Guatemala, the country of the futurePepper, Charles M. (Charles Melville)
History
Guatemala, the country of the future
Pepper, Charles M. (Charles Melville)
Guatemala
The government officials of Guatemala and the merchants gave hearty
support to the project of an exposition ship or floating exposition
which was undertaken on the Pacific coast in order to display American
products and manufactures and at the same time familiarize American
firms with the products of other countries.
EXCHANGE AND BANKS.
In the conduct of its foreign commerce reasonably long credits are
required by the merchants of Guatemala, but always under fixed
conditions. When the coffee crop is shipped bills on Europe and on New
York can always be procured at reasonable exchange and the obligations
be met in this manner. Since the balance of trade is in favor of
Guatemala there is always the certainty of funds for exchange.
Under President Estrada Cabrera's administration the banks of the
country are subject to a regulation somewhat similar to the national
banks of the United States. Various decrees have been issued governing
the emission of banknotes. The latest decree institutes a special bank
examination project and requires all the financial institutions to give
an account of their condition and operations to this Department.
The following statistics as to the leading banks of Guatemala have been
compiled from recent reports:
GUATEMALAN BANK (BANCO DE GUATEMALA).
Capital subscribed and totally paid $2,500,000 00
Reserve fund 655,000 00
Contingent fund 292,208 67
Fund available for dividends 200,000 00
Manager: Carlos Gallusser.
OCCIDENTAL BANK (BANCO DE OCCIDENTE).
Capital authorized $2,000,000 00
Capital paid 1,650,000 00
Reserve fund 1,200,000 00
Contingent fund 1,200,000 00
Manager: Rufino Ibarguen.
INTERNATIONAL BANK (BANCO INTERNACIONAL).
Capital subscribed and totally paid $2,000,000 00
Reserve fund 1,507,000 00
Contingent fund 281,918 76
Manager: Carlos B. Pullin.
COLUMBIAN BANK (BANCO COLOMBIANO).
Capital paid $1,776,000 00
Reserve fund 797,747 94
Sinking fund 454,189 84
Fund available for dividends 69,227 74
Director: F. L. de Villa.
AMERICAN BANK (BANCO AMERICANO).
Capital authorized $1,200,000 00
Manager: A. Beckford.
AGRICULTURAL MORTGAGE BANK (BANCO AGRICOLA-HIPOTECARIO).
Capital authorized $12,000,000 00
Manager: A. Prentice.
All these are banks of emission and discount with headquarters in
Guatemala City and with branches in the other principal cities of the
departments. They also to some degree supply the place of mercantile
agencies and report financial standing of individuals, firms and
companies upon solicitation.
Public-domain text, read in full here on John Shaqi.
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