of miscellaneous property throughout the republic and we now stand to lose on the petroleum investment, which we thought was going to be very profitable to us. We have experienced stupendous losses in the Cuban sugar industry and minor losses in industrial investments in Germany, Austria, Russia and Rumania. Our banking ventures in South America have been unlucky. In our speculation in foreign internal bonds and foreign currencies we stand to lose upward of $600,000,000. Out of these bad investments something may be salvaged, but at the best even partial reimbursement is likely to be long delayed. Our most profitable foreign investment has been in the copper mines of Peru and Chile, though as yet but relatively little income has been derived from them and our profits are still matters of expectation rather than realization.
Summany or American Commenciat INVESTMENTS IN FonEIGN COUNTRIES
1916 1920 Argentina.................. $ 30,000,000 $ 40,000,000 Bolivia..................006 5,000,000 15,000,000 Brazil................000005 50,000,000 75,000,000 Chile...............000.000., 100,000,000 200,000,000 Colombia................... 10,000,000 30,000,000 Ecuador..............0..50- 5,000,000 5,000,000 Guianas.................... 5,000,000 5,000,000 Paraguay.................05 5,000,000 20,000,000 Peru..... 0... cece eee 50,000,000 85,000,000 Uruguay...........0. 2 eee 15,000,000 20,000,000 Venezuela.................. 10,000,000 40,000,000
$ 285,000,000 $ 535,000,000
Costa Rica...............005 20,000,000 25,000,000 Guatemala.................. 12,000,000 15,000,000 Honduras................... 10,000,000 18,000,000 Nicaragua.................. 5,000,000 5,000,000 Panama...............0..... 20,000,000 30,000,000
$ 77,000,000 $ 93,000,000
