Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/85

Rh by the Latin-American Division of the Bureau of Foreign and Domestic Commerce, the amount of American capital mvested in Mexico in 1912 was $1,057,770,000 of which $235,464,000 was in railway stocks and $408,926,000 was‘in railway bonds, a total of $644,390,000 in railway securities of both kinds. This would leave $413,380,000 for other investments. Probably there was not very much change in the American investment in Mexico between 1912 and 1916, a period of political troubles which made American capital averse to putting any more money into Mexico. Nothing but the petroleum industry was thought to be worth the risk. Certainly there were no important additions to the mining investment.

The railways of Mexico were built orginallyoriginally [sic] by American capital. Subsequently (in 1914) they were taken over by the Mexican Government, but a good deal of American money is still loaned upon them. According to the Guaranty Trust Co. the amount of such loans outstanding, Dec. 31, 1920, was $152,827,675. Another statement of the Mexican railroad bonds on the New York Stock Exchange, with amounts outstanding and latest market prices, is as follows:

Amount Markel oulstanding price

Mexican Cent. prior con. 58..........-....--- $ 1,374,000 Mexican Inter. R. R. prior lien 44a, '47....... 5,850,000 first cons. 48, °77......... ccc cece eee e ees 4,206,000 22 National R. R. of Mexico prior lien 4}4s8, ’26... 23,000,000 29% firat cons. 48, S].......... 0.2 c cece eee ees 69,000,000 27 National R. R. of Mexico gen. 48, '77......... 50,748,925 27 prior lien 4}48, °57....... 0... cece e eens 84,804,115 211g 3-year notes 68, °17.......... 0... cece cnn 2,460,341 2-year notes 68, '15..... 200... ccc cece ee eee 26,730,000 Pan-American R. R. first 53, '34.............. 2,003,000 Vera Cruz & Pacific first 4}4s, '34............ 7,000,000 27

AC 7.) pn $277,176,881