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BARRETT TO RESIGN PAN-AMERICA- N POST Director-Gener- al Will Head, Unofficial Organization, Washington, Nov. 9,- - At the first autumn meeting lat Wednesday of the Union governing board. composed of tho Secretary of 8tato of exports. LAW OFFICE OF Dr.ALBERTOSALOMON McmberoFAmeiicaruUwyersAssociation Corporation Work, Patent tt Trade Marks. Collections. Real Estate Mining & General Legal Business CALLE SAN PEDRO 363, P. 0. Box 1197. Um. Peru FOR EXPORT , Durabla paper and pulp ma- chine wire clotha and wlro clothi for any and all pur- pose. JOSEPH O'NEILL WIRE WORKS Southport, Conn. CoMe Address O'SVlht, KOVT11PORT, CO.V.V. Coal find BANCO for -- DE B010U. CarUteu, Medtlllo, Manlralcs, Call, Honda, PERU BANCO its DEL PERU Lima, CMc-lay- o, I Trujtllo BANCO DE CARACAS La BANK OF BRAZIL Fan, OF BlnefltldSj Leoa, in all t DE CUBA Habara OF An La Celba, 4 PINE Saa Pedro sh, Patrta Corte Paris his Intention to retire at the end of tho fiscal year, June 90, 1920, from his position as executive officer. Ho that having dovotedlilm-l- f for twenty-si- x years to- public life, and nearly fourteen to the of tho Union, he found In middle Ufa without sufficient means to core for hU later years and was compelled to resign In order to make such provision whoa there, was a demand for his emphasizing that credit was due Just as much to others as to himself, he pointed out that whether his administra- tion had been a success or not must be by conditions of y with those ot fourteen years ago. Then the Union owned no homo or property, now It possesses and grounds valued at f then, its stare numbered about now, seve- nty-fly j then. Its annual income was ?50,000, now. then. Central und South America were little appro elated In the relations of the linlted States, sow, they hold the fore most placo In Its International affairs; then, commerce was valued at less than per annum, pow. It has passed the mark ot $2,000,000,000, or an Increased ot over soo per cent. On good It can be that Sir. Barrett may become president ot a new unofficial backed by leading men ot all tho 'American opuntrles, which, Ing to present will be a compre-heiiBl- for the development of com- merce and good will and which, because of Its may seek a spoclal United States charter' direct from Congress, ixponts. CoK Pig' Iron Matlack Coal Iron Corporation 52 Vanderbilt Avenue . NEW YORK CITY YoyR Business in Boston Will be greatly facilitated1 if you transact it- through this institution, which offers you the most complete and efficient service in department ,of banking. The FIRST NATIONAL BANK OF BOSTON Deposits ) s $170,000,000 Resources, over $260,000,000 Branch Aires, Argentina BANKING FACILITIES TO AID PAN AMERICAN TRADE and importers EXPORTERS States will adequate banking facilities extension of their foreign provided by the MERCANTILE BANK OF AMERICAS through its. in France and Spain affiliated in Latin services include: Establishing commercial credits Effecting collections Transferring m6ney by mail or cable Issuing drafts Buyi and selling bills of exenange. Financing shipments flhall.be glad to you relating to inter' banking. MERCANTILE BANK THE AMERICAS American Ban for ForeiLtrade ' STREET NEW YORK AFFILIATED BANKS COLOMBIA MERCANTIL the AMERICANO COLOMBIA 'business Barranqnilla, Glrardot, Bucaramanga Armenia, THE branches and MERCANTIL AMERICANO . America. Arequlpa, Callao. These VENEZUELA MERCANTIL AMERICANO Caracas, Gtaym BRAZIL AMERICAN MERCANTILE Fcrrtamboca \ NICARAGUA NATIONAL BANC NICARAGUA Manaru, Granada We CUBA BANCO national MERCANTIL AMERICANO HONDURAS BANCO ATLANTIDA Tefnetfaipa, present explained upbuilding him- self services. While determined contrasting PaaAinerl-ca- n buildings 3,000,000; twenty, $200,000; foreign . $500,000,000 authority stated or- ganization accord' plans, International combination ecml-publl- o character, & every aliBuenos banks serve matters .V..trt!LJA Madrid PERU ENTERS of Rich to Vast to Dry to Give