Minor Cooper Keith: Difference between revisions
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[[Image:Banana12sm.jpg|right|thumb|150px|Minor C. Keith]] |
[[Image:Banana12sm.jpg|right|thumb|150px|Minor C. Keith]] |
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'''Minor Cooper Keith''' ([[1848]] – [[1929]]) was a [[United States of America|U.S.]] railroad, fruit, and shipping magnate whose business activities had a profound impact in [[Central America]] and in [[Colombia]]. |
'''Minor Cooper Keith''' ([[1848]] – [[1929]]) was a [[United States of America|U.S.]] [[railroad]], fruit, and shipping magnate whose business activities had a profound impact in [[Central America]] and in [[Colombia]]. |
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==Costa Rican railroad== |
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| ⚫ | Keith was born in [[Brooklyn]], [[New York]]. In 1871, [[Costa Rica]]n president [[Tomás Guardia Gutiérrez]] signed a contract with Keith's uncle, [[Henry Meiggs]], to build a |
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| ⚫ | Keith was born in [[Brooklyn]], [[New York]]. In 1871, [[Costa Rica]]n president [[Tomás Guardia Gutiérrez]] signed a contract with Keith's uncle, [[Henry Meiggs]], to build a railroad from the capital city of [[San José, Costa Rica|San José]] to the [[Caribbean Sea|Caribbean]] port of [[Limón]]. Keith was involved in the project from the start and took it over after Meiggs's death in 1877. |
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| ⚫ | The construction of the railroad proved extraordinarily challenging |
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At the time, Costa Rica's economy was based primarily on the export of [[coffee]], which was grown in the country's central valley and transported by oxcart to the [[Pacific Ocean|Pacific]] port of [[Puntarenas]]. Since the main market for Costa Rican coffee was in [[Europe]] and no canal connecting the Pacific and [[Atlantic Ocean]]s existed, creating a reliable transportation route to the Caribbean was a high priority for the Costa Rican government. |
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| ⚫ | In 1884, the government of President [[Próspero Fernández Oreamuno]] agreed to |
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| ⚫ | The construction of the railroad, however, proved extraordinarily challenging due to inadequate financing coupled to the rugged terrain, thick jungle, torrential rains, and prevalence of [[malaria]], [[yellow fever]], and other tropical diseases. Keith had to import labor from several other countries and as many as four thousand people, including Keith's three brothers, died during the construction of the first 25 miles of track.<ref>[http://www.facesofcostarica.com/history/keith.htm Faces of Costa Rica]</ref> When the Costa Rican government defaulted on its payments in 1882, Keith had to borrow [[Pound sterling|£]] 1.2 million from [[London]] banks and from private investors. |
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==Banana trade== |
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| ⚫ | In 1884, the government of President [[Próspero Fernández Oreamuno]] agreed to compensate Keith by giving him 800,000 acres (3,200 km²) of tax-free land along the railroad, plus a 99-year lease on the operation of the train route, and on the port of [[Limón]]. The railroad was completed in 1890, but the flow of passengers and cargo proved insufficient to finance Keith's debt. As early as 1873, however, Keith had begun experimenting with the production of bananas grown from roots he had obtained from the French. To market the bananas, Keith began running a [[steamboat]] line from Limón to [[New Orleans, Louisiana|New Orleans]], in the United States. The resulting banana trade proved extremely lucrative. |
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Keith then established banana plantations in [[Panama]] and in the [[Colombia]]n [[Magdalena Department]]. He eventually came to dominate the banana trade in Central America and Colombia. In 1899, he was forced by a financial setback to combine his venture with [[Andrew W. Preston]]'s Boston Fruit Company, which dominated the banana trade in the West Indies. The result of the merger was the powerful [[United Fruit Company]], of which Keith became vice-president.<ref>[http://www.unitedfruit.org/keith.htm United Fruit Co. Historical Soc.]</ref> |
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==Other activities== |
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Keith also invested in [[gold mining]] in [[Abangares Canton|Abangares]], in the Costa Rican province of [[Guanacaste Province|Guanacaste]].<ref name="toenjoy"> {{Citation |
Keith also invested in [[gold mining]] in [[Abangares Canton|Abangares]], in the Costa Rican province of [[Guanacaste Province|Guanacaste]].<ref name="toenjoy"> {{Citation |
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| url =http://www.toenjoynature.com/COSTA_RICA/HISTORY/POST.HTML}}</ref> In 1912 he returned to railroad building, organizing the International Railways of Central America and eventually completing an 800-mi (1,287-km) railway system, but died before realizing his dream of a line from [[Guatemala]] to the [[Panama Canal]]. His work profoundly altered the economic life of Central American countries.<ref>[http://www.encyclopedia.com/doc/1E1-KeithMi.html The Columbia Encyclopaedia]</ref> |
