properties in the Department of Morazan, Republic of Salvador. The mines referred to lie within a rich mineralized zone of 16 hectares between San Jose del Penon and the San Antonio Guayoto ranches, and 12 well-defined veins of gold and silver bearing ores have been discovered. The mines are at a distance of about 2 leagues from the celebrated San Sebastian mine, and about 21 leagues from the Sociedad village. Modern machinery and equipment for working the mines have been ordered abroad and part of it has already been received at the port of La Union. The company proposes to work its ores, which assay from 12 to 14 pesos of gold per ton, by the cyanide process.

WATER SUPPLY FOR GOTERA.

The enterprising town of Gotera, acting in conjunction with the Federal Government of the Republic of Salvador, has recently been furnished with an abundant supply of potable water, part of which will be used in maintaining the town in good sanitary condition. Other towns and villages in the vicinity are also planning to obtain a water supply under similar conditions.

ASSETS OF THE SALVADOR AND SANTA TECLA TRAMWAY.

The assets of the Salvador and Santa Tecla tramway on December 31, 1911, were 457,850 pesos, made up of capital 400,000 pesos, and reserve funds and other assets 57,850 pesos.

UNITED STATES

INTERNATIONAL CONGRESS OF NAVIGATION.

The Twelfth International Congress of Navigation will meet at Philadelphia on May 23, 1912, sitting for one week.

This Twelfth Congress of Navigation is organized by the International Association of Navigation Congresses, having its permanent seat in Brussels, Belgium, and being governed by a commission composed of delegates from the States that have joined the association. At the meeting of the commission of July 30, 1910, it was unanimously decided to accept the invitation of the United States Government, then presented, for holding the Twelfth Congress at Philadelphia. At the same sitting the program of subjects to be considered by the congress was adopted.

International congresses of navigation have been held at various intervals since 1885 in Belgium, Germany, Austria, England, France, Holland, Italy, and Russia, and have been of the utmost value in furthering the general progress of improvements of every kind in the interest of navigation.

The discussions and conclusions of these congresses on the important theoretical and practical questions pertaining to navigation that they have considered, form the best existing guide to the solution of such problems, constantly arising, since they represent the results of the world's experience to date and the conclusions of the world's experts. The truth of this statement has been realized for years in Europe, due largely to the fact that all previous congresses have been held there, and is now becoming realized in America, as shown by the large recent increase of American membership in the association. The United States and Canada are blessed with remarkable systems of navigable lakes and rivers as well as excellent seaports, on which much has been done for navigation and much is in progress or proposed.

Philadelphia has been chosen as the place of holding the congress for various reasons. It is a seaport, conveniently reached from Europe, either directly or by way of New York, two hours distant. It is a favorable starting point for visits to works of improvement, to the National Capital, or to seashore and mountain resorts and other points of interest.

The subjects to be considered and discussed at the congress were chosen with the utmost care. They represent the combined suggestions of the representatives of many countries, and the full and minute discussion that will be given then, with the conclusions of the congress when definite conclusions are possible, will be of advantage to practically every nation.

After the congress, an extended inspection trip will be arranged, including probably New York City, the Hudson River, the New York State Barge Canal, Niagara Falls, and the Great Lakes as far at least as the Sault Ste. Marie Canal, about 2,000 kilometers from Philadelphia by the route followed. The return may be by way of Chicago, the Ohio River, and Pittsburgh, or by way of Canada, in case an invitation from Canada to that effect should be received.

BUSINESS MEN'S EXCURSION TO MEXICO.

With the object of fostering and increasing commercial and social intercourse between the citizens of the United States and the Republic of Mexico, the International Club of San Antonio is now organizing an excursion of representative business and professional men from all sections of the United States to tour Mexico under the auspices of this club in April, 1912.

In 1910, Mexico purchased from the United States, $64,000,000 worth of merchandise. In 1912 this can be increased to over $100,000,000, if our business interests make an earnest effort to secure their patronage.

As this excursion is not an individual enterprise, nor is it devoted to any particular interest, it is desired to make it a truly interna

tional activity, and with this object the International Club of San Antonio desires to extend to every interested business and professional man, through the medium of their various organizations, a sincere and cordial invitation to participate.

The itinerary is from San Antonio, into Mexico, via Laredo, visiting every important city in Mexico, including side trips to mining and agricultural sections and to manufacturing and other industries, affording ample opportunity for the inspection of each interest, spending an entire day or more in the more important cities, with two days in Mexico City. Traveling will be done mostly at night, except in the scenic sections. Entertainments of various sorts and numerous functions at which the business men of both countries will be brought in touch with each other will be arranged. The return will be via Eagle Pass and the Sunset Route to San Antonio. The duration of the trip, from San Antonio and return, will be about 20 days. Sufficient time will be spent at all points of real interest to permit of thorough information.

"PAN AMERICAN MAIL.”

The United States has become a manufacturing country, and with the marvelous development of her manufacturing industries an adequate outlet for her surplus production is daily becoming a necessity. It is necessary for the prosperity of the country that manufacturers make connections with new markets in which to dispose of their goods. This pressing need of an American flag steamship service has caused the organization of the Mississippi Valley, South America & Orient Steamship Co. (for brevity, the "Pan American Mail") to make use of the Gulf of Mexico from New Orleans, as the gateway to the Mississippi Valley and the South, to Brazil and the Argentine Republic.

