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.
It is known to be the great ambition of President Estrada Cabrera to place the finances of Guatemala on a solid basis during his present term. The rate of exchange under the stability now afforded and the improved industrial and commercial conditions has been steadily falling.
A final word concerning the opportunities for American enterprise is convincing when it comes from official sources. In one of his reports Consul General Winslow said:
"During the past few months the exporters of the United States have been doing some effective work in this Republic. There have been several commercial travelers here studying the conditions and taking sample orders. Many others have been asking for information from this Consulate-General, which has been able to give valuable information. If this field is properly worked and sufficiently long credit is given, practically nothing but American goods need be found in the markets of Guatemala, for they are generally conceded to be the best. This market is worth cultivating, for the next few years will see great development here. Everything points that way, and the natural resources are great. The opening up of the new railroad to the Atlantic coast at Puerto Barrios will do wonders for the country. More attention is being paid to the packing of goods shipped to this country. It is an important matter and cannot have too much attention on the part of exporters. Packages should be very firmly nailed and bound by band iron, so they would be difficult to open, as there is much complaint about goods being stolen from boxes in transit. I have had several compliments of late from the custom officers for the way shipments of American goods have come packed. It will pay exporters to pack well everything they ship. Dollars spent in this line will bring hundreds in profits. This is especially true for Central American ports."
Supplementary to the above was a report from Vice-Consul General Owen in which these observations were made:
"The following drygoods of American manufacture are becoming quite popular here: Brown cotton, all grades; cotton duck, Lindale, up to 6 ounces; light domestics; long cloth; gingham; cotton drill, checks and stripes (cheviot); blue and brown cotton drill; fancy calicoes and lawns; cotton ware, all colors. The piece of 24 yards is the most popular, although cotton cheviots, gingham, etc., come put up in larger pieces. Dress patterns in lawn and calico are frequently imported.
"It must be borne in mind that the importers of this Republic are for the greater part Germans, and their interest and inclination lead them to trade with the fatherland. England also is preferred over the United States, possibly because Guatemala merchants can more easily identify themselves in England and get better credits. American goods therefore are imported only when their quality places them so far ahead of the European article that the merchant is almost compelled to have them in stock. The American manufacturers should become better acquainted with this trade, ascertain who are worthy of credit, and extend it. The long voyage and delay en route compel the importer to ask long credits. It is sometimes two or three months after shipments destined for this city leave the manufacturer before they can be displayed in the store of the importer. The custom duty on about all cotton goods is collected on gross weight of the package. Great care should be taken with invoices for custom-house purposes; the goods must be described in exact phraseology of Guatemala custom tariff."