Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/73

Rh ously to America’s entry into the war fortunately gives us a good starting point in so far as investments in South America are concerned.

Argentina.—The United States has a relatively small investment in the industries of this country. The largest single item is in meat packing establishments, in which about $12,000,000 had been invested up to the end of 1916, largely by the Armour and Swift interests. In the bonds of the Central Argentine Railway we had $15,000,000. All told the United States may have had $30,000,000 invested in Argentina at the end of 1916. Since then there has been some extension of the interest in meat packing. The International Portland Cement Co., through the Argentine Portlant Cement Co., built a cement manufacturing plant at Buenos Aires. The National Lead Co. has engaged in the manufacture of white lead in the country and some other concerns have instituted small enterprises. In general, however, the eyes of American investors have not yet been attracted extensively to Argentina outside of the national bond issues. Probably $40,000,000 will fairly represent the total American investment in Argentina at the end of 1920.

Bolivia.—The United States has some investments in Bolivian mines, but these are relatively small. In the notes of the Antofagasta & Bolivia Railway there was $3,000,000. An estimate of $5,000,000 total of American money in Bolivia at the end of 1916 will be conservative. Since then a rather large amount has been put into tm mining, and there have been at least two large investments in prospective petroleum lands.