This "Pan American Mail Steamship Co." has its headquarters in New Orleans, offices 806 Gravier Street, and is displaying a great energy in perfecting plans and instituting regular mail, passenger, and freight service between the Mississippi Valley, the east coast, and South America.

CONSUL GENERAL OF MEXICO AT NEW YORK.

An error, for which the Pan American Union should not be held responsible, however, as it seemed to come from a trustworthy source, was the statement on page 127 of the BULLETIN (English edition) for January, 1912, "that Sr. Don Manuel Saldivar has been appointed Mexican consul general at New York." The Hon. Cayetano Romero remains consul general of Mexico at that port.

PROPERTY-TAX LAW.

The new property-tax law enacted by the Congress of Uruguay is published in full in the Official Gazette of Montevideo of January 18, 1912. This law repeals the additional taxes of one-half per mil. The objects of the new law are to obtain true assessed valuations of real property, and to secure more details as to topography, boundaries, etc.

COASTAL TRADE BILL.

The coastal trade bill, enacted by Congress for the purpose of developing the coastwise trade of Uruguay, has been signed and promulgated by the President. The bonus clauses which were included in the original draft of the bill were eliminated by Congress.

TELEPHONE TRANSFER.

At the beginning of the present year the National Telephone Co., of Montevideo, transferred its entire installation, including its good will, to the department of posts of the Government of Uruguay. The business is to be conducted in the same manner as heretofore.

IMPORTS AND EXPORTS OF STOCK IN 1911.

In 1911 there were imported into Uruguay 1,556 sheep, 108 head of cattle, 855 head of horses, 4,685 fowls, 287 dogs, 2 goats, 4 hogs, and 116 miscellaneous animals. The exports of live animals from Uruguay during the same year consisted of 47,098 sheep, 844 head of cattle, 271 horses, 29 hogs, 21,704 fowls, and 49 animals of different kinds. The total number of animals killed in the slaughterhouses of Uruguay in 1910-11 was 1,651,200.

INSURANCE BANK AND BANK OF THE REPUBLIC.

The Insurance Bank, a Government institution recently established in Uruguay, has the following board of directors: President, Luis J. Supervielle; members, Juan I. Risso, Jose Scaglia, Quinto Bonomi, Juan Comaschi, Guillermo Strothbaum, and Leopold Caravia. The first work of the board was to formulate rules and regulations for the conduct of the business of the bank, to secure a manager, and to decide upon a suitable location.

The profits of the Bank of the Republic in 1911 were $1,465,706, out of which $472,426 will be set aside for the service of the 5 per cent Uruguayan loan; $50,000 for the legislative palace building fund; and $943,280 will be added to the paid-up capital, making the total paid-up capital of the institution on January 1, 1912, $9,247,650, The profits of the Bank of the Republic were $424,527 in excess of those of 1910.

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DEPARTMENTAL LYCEUMS OF SECONDARY EDUCATION.

A law has been enacted by the Congress of Uruguay, and duly promulgated by the President of the Republic, establishing 18 departmental lyceums. This law is commented upon by the press of the metropolis as one of the most important educational measures ever enacted in the country.

WIRELESS INSTALLATIONS.

A law has been promulgated by the President of Uruguay making wireless installations on passenger vessels touching at Uruguayan ports obligatory on and after May 1, 1912. The installations must be such as to enable the receipt and transmission of messages from or to a distance of not less than 100 kilometers on vessels used in river navigation, and 400 kilometers on ocean-going vessels, and the installations must be permanently kept in condition to communicate with Uruguayan wireless stations. Vessels not complying with the law will not be allowed to engage in the passenger traffic in Uruguay. The central wireless station at Cerritos in the suburbs of Montevideo has been opened to public service, and the private wireless telegraph stations throughout the Republic have been discontinued since January 24 last.

GOVERNMENT INSURANCE MONOPOLY.

The State insurance monopoly is now an accomplished fact and as published in the Diario Oficial of January 5, 1912, contains 8 chapters and 32 articles.

Chapter 1 declares and defines the limits of the insurance monopoly. Insurance covering the risks of life, accidents of work, and fire is to be a State monopoly, while the State is authorized to engage also in other lines of insurance, as may be determined by special Executive decrees for each class of insurance business. Private companies now operating in the Republic may continue to transact business in a "provisional character;" but once it has been decided by virtue of an Executive decree to establish State insurance in a certain field of risks, private insurance in this field is prohibited, and all new contracts are null and void, while old contracts remain binding upon the companies. Such policies are to be registered in a State office within four months. Violations of the law are punished by fine and imprisonment.

Chapter 2 establishes the Banco de Seguros del Estado, with a capital of 3,000,000 pesos ($3,102,000) in public bonds, the service of which is to be provided for from the general income of the State. The insurance risks assumed by the bank are, according to chapter 3, guaranteed not only by its capital and other funds, but also by the entire resources of the Government. The remaining chapters contain provisions concerning the management of the bank, etc.