ACROSS UNKNOWN SOUTH AMERICA 
3,000,000 milreis was granted for ninety years, for the 
construction of a railway of one-metre gauge from 
Campinas to Mogymirim, and of a branch line to Arnparo, 
to the northeast of Campinas and due east of Inguary. 
By a similar law of March 20, 1875, a guaranteed interest 
was granted for thirty years as to the capital of 2,500,000 
milreis for a prolongation of the line to Casa Blanca. 
By a provincial law (Minas Geraes) of October 1, 
1881, another guarantee was granted of seven per cent 
for thirty years, upon a maximum capital of 5,000,000 
milreis, for a continuation of the railway through the 
provincial territory from the right bank of the Rio 
Grande to the left bank of the Paranahyba River. 
Finally, by a provincial contract of Minas Geraes of 
October, 1884, a further guarantee was granted of seven 
per cent for thirty years, on a maximum capital of 
5,000,000 milreis, for the construction of the prolongation 
of the railway from its terminal point at the Rio Grande 
as far as the Paranahyba, via the city of Uberaba. 
In view of other important concessions obtained, one 
may consider that the Mogyana Company is perhaps the 
most important railway concern in Brazil, up to the 
present time. It does great credit to Brazilians that the 
railway was constructed almost entirely by capital raised 
on bonds in Brazil itself, the only foreign loan issued in 
London being a sum amounting merely to £341,000 at 
an interest of five per cent. Between the years 1879 and 
1886 the Company returned to the Government at Sao 
Paulo the interests received, thus liquidating its debt. A 
decree of October 18, 1890, fixed the capital spent on the 
Rio Grande line and a branch to Caldas at 4,300,000 
milreis gold and 1,853,857.750 milreis paper, as guarantee 
of the interest of six per cent conceded by the National 
Treasury. 
In the year 1900 the value of interests received 
amounted to 3,190,520.418 milreis in paper, and 
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