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Rh is in copper mines. To a smaller extent in iron mines and nitrate deposits. Up to the end of 1916 six American companies had invested $59,000,000 in such enterprises. At the end of 1920 the same companies had invested about $119,000,000.

Estimates of $100,000,000 for the total investment of American capital in Chile in 1916 and $200,000,000 in 1920 appear to be reasonable. The American investment in Chilean copper mines has been very profitable, the three great properties—Braden, Chuquicamata and Potrerillos—having proved to be worth a great deal more than has been put into them, although they have not yet begun to yield the profits that are confidently to be expected from them. However, the acquired value is reflected by the quotations for the shares that are listed on the New York Stock Exchange and some investors have realized anticipated profit by the sale of their stock.

Colombia.—The United States has put some money into gold and platinum mines, oil lands, banana lands, municipal loans, etc., in this country, but no definite figures seem to be available. Perhaps $10,000,000 would cover everything at the end of 1916, and $30,000,000 at the end of 1920. At the end of 1920 the United Fruit Co. reported $2,829,649 invested in this country. On the other hand the United States owes Colombia $25,000,000, voted by Congress in settlement of claims against Panama.

The South American Gold and Platinum Co., the the Latin-American Petroleum Co. and the TransContinental Oil Co. are a few of the large American companies operating in Colombia.

Ecuador.—The United States has but few invest-