| url =http://www.toenjoynature.com/COSTA_RICA/HISTORY/POST.HTML}}</ref> In 1912 he returned to railroad building, organizing the International Railways of Central America and eventually completing an 800-mi (1,287-km) railway system, but died before realizing his dream of a line from [[Guatemala]] to the [[Panama Canal]]. His work profoundly altered the economic life of Central American countries.<ref>[http://www.encyclopedia.com/doc/1E1-KeithMi.html The Columbia Encyclopaedia]</ref> |
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Keith married Cristina Castro Fernández, daughter of former [[President of Costa Rica]] [[José María Castro Madriz]]. He founded a chain of general stores. He left his collection of |
Keith married Cristina Castro Fernández, daughter of former [[President of Costa Rica]] [[José María Castro Madriz]]. He founded a chain of general stores. He left his collection of ancient Indian gold to the [[American Museum of Natural History]] in New York.<ref>[http://www.freelabs.com/~whitis/clan/empire.html "The Economic Empire of the Tropics," by Mark Whitis]</ref> |
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==References== |
==References== |
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Revision as of 10:40, 4 November 2007
Minor Cooper Keith (1848 – 1929) was a U.S. railroad, fruit, and shipping magnate whose business activities had a profound impact in Central America and in Colombia.
Costa Rican railroad
Keith was born in Brooklyn, New York. In 1871, Costa Rican president Tomás Guardia Gutiérrez signed a contract with Keith's uncle, Henry Meiggs, to build a railroad from the capital city of San José to the Caribbean port of Limón. Keith was involved in the project from the start and took it over after Meiggs's death in 1877.
At the time, Costa Rica's economy was based primarily on the export of coffee, which was grown in the country's central valley and transported by oxcart to the Pacific port of Puntarenas. Since the main market for Costa Rican coffee was in Europe and no canal connecting the Pacific and Atlantic Oceans existed, creating a reliable transportation route to the Caribbean was a high priority for the Costa Rican government.
The construction of the railroad, however, proved extraordinarily challenging due to inadequate financing coupled to the rugged terrain, thick jungle, torrential rains, and prevalence of malaria, yellow fever, and other tropical diseases. Keith had to import labor from several other countries and as many as four thousand people, including Keith's three brothers, died during the construction of the first 25 miles of track.[1] When the Costa Rican government defaulted on its payments in 1882, Keith had to borrow £ 1.2 million from London banks and from private investors.
Banana trade
In 1884, the government of President Próspero Fernández Oreamuno agreed to compensate Keith by giving him 800,000 acres (3,200 km²) of tax-free land along the railroad, plus a 99-year lease on the operation of the train route, and on the port of Limón. The railroad was completed in 1890, but the flow of passengers and cargo proved insufficient to finance Keith's debt. As early as 1873, however, Keith had begun experimenting with the production of bananas grown from roots he had obtained from the French. To market the bananas, Keith began running a steamboat line from Limón to New Orleans, in the United States. The resulting banana trade proved extremely lucrative.
Keith then established banana plantations in Panama and in the Colombian Magdalena Department. He eventually came to dominate the banana trade in Central America and Colombia. In 1899, he was forced by a financial setback to combine his venture with Andrew W. Preston's Boston Fruit Company, which dominated the banana trade in the West Indies. The result of the merger was the powerful United Fruit Company, of which Keith became vice-president.[2]
Other activities
Keith also invested in gold mining in Abangares, in the Costa Rican province of Guanacaste.[3] In 1912 he returned to railroad building, organizing the International Railways of Central America and eventually completing an 800-mi (1,287-km) railway system, but died before realizing his dream of a line from Guatemala to the Panama Canal. His work profoundly altered the economic life of Central American countries.[4]
Keith married Cristina Castro Fernández, daughter of former President of Costa Rica José María Castro Madriz. He founded a chain of general stores. He left his collection of ancient Indian gold to the American Museum of Natural History in New York.[5]
References
- ^ Faces of Costa Rica
- ^ United Fruit Co. Historical Soc.
- ^ Costa Rica Nature Adventures (retrieved September 8, 2007), "Costa Rica History: Post Independence History", To Enjoy Nature. com
{{citation}}: Check date values in:|date=(help); Text "author2-" ignored (help) - ^ The Columbia Encyclopaedia
- ^ "The Economic Empire of the Tropics," by Mark Whitis