to All of Uy CAIIL09 GIDSOX. Charge d'affaires of the Ptrurtan Em- - last) at Written for the Latin Amer- ican Section of Tin Bust. A brief synthesis will give an In tegral Idea ot tho economlo progress of Peru during the last two years and the of Its enormous resources. Throe problems attract the attention ot the country with Indisputable Insist- ence colonization. lrrlMtlon find rail- - ; ways. To determine thtso to the best advantage for the national progress Is the earnest aspiration of nil. In creeds, opin ions or political partita. For the purpose ot colonization, Peru counts mainly upon her valuable forest lands ot the Montana. With U10 Idea of making theso most availablo to col- onists and Immigrants tho Stato dis- tributes them In three forms: (a) by purchase, at the rate ot 5 soles ($2.50) per hsctare, deeding It to the purchaser In fee simple title ; by rental, upon pay ment of the ran of 1 sol (0.50) for tho area under cultivation and and 2 soles ($1.00) for the uncultivated area; (b) by contract of colonization which requires in. guarantee of 0 soles ($2.50) per hectare, the cultivation ot ten to 100 hectares per colonist or the abrogation of the contract for tho fall-ur- o ot the to fulfill his part of tho contract; (c) a froo allot- ment of two hectares, rcsclndable In threo years It tho colonist does not cul- -. Uvato them, unless he Consents to con-vo- rt tho freo allotment to a mortgage, paying tha rato per hec- tare. In which the contract continues, In short, permanent legal possession may be acquired by punctual payment of the small sum of 6 soles ($2.50) per hectare, or about $1 per acre. . Irrigation Projects Pushed. The Peruvian executives and legisla- tors have given no los3 consideration to the question of Irrigation.- - There Is a vast Irrigable tract, where In proportion to the extent ot territory only small areas are now cultivated. The fertility of the soil Is amply attested by tho in- comes derived from tho exploitation of theso small areas. Thero Is an area along the Peruvian coast of more than 20,000,000 hectares ot land suitable for Irrigation, of which scarcely 500 hec- tares are actually In a state of cultiva- tion. Tho men directing tha affairs of the country are trying resolutely to push forward tho Irrigation projects, a law having been in forco since 1893, before tho actual of the C'water laws\ which authorlxed tho grantos to use in perpetuity any water under publlo dominion for tho purposo of Irrigating tho lands. This act likewise exempts theso Irrigation enterprises from the duty usually imposed upon Imported ma- terials which are required for tho con- struction of hydraulic con- firms tho title to tho Irrigated lands and exemnts them from all taxation for .three years, permits the changing of the course 01 Hie rivers ami ires uao \i nt lands, and besides concedes other franchises. Since 1903 operations have been sys- tematized and placed under tho control of tho Department of Mines and Itlycrs, which has organized tho servlco of 'Irri- gation and has undertaken costly propo- sitions which ore truly an exponent of the loftly Bplrlt of progress which ani- mates tho country. Fonr Itallrond Projeois. Railroads and other means ot com- munication traverse the country In every direction. Hallways extend along tho coast while others penetrate the Sierras to tho very axis of the Cordillera. What tho coun-trt- y desires most Is to enter tho heart of tha unexplored forest region, filled with every variety of rich flora and fauna, a magnificent tract where cab- inet woods, vegetable Ivory and other vegetation and plants abound ; a Imd In which the marvellous Boll yleldi a va- riety of products, whllo the rivers carry gold mixed with their waters This district, perhaps tho richest In the coun- try. Is the one which It Is desired to ex- ploit at all hazards, facilitating access thereto by means of railways. This will bo within a very short time. So far all possible routes have been otudled and without counting the exist- ing