The Washington herald., 1918-09-14
COPPER
YIELDS WEALTH
Completion Of Railroad d
Benefits Investors,
Says Holland.

When the late William r. Grace,
who was twice mayor OF New York
City. in association with his brother.
Michael P. Grace, and with the aid
OF English capital undertook to COM
plete the wonderful mountain-climb-
ing railroad from Lima to the summit
Of the Andes. 1900 feet above the
sea, he had in mind. as had his as
sociates, the possible high develop
ment OF the Cerro de Pasco copper
mines
He did not. however. foresee the
purchase Of these great copper prop
critics by American capitalists. think
ing instead that English capital might
secure and develop the mine.
Mt Grace believed that with the
completion OF the railroad from Lima
TO the divide upon the Andes there
would speedily follow railroad con-
struction whereby transportation
would be furnishsl from the mines
70 the seacoast by way of the national
railroad OF Peru. He was also per-
sUaded that sooner or later the COM
plCuon OF this railroad would be fol-
lowed by railroad construction into
the very rich and virgin wheat belts
OF eastern Peru, in his opinion un-
surpassed in their capacity for the
production Of wheat of high quality
by any other wheat belts in the world.
The CerrO de Pasco mines yielded
rich stores of silver to the Spanish
adventures. They obtained and sent
millions Of pounds of silver to Spain.
The only method Of transportation
from the mines to the seacoast was
by the use Of the llama, the principle
beast OF burden OF earlier days in
South America.
l. was presumed that the Spaniards
had exhausted the silver deposits in
This mine. for II ey abandoned it. But
II was known that il contained very
rich ana almost ineNhaustible stores
Of copper. but that was a metal for
which the Spgniards did not care. As
Mayor Grace predicted there speedily
followed on the completion Of the
railroad from Lima to the summit of
the Andes the construction OF con-
meeting railroad whereby transporta-
ton to and. from the Ccrro de Pasco
'-tae5 was made possible.
Long iJlStnnce copper.
/ was evident to the men Of large
business capacity that the advent of
the era OF electricity. the building of
trolley lines. the nationwide exten-
EoI OF telephone systems and the
Utilization Of copper for other pur-
0.aE would create a demand for the
u which not even the wonderfully
..rh deposits OF the far west would
.r.Iy meet. Therefore the eyes of
the copper mon were turned to other
nI of the world The Guggenhein1s
50 .1red concessions from Chilli where
#r they are able to obtain great
.E10unts Of copper. and the value and
Importance OF the concession are rep
'snted by the direct and indirect in
FCEcmCnt Of something like q hundred
million dollars in this Chill copper
property.
SUIT the mines Of Chill are no richer
i'm copper deposits than those Of
northern Peru which were secured BY
American capital At one time it
WIS the purpose Of those who were
v0lopinE this property TO build
ral.Toad northwest to a convenient
I-T6OT in northern Peru. Joseph 2.
Grace. who has succeeded his father
as the head Of the William r. Grace
< Co. corporation. is Of the opinion
that the railroad Will he built and
viii be opera ted some day.
Tho acquisition by American capital
o, these ancient mines in northern
Peru has made it possible to add con-
s'iNr1hly to the worlds stock of COP
per These mines and those OF Chilli
and probably in a few years the very
rich copper deposits Of Bolivia will,
With the vast American output of
copper. probably make the demand for
tho metal, great as it is sure to be
after the war fairly well met by the
supply.
A New and Great SmeIter.
within a day or two announcement
has been made that the Ccrro de
Pasco Copper Company is speedily to
build a new smelter at Oroya. Peru.
This town is at the summit Of the
Andes and was the terminal of the
wonderful railroad which Henry
AEeiggs partly built from Lima up
the mountains and which the Grace
syndicate finished some years ago.
The town is connected with the
mines by the railroad which was con-
struCted after the national railroad
was brought to the summit Of the
Andes.
This smelter Il Is expected will
have a capacity OF about 100000
pounds. The magnitude OF It is sug-
Eested by the fact that it will cost
about 10000 to establish the plant
and the earnings Of the company are
sufficient to make It possible to meet
this cost out Of the earnings. This
fact alone demonstrates the success