Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/82

60 A considerable amount of American capital is invested in iron mines, copper mines, manganese mines and other mineral deposits in Cuba. Since 1916 there has been but little new investment in this kind of property, a total of about $2,000,000 in iron and manganese mines being inclusive of everything. On the other hand, investments aggregating about $9,000,000 have been abandoned. The total of American mining interests in Cuba may be put at $27,500,000 at the end of 1916, and at $20,000,000 at the end of 1920.

There is also a large amount of American capital in public utilities, in the tobacco business, and in the wharves and docks of Cuba. The Cuban Telephone Co. has an investment of about $15,550,000. The United Fruit Co. has $37,126,743 in property in the island, largely in the sugar business, but including $6,332,700 in railways and nearly $5,000,000 in merchandise and materials. The total American interest in Cuba may be reckoned roughly as follows:

1916 1920 Sugar plantations and mills........ $300,000,000 $375,000,000 Railways... 2.0... cee cece e eens 45,000,000 65,000,000 Mines, chiefly iron.............-.. 27,500,000 20,000,000 All other........... 0.0... cece eee 27,500,000 65,000,000 Total......... 0. cc cee cece eee $400,000,000 $525,000,000

Without any doubt a good deal more money has gone into Cuba during the last four years than the above figures indicate, but equally without any doubt a great deal of it has been lost and drastic writing down of capital investment is necessary.

Although this is a British colony, the investments of Great Britain in its enterprises are not