roads there are four perfectly feasi- ble projects; (a) tho connection of tho extenslvo railway system which crosses tho southern part of the republlo with the Madre de Dtos River: (b) tho union of the central part of tho country by means of a line which will connect tho Caruamayo station of tho Oroya Rail- road at Cerro de Pasco and the richest copper ' zone of the country with some navigable point either on the Pachltea River or on the Ucayalll (c) tho pro posal to Join the Chlmboto Rauway wnn the Maranon River across the Trans-andea- n Valley of tho same name; and (2) last, the one which has In view tho imlon of this same river with tho port of Palta In northern Teru. In this manner tho Montana will become linked with the central and northern portions of tho ropubllc. Tho Enterprise. Tho transandean railway enterprise promlsos to attain a happy conclusion. This projeot Is designed to link up the ports of tho Pacific with tha Atlantic! by means of a Una which, starting from Ninacaca at kilometer twenty-fiv- e on the Oroya Railway, will extend to the .Pa- chltea. According to recent official, Informa- tion tho Peruvian Government has de- cided to undertake this vast enterprise, perhaps tho greatest undertaken In South America within. the last decade. Indeed, the transandean line will sur- pass, both In Us conception and execu- tion. Um most favored projects ot lines of penetration to the tributaries of the Amazon and tne mugan uisinci, 10 which Bolivia and Ecuador have re- spectively devoted much attention for many years. This line, which It Is esti- mated will cost About $30,000,000 for a length of 350 miles, will cross tho Andes at a point 8,000 feet abova sea level, al though there is notning remnrsaDie in this In a country like Peru which has constructed tha Oroya Railway, wnicn ascends to a height ot more than 15,000 feet Tho transandean will be promotive from Us first year, as It Is expected to transport 700,000 Ions of freight an- nually, after the first hundred miles hnve been completed and opened for publlo service. Hut the nation, In addition to Us transandean tract, possesses mineral de- posits of great value, distributed 'throughout the wholo longth of Its ex tensive area. To-da- y tho railways In operation, together with those In con- struction, without counting 'the trans-undea- n, there nro no .less than 6,333,473 kilometers, according 'to recent statlsUcs and In order to carry theso to a successful completion tho I Peruvian Parliament has voted a per- manent reserve fund of Lp.\3O ($1,250,000) annual In the budget-- By means of InContestlble facts demon- strated by actual figures and experience tho publlo authorities of Peru havo been persuaded thnt national production will Increase a hundred fold whpn thA exist- ing lines nro abtb to reach Ue copper nnd coal districts ot Ancrhs. Ac, now operated on a very scale. It It only necessary to Ismail that A branch of fifteen miles wqsM THE SUN, MONDAY, , NOVEMBER 10, ERA OF DEVELOPMENT BY COLONIZATION, IRRIGATION AND RAILROADS State Makes Attractive Offers Lands Immigrants Projects Afoot Areas Fertile Railway Construction Tremendous Impetus Forms Industry. Washington, tspeeiafv notwith- standing discrepancies Improvement concessionaire corresponding promulgation undertakings, longitudinally accomplished Transandean publications. 1919. Make development Huanca-vellcf- l, be sufficient to connect tha beetcar-bonlfero- veins of the country, located In Ancos, In tho valley of Chuqulcara, with the port ot Chlnbato. , Grazing Lands nnd Mines. The coast and forest lands, however, do not constitute all the wealth ot tho country. It has a traat known as tho Sierras or' table lands, which consist mainly ot grazing lands and mines. Tho mineral exports from ,Peru averago ap- proximately 305,191 tons valued at be- tween $180,000,000 and $250,009,000. Yet, notwithstanding her enormous min- eral wealth, Peru has Van exploited upon a very small scale, only two provinces ot tho Department ot Jualri export 