Leadership

AMERICAN CONCERN FINANCING WATER WORKS CONSTRUCTION IN URUGUAY.

Issue 18 and Volume 59.

AMERICAN CONCERN FINANCING WATER WORKS CONSTRUCTION IN URUGUAY. The first contract entered into by the American International Company, the new $50,000,000 corporation recently formed by Frank A. Vanderlip to promote foreign trade, is the financing the construction of sewerage and water works in Uruguay. The company’s statement making the announcement said: “The American International orporation has, in co-operation with the Ulen Construction Company, of Chicago, entered into a contract with the Government of Uruguay for the construction of sewerage and water works in the cities of Paysandu, Mercedes, and Salto, in the Republic of Uruguay. The contract price is $5,000,000 to be paid with 6 per cent, serial bonds of the Republic of Uruguay, running from six months to fifteen years. The National City Bank is named as fiscal agent for the issue. This may be considered a typical transaction, and one in direct line with the purposes for which…

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