The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-08-04
PERUVIAN COPPER
RICH INVESTMENT
American Capital Wins Heavy
Returns Despite Fall
in Prices.
NEW SHELTER INSTALLED
Cerro de Pasco Corporation
Largest of Several Good
Paying Properties,
BY CARLOS GIBSON.

First Secretary Of the Peruvian Elm
bdssy, Washington.
Written Especially for the Latin Amor
icun Section Of THE SUN.
Surprising results have been derived
| from the investment Of American capita
| In different enterprises In Peru. Tne
principal and most important 10 the
Cerro de Pasco Copper Corporation
whose gross earnings for 1918 from tnt
| sale of copper amounted to s23.s6I,SoI
Notwithstanding the momentary faii II
the price Of copper. while the pronts toi
1917 were s2,1oe,275 higher, with net re-
ceipts of S5,o7s.Ses and s4.s9S.ss2 a.
dividends
The original capital Of this company
was $40, 100000 and the claims which II
has registered with the Peruvian GOV
eminent now number 1900. which rep
resent an extensive area OF most vnlu'
able property situated In the heart OF
! the richest copper district Of the world.
The value Of the properties is In
creased by the coal mines OF Collaris-
quisca and Quishhuarcancha; by water
rights and agricultural establishments OF
more than $4,000 hectares inextent; py
the hydro-electrio power plant OK La
Oroya OF more than $4,000 horse power
and lastly by the smelter, which daily
II eats hundreds of tons Of ore. the whole
concern employing more than $1,000 per-
sons In the mines and offices, all earning
very good salaries and we'll looked after
in the buildings erected for the purpose,
which include a model hospital eQuipped
with the most recent appliances. The
monthly net income of the concern II es-
tinated at 100000, produced by its
Cerro de Pasco and Morococha estab-
lishments.
A new smelter, that Of La Oroya, has
recently been started. capable OF treat
ing 1000 tons Of ore daily. 1t In worthy
of note that the Cerro de Pasco Copper
Corporation "a able to place its copper
on the New York market at the lowest
possible cost--as low as any other pro
Queer and lower than most This result,
Mr.. Harding stated at the last annual
meeting of the company. during which
he furnished much interesting data on
the work accomplished. Is due TO ths
high proportion of gold and silver wmcn
the ore contains and the cheapness oa
labor In Peru. Apart from the zoo
American, British and Canadian en-
ployees working for the company, the
remaining 5000 are natives belonging TO
the mountainous regions OF the ANDES
and able, therefore, to Withstand iapor
ia the mines without hardship.
The Morococha Mining Company owns
about 1900 "pertenencias." or claims
situated In the district Of Morococha.
with a powerful plant Of $4,000 horse
power for the exclusive use Of the mines
This IL another Of the very fourishing
American concerns Of the region.
Tho Cerro de Pasco Railway COM
pany carries the ores and metals from
the mines to the port OF emoarkauon'
taking advantage of a branch line which
mites Cerro de Pasco with the Oroya,
where II Joins the Central Railway.
which continues on to Callao. The
branch line Is 132 Kilometres long its
freight rates are fair and the rolling
stock comfortable and well cared Tor.
The barometer for approaching the
DEVELOPMENT of the district Is undouoteo-
ly the returns of the railroad wnicn.
with it's shops and regular schedules. CO.
operates efficiently with the neighboring
towns for their advancement The con-
tinuously prosperous condition OK TINS
limo can be appreciated by the tact that
since 1914 to date the monthly quantity
o: mineral freight conveyed has been
4ss,5 tons
Other American companies Of no less
Importance, although they have not de-
yeioped as rapidly as tho above men
toned. arc to be found in Queduipa,
Carabaya and Sandia, southern provinces
OF Peru. Such are the Andes Explora-
tion Company, which works the copper
mines OF Cerro Verde; the Inca Mining
Company. the Inca Gold Company. both
gold mining concerns: the Inamoari
D, edging Company. which achieved very
rood results from the drainage of the
suriferous rivers In tho region from
which the company takes It's name, and
the Humboldt Gold Piacers Company.
which exports considerable quantities OF
rold obtained from Montana dc Puoo.