90 per cent of their production. These metals are of high grade ore, and of an average yield of 8 per cent, from bids worked on a largo scale. No less satisfactory has been the price reached by tho mineral product In tho markets where they aro sold : standard copper, which sold before tho war for Lp. 65 ($325) per ton, having fluctuated between Lp. 180 and Lp. 144 ($860 to $720) per ton, costing less than Lp. CO ($200) delivered In tho New York mar- ket. On this account the production has vastly Increased, as before the war Teru never produced more 'than 30,000 tons of copper annually, and to-d- tho production Is not less than 50,000 tons. Of the above total the American con-cqr- n, Cerro do Pasco Copper Corpora-tlon,,extrac- ts 70 per cent, and although operating with a nominal capital ot $60,000,000 they have actually Invested less than. $30,000,000, realizing a net profit calculated nt about $1,000,000 per month ; tho normal production bolns esti mated nt 3,000 tons per monin ni a cost of Lp. 60 to Lp. 70 ($300 to $350) per ton and a selling price of Lp. 170 ($850). This does not Include any ot the gold and silver also occurring with the coppor. As a proof ot the flourishing condi- tion of this corporation we note that Its stock la quoted In the New York market at $58, with a rising tendency, navwg almost doubled in tne last coupie of months, as It was selling In March at $30, a clean rlsa of 28 points. We also wish to state that the Cerro do Pasco Copper Corporation Is about to Invest $10,ov0,000 In a new smelter In Oroya and $1,000,000 In a railway Una between Morocochn, a district which tho com- pany has recently acquired, and a point on tho central railroad of Oroya, it not having been possible to build a lino across this rich tract, which It exploits, due, not to. lack of funds or the will to do so, but rather to an ngreement wllh tho Peruvian corporation, which lias been In force for over ten years. ' The samo conditions met with by tho copper Industry havo been experienced with the silver, load, antimony, vana- dium, tungsten, petroleum and other metals and mineral substances In which Peru abounds. Silver, for example, which beforo tho war waB valued nt 34d. per ounce has since sold for 40d. per ounce Sugnr Production Increases. Peru's sugar production has increasad from 160,000 to close on 400,000 tons during war times, without a proportional Increase in tho area of tho cultivated cano lands, which was nnd will con- tinue to lie hardly 200,000 acres. How- ever, there aro ready for lmmedlato Irrigation more than 400,000 hectares, at a cost of $1B to $105, according to tha quality ot tho land. From a cost ot 154 to 175 shillings ($37.60 to $43.60) per ton at the ship- ping ports, sugar has sold during the war at an average of 800 shillings In the markets to which It Is exported. Tho price of cotton, of- - which Peru Is also a heavy producer, has certainly been no less flattering. Peruvian Egyptian cotton has sold at Lp. 110 ($530) per ton, and \Aletaflfe\ at Lp. 200 ($1,000), costing no more than Lp. 40 to Lp. 44, according to quality, Tho best of these, which Is considered one ot tho finest grade's In the world, Is a variety peculiar to this country, tho rough cotton of Plurs, so called on ac- count of the region which produces It. It Is possible for one single planta- tion to obtain five good harvests and at tho end of tho third year to reach the maximum production. Almost tha whole national production. Is exported, scarcely 3,000 tons being used ns raw material In the factories established In Lima, Arequlpa and lea, In splta of tho superior quality of the fabric manu-facture- d In the country to that of for- eign Import. High quotations have been reached, not only In the case of sugar and cot- ton, but also In rice, cocoa, wool, hlder and nil agricultural products. Storh and farm products have been exported from Peru In an ever Increasing vol- ume, which In recent years has never fallen below 262,150 tons, valued nl Lp. 8,855,813, or about $44,219,065. A single statement will servo to give an Idea of one of the richest nnd best stocked districts engaged In stock rals Ing concerning the wool produced by tho sheep, vicuna and the llama, of which latter Peru has tho monopoly ol the world and from which over 200,000 tons of wool ore produced annually. According to statistics a moderate estl-mat- o of tho annual cxfiort of wool Is put at C91C.31J kilos, valued at Lp. 1,711,731 (approximately $8,658,-670- ), a good proportion of which Is used for manufacturing purposes In the republic. The Irtdustry ot the preparation of dried and salted hides of kid and goat has developed considerably. Parchment which Peru exports la highly appre- ciated by the trada on account of Its fins texture. BOftners nnd suitability for \VIA COLON\ JOHN U MZSRItt, PiiraiacHT DIRECT ROUTE TO CENTRAL and SOUTH AMERICA New York Olllee . 89 iJrond Street Phono Broad 7470 HtSINF.f.S On'OIlTINITIK3. A Prominent Breeder of Pure Bred Hogs now in NewYorkCity wishes to meet South Ameri- can Buyers of Live Stock also to arrange for Trip to his Farms, located easy distance from New YorkCity. Address R. H.. 12) San Offic . f.'.- . handling and glove making. Theso skins are eminently adapted for tho manufacture of high grade articles.' Commerce Steadily Increases. Well abreast ot tho natural resources Is tho development of the commerce and means of transportation by land, river nnd ocean routes, to such a degree that the tonnage of Peru Is beginning to oc- cupy nn Important placo in tho world trade: Imports to Peru Lp. U.E02.S51 3 17 Exports from Peru Lp. 1M,H i Total LP. JJ.HMtS 1 Compared with the provlous year those figures show an Increaso of Lp. This continued nnd steady progress, with few exceptions, has boon maintained throughout tli) years of the war. It Is Interesting to note that up to 1917 the foreign commerco of Peru with the United States was 66 per cent, nhlle Great Britain and her colonies absorbed 221-- 3 per cent, tha United titates having proved to ba a very good market for Peruvian products. Tho value of last year's exports from Pi to tha United Btates has been' tho high- est In tho records of commercial trans- actions between tho two countries, hav- ing reached tho Bum of $51,725,092, as against $16,044,437 for tha year before, an Increase of $5,680,655. In 1915 wcro barely $23,419,464, Imports to Peru from the United States are no less Important especially as regards machinery for cotton mills, for the extracting of cotton seed oil and the elaboration of glycerine; mochanlcal appliances for sugar cano plantations, tractors, as woll as agricultural and mining machinery. It should bo borne In mind that the demand for theso ar- ticles will not grow less, since Peru, as can bo seen from the latest reports, la one of the countries In South America least affected by tho armistice. This favorable condition Is apparent from the Importance ot its shipments, which, far from being reduced In value,, havo increased progressively. Financial Situation flood. The publlo and private wealth has Increased. Unoccupied territory Ls bo-l- urbanized dally. In only threo months 250,000 squnro meters were sold along, tho recently constructed Mng-dele- Boulevard, between Lima and Callao. Besides this many other boule- vards and building sites aro under con- struction. Tho fiscal situation Is nil that may bo desired. The republlo has liquidated almost tho whole of Its debt and tho recent budgets have left a surplus. Tho deficit occasioned during the first two years of tho war (1914-191- was can-coll- by a moderate duty levied on tho export Tho legal tender In form of bank bills is fully secured by a gold deposit In tho banks by which the bills nro Issued covering 60 per cent, of tho Issue, the remainder being secured by mortgages and notes, which, far from depreciating In value, nro quoted at a premium of 20 to 30 per cent on the American dollar. Sight drafts have sold In Peru at $5.30 and $5.85 per Lp. (Peruvian). Peru has been enabled