Salt Lake Telegram | 1931-07-27 | Page 12 | American Interests in Chile

AMERICAN AMERICAN INTERESTS IN C CHILE ILE NEW NW YORK July 27 P New NewYork New NewYork York watched with wih keen Interest the development de incident to the change o of or government In i Chile ChUe as a American capital has ha played a leading part Inthe in inthe inthe the development of at Chilean ChUcan Indus try United d States Investments in Chile are estimated In excess of or larger than In any South American country countr save Argentia Argentina Direct Investments i. i In vestments by American corporations In Chilean Chiea mining enterprises account account ac ac- ac count for about half hal the United States States' total stake in that that country In I addition to copper Chile Is a lead len Ing ng producer of at nitrate Chile Chie has ha some of at the worlds world's richest richest rich rich- est et deposits depsis of copper The slump In Inthe Inthe inthe the price of that staple from 16 cents cent a pound In the United States to 8 S Scents cents cent and less les has seriously crippled that republic The Chile ChUe Copper company com corn pa pany controlling some of Chiles Chile's best besl copper deposits was once dominated dominate by the Guggenheim Int Interests rest In 1923 they hey sold controlling Interest to the te Anaconda Copper Mining company company Chile ChUe Copper company's properties comprise the largest known body of copper ore In the world being sufficient suf sut to last lat over 70 years based on onal onan onan an al annual production of pounds Anaconda also als holds most of the outstanding stock of the Andes Copper company which has valuable I properties In lii il Chile Chie The Te Copper corporation owns valuable copper deposits in Chile through its It subsidiary the Braden Bra Bra- Braden den Copper company Braden at Sewell Sew Sew- ell eli el Chile ChUe has a plant with wih an annual capacity of about pounds of at copper The Guggenheim Interests have also taken a leading part In the development de dc- dc of at Chiles Chile's rich rih nitrate de de- de posits The Guggenheim company the he Chilean Anglo Consolidated NItrate NI Nl- corporation recently became a apart apart apart part of the C Chilean h 1 e a 1 n nitrate i rat e monopoly sponsored by the govern gover ment A new company known as the Chile Nitrate company was wa formed to o consolidate the various producers The Chilean government holds a one one- half hal interest in the new nw company A