh
bank with a capital of S1OO, 600, OU0
in paper, equal to $4,000, OoO IN gold'
and, and a surplus Of over $40, OO0 O0O.
This is the Banco Espanaol Rio de la
Plata. 1t was founded twenty-nine
years ago, and it now has sixteen
branches in the Federal capitl and
more than forty in different parts of
Argentina and Uruguay. The capital
of this bank is larger than that Of
and it has long been paying big divi-
dendS.
AS to the French banks, the Banco
Frances del Rio de Ia Plata, founded
about the same time as the Spanish
bank, has a capital Of $40 100000 in
gold and a surplus Of over 5000, 900.
It's profits run from W to three mil
lion dollars a year, and il recently is
new stock at 40 per cen premium,
and this was subscribed for twice over
by the shareholders.
About the biggest Italian bank is
the Banco Italia y Rio de la Plata,
which has an authorized capital of
$40, OOO, 900 in gold.
Nearly all Of the banks OF Argen-
tina are making money. The inter-
est rates in ordinary times are from
8 to 10 per cent, and in hard times
ike the present one percent a month
is easily gotten, and the loan brok-
ers charge more. One bank in
BuenOs Aires had last year about T.
900 applications for loans amounting
to something like a hundred million
dollars in gold. The profits Of the
Banco Espanaol in 1913 were more
than FIVE million dollars, and the
Banco Italia made more than one
million with it's lesser Capitalization
The Banco Italia paid that year II
per cent which vas the same amount
Of it's dividends for 1910 or 1911. The
Anglo-SOuth American Bank has been
giving dividends from 9 to IL per.
n British Bank of South America
pays from 10 to Is per cent and the
London and Brazilian Bank all the
way from Is to II per cent, running
at times as high as 20 per cent. The
BancO Aleman has paid 9 per cent
for a number Of years, and the BancC
Espanaol pays II per cent on it's com.
mon stock and over 80 per cent te
the holders of the founders shares
) A large amount of these great pro.
!, fits are made in investments outside
; the banking business, and the mer
interested in the banks have stool
: IN the best dividend-paying corpora.
tons. In order to show something O
$ what the country is doing industrally
! institutions. The Argentine Naviga
ton Company. founded by a sailo.
: known as Mihanovich, is capitalized
at $1O.00O.OO0, and it pays dividend
OF from 9 to II per cent. The Liegl
Extract Meat Company has a British
capital OF over five millions and i
e pays dividends Of 20 per cent, Will
Q the La Blanco Cold Storage Company
packed by the Armours, has paid a
b high as IL per cent. The La Plat:
Cold Storage Company owned by tn
d Swifts, has a capital Of two and one
S half millions and it undoubtedly doe
e Well. The River Platte Fresh Mea
Company has paid dividends up to 1
per cent and the Smithfield and Ar
gentine Meat Company pays 10 pc
d cent. One of the street railways q
IS Buenos Aires is paying Z per cent an,
X the other s, while the city waterwork
pay from 4 to 7 per cent. Among tn
is money makers of small capital is
" whaling company. known as h Ar
e gent1na de Pesca~ It WINS fou
steam Whalers and it makes from 2
20 to SO per cent per annum Upon a can
i~talization Of 5000, 900.
IS The electric light companies pa
D from s to 20 per cent, several iro
ID steel companies from Z to 20 Pc
20 cent, and insurance companies fror
nothing to 20 per cent. Some of tn
Is savings banks pay their stockholde1
III as high as 20 per cent and some G