to stabilize Its exchnnge by virtue of an agrement with the United States by means of which a portion of tho amount resulting from the commercial balance may bo! de- posited In the Federal reserve bnn'.s and an equivalent amount of paper r ay bo nut In circulation In Peru. ThK ulr- - cumstance and the enormous corwrui clal develooment with tho United States, which has Increased from 33 per cent, to 65 per cent, during tho war, espe- cially in exports, have procured for Peru tho honor of figuring among the creditors of tho great republic, which, In turn, is the creditor of tho great world Powers. As a significant fact we Indicate thnt the first consignment of gold that wn sent to any foreign country. In virtue of tho recent suspension of tho embargo on gold, was sent to Peru through tho Slercantlle Bank of tho Americas and amounted to $1,000,000. All this M a harbinger of the era of national aggrandizement which has already been started In Peru, a country Intended by Its wealth, history and tradi- tions to. fulfill the highest demand of destiny. AL SEN0R BLASC0 IBANEZ Una Prqgunta Como es do uposerss que liar.l Ud. una (Wanna dp Inf' atrocMades de la conqulsta e'apanola n Mexico, cn la conforenCIa do pnea que dara UJ. en el Hotel Pennsylvania el Mlercoles 12 d N'orlcmbre, ante loi oclos del \Mexi- can Union Club,\ retpetuoiamente la auullco to tlrva Ud. emltlr iu opIn!6it robra la nuova cIvlllzaciAn que Wnleron u Implalitar 14 panole.4 al Imparls da Muctesuma, la qua entro laa miles de limovaclonea ( ?) que lntrodujo y que Ud. sin duda calird, (ud la de arroj.ir nl fuero a Cuauh.popoc.1 y nobles s: la de pasar a cuchlllo a la poblaclun do Cholula; la do despojar y encadenar a los reyes y aneslnarlos cn la Noche Trlate; la de matar la llor y nata de la nobleza en el Qran Teocall; la de quemar Ids pies al herdlco Cuauhtemoc y al rcy do Tlac-opa- para ahorcar desmics al Vallente dtfensor do Tenochtltlan; la do Ion hogarev, plsotear cl derecho ds propledad, eeclavliar a una nacion e Impoelbllltar a una raza, por nlglos, a que slgulera la obra de clvlllzacidn emprendlda con abnreacldn por aquellod grandea aabloe del Imperlo Aiteca. Queda en pla cate Intorroiratorlo, n reaerva de que en la conferencla que le toque n Ud. dar nobre la ohra de Ion espanoles en Cuba, ea le Imran preruntas slmllares respecto a la aflgulnarla labor del Oral. Weyler en Aquella Iala, desarrollada catl en pleno title XX y la que solo puede cornpararvo con to actos vamlallcon romMldos por los bombrea que tanto atacd Ud. en an celebro obra \Los Cuntro Jlnetes del Apocallpals\ 7 la que le mercclA cl tlluld de \Commandeur da la Legion d'llonneur.\ UN ESCttlTOrt NEUTRAL. Ailv. INVESTMENT. Attention Many nfour interests are in and many of our clients are from Latin American Countries We ask those who are interested to call on us or to 'phone for one of our representatives to call and place our proposition before you. G. ANDRADE 3RD, INC. 10 West 48th Street New York City 'Phone Cahle Address 369 Bryant \Dradeanc\ New York OFFICERS C. Andrade ord, Pres. & Treas. Otto Young Heyvotth,Yiee-Prc- 3. Thomas Fortunn Rytn 2d, 2- - Yicc-Pre- s. Guitave Hein, Secretary. \Ltl Alidade Stroki Ltad Yuu\ GERMANS RECAPTURE TRADE IN ARGENTINA Low Price of Mark Gives Them Advantage. Dv (As Aitoclaltd Pros. Bcknos Amsg, Nov, 0. The high value of tho American dollar aa a medium o( oxchango and the low value of the Ger- man mark Is enabling German houses to Bell goods hero cheaper than they did beforo tho war. Their prices aro so far below those of American and other allied countries that for tho moment there Is no possibility of competition. The Germans are experiencing a, llttlo difficulty In getting tholr goods to South America. German machines of a certain oloss are selling at 100 per cent, above what thoy did boforo tho war, yet they are 200 posos cheaper to tho Argentina buyer because tho mark Is choap. To guard themselves against possible shipping delays when buying German goods Argentine Importers