£1,182,400 Dumont Coffee Estates, 3 classes £120,000 S. Paulo Coffee Estates £150,000 Agua Santa Coffee Co. £646,265 S. Juan del Rey Mining £643,601 Rio de Janeiro Flour Mills £100,154 North Brazilian Sugar £100,000 Mappin and Webb (Rio and S. Paulo) £850,000 Brazilian Warrant Co. At the same time the British share in the total foreign debts of the Federal, State and Municipal governments are estimated at about £150,000,000 out of aggregate obligations of some £180,000,000. These debts are treated in more detail on another page. There are very many enterprises carried on with British capital which do not figure upon the Stock Exchange, or are branches of businesses which do not differentiate the capital employed in Brazil. Included in one or other of these classes are the shoe factories belonging to Clarke (Glasgow) in São Paulo; the cotton-spinning mills of Coats, also heir of Scotch skill; several cotton cloth mills, as the Carioca in Rio, and others in Petropolis and Campos; sugar factories in Pernambuco, etc. Included also in money investments should be counted the eight and a half million pounds of paid-up capital of the three British banks, the British Bank of South America, the London and Brazilian and the London and River Plate, which total with their branches to twenty-four establishments. It is impossible to say what part of the huge shipping investment serving Brazil should be included, but it is a highly important element and quite the greatest developing factor in Brazilian commerce; the Royal Mail is the great popular passenger and freight line, while Lamport & Holt, Booth, Harrison, the Prince, Johnson, and other smaller lines do a big Brazilian business. Among firms doing energetic work and with large capital invested are the two great coal firms, Wilson’s and Cory’s, with their depots for Welsh coal, their fleets of lighters, repair equipment, salvage departments and stevedoring; old-established commercial firms such as Stevenson’s and Duder’s in Bahia, chiefly occupied with cacao export—the latter in addition to other activities maintains a fleet of modern whaling boats, and a factory for refining whale-oil; there are the “dry goods” stores of Sloper’s series; the new house of Mappin; the Brack firm in Pernambuco; all these and a score of other classes are not only commercial developers but in a greater or smaller degree employers of Brazilian labour. There are British cattle breeders, sugar and cotton growers, owners of coffee and cacao estates, operators of ironworks, foundries, schools, bookshops, oil-depots, and many other enterprises. The total British investment of money in Brazil cannot be under £300,000,000.