Salt Lake Tribune | 1913-10-21 | Page 6 | American Money in Canada

AMERICAN MONEY IN CANADA. (Investments of thd United States business mon and manufacturers in Cauada havo become of mighty proportions. pro-portions. It will bo remembered that the U. S. Steel Corporation is building an enormous plant opposite Detroit on the Canada side. There it wll not be interfered with in its acquisition of ore deposits, cithor in Michigan or in Minnesota. Min-nesota. That corporation, chartered by Canada, will bo able to buy iron oro lnnd3 in any quantitios that it may do-stre do-stre in tho United Statos. As a corporation cor-poration formed in this countr', it was forbidden to acquiro titlo to tho Minnesota Min-nesota iron lands that wore under negotiation ne-gotiation betwoen tho U. S. Stool Corporation Cor-poration and President Hill of the Northern Pacific nnd tho Groat Northern. North-ern. Theso lauds aro of immenso value, and Mr. Hill was negotiating tho deal, which would havo boon onormously profitable to the stockholders of his road, when tho Federal Government interfered. in-terfered. Doubtless he will bo able to concludo that negotiation with tho Canadian Ca-nadian corporation, which is formed by officers of tho U. S. Steel Corporation Corpora-tion who find themselves able to do in Canada what thov- aro not ablo to do directlj' in their own county. Besides this, wo noto from a Canadian Cana-dian paper an cstimalo of American capital invested in Canada at tho present pres-ent time. Tho amount of this investment invest-ment is stated al $599,000,000, as compared com-pared with $279,000,000 in 1909, and $417,000,000 in 1911. These figures show very great totals and also sensational sensa-tional growths in these investmonto. Of the investments so totaled, over $150,-000,000 $150,-000,000 is in tho form of branch factories fac-tories and warehouses of manufacturers of tho United States. A sum of nearly $125,000,000 has been investod by eiti-zons eiti-zons of tho United States in. Canadian govornrnont and industrial bonds since 1905. Life and fire insurance companies compa-nies of this country havo $67,000,000 invested in-vested in tho Dominion, whilo over $130,000,000 is invested in British Columbia Co-lumbia mills, timber, and mines. Investments In-vestments in the "Prairio Provinces," so called, Alberta, Manitoba, Assini-boia, Assini-boia, Saskatchewan and Athabasca, are in lands, mines, packing plants, factories, factor-ies, warohouscs, and olovators. Tho liborality of Canada as compared with tho restrictions in this country, is attracting largo numbcrH of our own people and bringing to tho Domiinon an immenso accrotion, which will benefit our northern neighbor quite as much in this way ns that same neighbor is benefited ben-efited bj- the very largo emigration from this country of farmers and home-seekers, home-seekers, who go to Canada to take up tho lands offered thero on terras better and in amounts larger than ever were offered to settlors on tho public domain in tho United States.