are buying marks y nnd keeping thcnl to pay their bills wjth when tho goods nrrlve, so that an Increase In tho value of tho mark will not affect their purchasing, price, 4 It has been reported here that German cxportors cannot ship metals, yet their salesmen nro offering coppor tubes In competition with United States salesmen and aro gottlng orders because they promise shipment \when possible,\ and In the meantime tho Argentine purchaser has only to go to his bank and buy marks to cover tho prlco of his order and ha thon gets hla goods nt price, regardless of tho value ot tho mark when tho goods aro received. Several American representatives here havo written to their principals that It Is Impossible to tako orders for Ameri- can goods as long as tho dollar Is val- uable and tho mark Is not. PESSOA INSPECTS SHIP. Drinks to Suucch of American Vessel Xumod fur Htm. Rio Janhiuo, Nov. 9. President Kpl-tac- lo Fessoa of Brazil recently paid a visit of Inspection to tho now United States Shipping Board steamship named In his honor Epltaclo Pessoa. Presi- dent Pcssoa was received aboard the shlD by Edwin V. .Morgan. United States Ambassador, and military and naval attaches of the United States Em bassy. After proposing tho health of Presi dent Pcssoa atia luncheon given aboard ship Ambassador Morgan said that of 100 vessels or tno sinw typo as tne Epltaclo Pcmao belonging to the United Slates Shipping Board this was tho only ono bearing tho name of an Individual. Presidont Pcssoa thanked Mr. Morgan for tho honor paid him and drun): to the success of tho versel and greater glory for tho United States. flertnnn-ArKeiitl- Society Formed Berlin. Nov. 6. Tha German-Argentinia- n Economlo Society has been or- ganized here, It Is announced, with the object of developing the Industrial ac- tivity of Argentina. BAH TO UNDESIRABLES. Argentina Using Strict Meaanrrs stt Port of Cntry, Buenos Aims, Nov. 9. Strict regu- lations havo been Issued by tho Federal Director of Immigration governing the entry of foreigners Into tho republic, In nn effort to prevent thn \indiscriminate admittance of undesirables.\ Not onl will a passport nnd consular vise nt tho port of embarkation to re- quired, but \every foreigner, without exception . whatever and regardless of whatever class thoy travel, must hold a certificate from tho Judicial or police authorities from where the traveller pro- ceeds stating ho has not suffered any legal penalty for offences against the social order during the Ave .years pro- vlous to his arrival In Argentina or for offences which have Involved degrading punishment\ The regulations aro effective for travellers coming from Europe and the United Statea. BRITISH HOSPITABLE TO CHILEAN MISSION Commercial Interests Particu- larly Cordial, London, Nov. 9. Tho Chilean mission which arrived In London last week is now on a round of British hospitality which promlsos to keep It unusually busy, Rlaborate functions havo been ar. ranged In Its honor. Tho members wore received by King Georgo nnd had lunclioon In Buckingham Palace. Juan Enrique TocornnI, former Chilean Minister of Finance and a member of tho mission, expressed to the King Chile's gratltudo for the visit of tha British mission to Chllu last year, Britishers, particularly Ihore in- terested In trade, attach considerable Importuned to tha visit of tho Chileans at a time when tha British are en- deavoring to rehabilitate trade, espec- ially with South America, Fear of tho efforts of tho United Stato to capturo a largo portion of South American busi- ness Is undlsgulscdly expressed In centres, so It Is bellevod no stone will be left unturned to favorably Impress the members of the mission. GERMANY SENDING CARGO TO ARGENTINA Swedish Steamship Sails From Hamburg. By tht Associated Press. Ames. Nov. 9. Tho first ves- sel to leave a German port for Argen- tina since tho beginning of tho war Is now on its way to Buenos Aires, accord- ing to shipping advices. It Is the Swedish steamship Kronprlns Gustaf Adolf from Hamburg, carrying 2,000 tons ot general cargo, mado up of Gorman products. Tito Kronprlns Gus- taf Adolf ' du hero the end of this month. 