Twenty-five years ago Percival Far-quar incorporated the Itabira Iron and Ore Company, a British corporation with a capital of £2,000,000. It aim was to exploit the iron and ship the ore to foreign countries. This corporation was composed of British, German and American interests, In 4922 President Epitacio Pessoa granted a concession to the Itabira to ex-plait the mines, but because of political opposition these were not carried out. Opponents of the concession argued in the Brazilian Congress that the shipping of ore to foreign coun-ries did not solve the problem and demanded that the Itabira grant be modified to include the setting up in Brazil of furnaces for the manufac-cure of steel.
Text read from the printed page and cleaned; old type leaves the occasional error.