The Birmingham age-herald., 1920-07-12
Daily Financial Gossip
By HOLLAND

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 New Yorw. July 1l.-tspeciaD aD-soon after the new administration is inau- gurated at Washington it's attention will be called to the opportunities which are opening in South America Tor American investment and for the encourages eflt- by Nthe administration ! of those who purpose investement of that Kind. This will be true whether tthe next administration Is republican or democratic. Already in New York i influential men who represent some of the republics in South America are oc- cupied in setting forth to men of finan clal strength what the opportunities | Tn south America are, and why they should be speedily accepted by the 1 United States. if Great Britain and
 later Germany and France are not t. take advantage of them.
 Horace G. Knowles who was former 1 ly United States minister to Bolivia, | narrated today some of the opportuni. ties which have been already accepted
 by American capital, especially in Bo- liVla. The Guggenheims, Mr. Knowles l said, have already invested some sS.- | 0oO,c00 in tin mine properties in Bo- livia.~ and the concession which. they have received from Bolivia is so large that the ultimate investment of oap-
 
 These mines have not yet been ex- plotted. They are apart from the breat tin mines of Bolivia which be- fore the European war began were practically controlled by Great Brit ain. At least the ores were sent to Great Britain for smelling and then were exported to the United States in the form of manufactured tin.
 The Guggenheims have already in vested many millions in rirb properties in Chih, and apparently are seeking further investments, large in amount. in the mineral resources of South America Although tin is one of the humblest of metals there be- ing no romance associated with it nevertheless it is one of the most inn portant of the metal products Of the earth. Heretofore the United States has been completely under the thral- dom of Great Britain so far as sup plies of tin were concerned. Now under the leadership of the Guggen- helms the probabilities are great that they may become independent of Great Britain. For it is the expecta- tion that the tin ores which the Gug- genheims will mine in Bolivia vii, be shipped by way of the Panama Ca nal to the United States Then they will be treated in the large smelting plants which the Guggenheims have established at Perth Amboy on tide water. Another smelting plant for tin ore has been established upon Long Island, and it is to be when com pleted capable of smelting large im- ports of tin ore.
 THE UTAH STALE
 It all depends upon the cost of man. ufacture and transportating the petro- leum bearing shale whether or not the utilization of the shale mines in Colo rado and Utah can be made commer- cially practicable. One of those who have inspected the shale deposits ia Utah and who is now in New York, not seeking the promotion of any corporation, but only to tell from the point of view of science what the Utah shale may be made to do, said this morning that examination shows that this Utah shale extends from 400 to 800 feet beneath the surface. It is very rich in carbon and hydrogen It is easily mined for steam shovel will do the work at comparatively low cost. The experts who have made tests report that the Utah shale when developed, ought to yield about 300, ,00t barrels of oil for each acre, and there are many thousand acres awaiting development. So many re- ports of this kind have come recently to New York as to justify the hope of the leaders in the oil industry that if there should come considerab ble ex- haustion of our own petroleum de- posits. these can be more than made good by scientific treatment of the shale in Utah and Colorado.
 STILL HUNTING FOR PAPER
 The United States is not the onl9 where the shortage in news- print paper and in fact other paper is now causing serious embarrassment.