140 Broadway Fifth Avenue and FRANCE AIDS BRAZIL IN SCIENCE. OF WAR Military Commission Will Det vclop Instructors, , Ilio on JANur.o, Brazil, Nov. 9. Aa nour.coment has been mado by the Mlns, later of Foreign Affairs to tha effeoj that a truaty has boon Hlgned botween and Brazil, through tho rnedUw tlon ot Prumlcr Clonlanccau and Am bassador Ilegls Ollverla, which provides! for tho sliding of n French military commission to this country. Tho commission, tt Is stated, will TM composod ot twenty-fou- r oftlconi and will bo headed by ono of tho most abU French generals. Tho duties ot tho com mission will bo to lend aid to the hv Etrnctora ot tho General Staff at th4 W'ur College and to act as officers 111 different military throughout th4 country. The commission Is reputed to bo mada up of export In every department oj military with tho exception 01 aviation. Thin exception is duo to tho! fact that a French aviation coinmlssioil s already In this country engaged In tho development ot Braillhu) aviation. PUSHES ft Control Lodged With Junta, Administration, Cam, Colombia, Oct. 20. CouslderabPt satisfaction Is being manifested ovor thsj recent decree of tho President, whlclj determines the methods to bo employed in carrying on the construction of the! Pnclllo-Tollm- a Ita'llioad. By the pro! visions of the docrro the of ralh road work Is to bo lodged with a Junta Admlnlstratlva, the residence of whlcq will bo In this city. It Is o bo made ujj of tho Jltnlsler of Public Works, tli4 Chief of the Railroads, two mmj bers from tho Chamber of Commerce oj Call and ono frqm the Chamber of Com- merco of Tho Junta Admlnlstratlva Is lzed to appoint a Junta Admtnlstradora to bo composed of three members, whlclj will havo actlvo control of building operations. The financing of the road Is to b carried out by means of which shall bo Isaued by the Govsrn. ment, tho interest service on which U to bo met by appropriating 60 per cent, of the revenue from tho Pacltlo coas\ custom houses, 45 por cent, of tho fundi thus raised nro to go to the of tho section and tho re- mainder to tho work on the Call-Ca- taso and Pulmlni-.S'antande- r' divisions 1'Inn Kliljiynrd fur 1'eru. Washington, Nov. 9. American, British and Italian Interests plan eon structlon of largo shipyards In Peru, according to information received by tho State Threo soparat4 yards nro planned. 'In the Days of the Strgng-Bo- x \ In the sixteenth century, gold and were almost the sole mediums of commercial exchange. Unemployed capital earned nothing. The merchant kept his idle money in a strong- box at home, or, for greater security, at the goldsmith's. It took nearly three hundred years to develop deposit banking, the check and clearing-hous- e system, and the many other facilities and services offered by modern financial institutions. Modern Deposit Banking as is the function of the m6dcrn IMPORTANT possible the transfer of money through the use of credit instruments, it is only one phase of the service which it offers to the public The wealth entrusted to the hank docs not remain idle, like gold in coffers, but is constantly employed as a basis of credit for the enterprises of industry and commerce, and thus is in the continuous service of the communitv. This Company invites deposit accounts. It pays interest on daily balances of checking accounts and on time deposits. It extends credit, and makes loans on collateral. It seeks to employ its resources in the development of industry along broad, conservative lines, to meet the needs of American business of to-d- ay and tomorrow. Guaranty Trust Company, of New York FIFTH AVENUE OFFICE 43d Street Capital and Surplus Resources more than Franco schools aiding COLOMBIA control Section Popayan. author bonds, central construction Department. silver legitimate MADISON AVENUE OFFICE Madison Avenue and 60th Street $50,000,000 $800,000,000
