The Washington herald., 1920-01-23
Financial Neus---Stock Marker Prices
LOAN FOR PERU
TOOPEN RAILS
Holland ForeseesN New Trade
When Pan American
Cap Is Filled.

Joseph p. Grace. who has sue
,ceeded his father. the late Mayor
William r. Grace. as the president
of the international Commercial or
iganization which Mayor . Grace
founded. must have heard with
pleasure a statement made by DR..
Fernando c. Fuchs. who Is minis
ter of finance of Peru and who is
now In Washington as a delegate
from Peru to the Pan American FL
nancial Conference.
DIR. Fuchs is quoted as having
said within a few hours after his
arrival at Washington that he con-
sidered the question of perfected
transportation in the various South
American nations represented at the
conference as the most important
matter to come before the confer
ence. For upon the high develop
ment Of transportation, railway and
steamship. will in great measure
depend the securing of the prosper
ity of the South American nations
which means SO much to the United
States in the way Of increased
trade.
Tobacco Tax Set Aside.
DIR. Fuchs went into some detail.
saying among other things that the
Peruvian government has set aside
the tobacco tax as security for
loan which. when floated. will serve
to complete the Peruvian section OF
the Pan American railway system.
IL was Mayor Grace. in association
with his brother, Michael p. Grace.
who organized the syndicate, partly
English and partly American. which
furnished the funds for the compile
tion of the railroad from Lima up
r<tffe Andes Mountains to the divide
at an altitude of 1900 feet. 1t is
one Of the chief marvels of railway
construction to be found anywhere
in the world. From the divide.
American capital. which is in pos
session of the Cerro de Casca cop
per mines, constructed a railroad
which gives these rich mines ade-
quate transportation facilities to
the United States. Now. DIR. Fuchs
states, that Peru. having obtained
loan, will complete the Peruvian
section of the Pan American rail-
road.
If DIR. Fuchs forecast be accurate
the construction of this contempiat-
ed railroad will justify the predic-
tion made by Mayor Grace some
years before his death. that the day
was not distant when the Peruvian
link in the Pan-American railroad
system will be built. and when this
is done then a long step will have
been taken towards the completion
of a railroad system which will
make IL possible to take a Pullman
car either at New York or Chicag go.
or on the other hand at Buenos
Ayres. and travel without break
between these cities of the North and
South American continents.
Mny BE Finished In Ten Years.
When Peru has finished her Sec
tion there will remain comparative
ly little to be done. 1t is possible
that within the next ten years this
inter continental railroad will have
been completed. 1t will serve to de-
velop almost inconceivably great
commerce between the United States
and the South American nations.
As though to emphasize the state
ment made by DIR. Fuchs announce
ment was made shortly after he
thus spoke of the operation early
in February OF a through limited
train between New York City and
Mexico City. This train will run
without a break anywhere. 1t will
be made up after the manner or the
most luxurious of special trains of
the United States. There will be no
delay at the border excepting that
(which will be due to the examina-
ton of passports. 1t will carry a
company of distinguished American
industrial leaders who are to partic-
| ipate i'm the trade conference which
is to be held in the City of Mexico
! in mid-February. HOLLAND"