31 Dec 2021 2:44 am
I would have to look deeper to find out what was really going on. But at that point UF was in a pickle which explains the buyouts and mergers and ****. The government was in a pickle too as they had no capital and a partially completed railroad rusting in the jungle.
Apparently this Minor Keith guy was a really tenacious guy. That is if he was the one who came up with a plan to continue. He put up a fortune of his own money (must have been everything) but was forced to partner with another wealthy American and further issue stock for the remaining 1/3rd. This gave them enough money to complete the project. But why complete a project for someone else for free? No reward there? No way to recoup the investment and the countries leadership was broke.
Apparently he had been feeding the workers with bananas and other native fruits, growing them locally. So his plan was ingenious.
1. Borrow capital up to your eyeballs, seek out a partner and issue stock to raise the rest.
2. Pay off all the bad debt owed by the government so the country/government doesn't cease to exist.
2. Complete the railroad.
For payment they received
1. A LOT of land. Specially chosen to grow bananas close to the railroad. Plus an agreement no property taxes on the land for a century.
2. Proceeds from the railroad for 99 years.
So after raising the capital he struck a deal with the leadership planning to go into the banana business and make a little on the side selling tickets on the railroad in exchange for bailing out the country and finishing the railroad. Bold plan! Big risk! The guy had guts. It appears he was likely hoping to make Guatemala prosperous so he would become rich. If he had succeeded we would be calling him Superman. No clue how the workers were treated. Musta been **** work though. Probably weren't used to any jobs at all. Indigenous people living off the land. I have no indication his intentions were exploitive though and no idea whether the deal was fair. I assume it was or one side or the other would have asked for more. Question is, did the government leadership who brokered the deal do so in the interest of the nation or in the interest of themselves? We can't know at this point.
Apparently this Minor Keith guy was a really tenacious guy. That is if he was the one who came up with a plan to continue. He put up a fortune of his own money (must have been everything) but was forced to partner with another wealthy American and further issue stock for the remaining 1/3rd. This gave them enough money to complete the project. But why complete a project for someone else for free? No reward there? No way to recoup the investment and the countries leadership was broke.
Apparently he had been feeding the workers with bananas and other native fruits, growing them locally. So his plan was ingenious.
1. Borrow capital up to your eyeballs, seek out a partner and issue stock to raise the rest.
2. Pay off all the bad debt owed by the government so the country/government doesn't cease to exist.
2. Complete the railroad.
For payment they received
1. A LOT of land. Specially chosen to grow bananas close to the railroad. Plus an agreement no property taxes on the land for a century.
2. Proceeds from the railroad for 99 years.
So after raising the capital he struck a deal with the leadership planning to go into the banana business and make a little on the side selling tickets on the railroad in exchange for bailing out the country and finishing the railroad. Bold plan! Big risk! The guy had guts. It appears he was likely hoping to make Guatemala prosperous so he would become rich. If he had succeeded we would be calling him Superman. No clue how the workers were treated. Musta been **** work though. Probably weren't used to any jobs at all. Indigenous people living off the land. I have no indication his intentions were exploitive though and no idea whether the deal was fair. I assume it was or one side or the other would have asked for more. Question is, did the government leadership who brokered the deal do so in the interest of the nation or in the interest of themselves? We can't know at this point.