FROM POVERTY TO RICHES.

Hawera & Normanby Star, Volume XLII, Issue 7371, 24 January 1902, Page 4

FROM POVERTY TO RICHES.

All Western Mexico is talking about Pedro Alvarado, who has grown rich with amazing rapidity through discovering a mine of wonderful richnes3.

Less than a year ago, he lived in Parrel, a miniDg town in the State of Chihuahua, wearing sandals and the big sombrero, like other Mexican mine laborers. To-day he has a monthly income of more than £40,000. He is another Stratton (sdkja the Providence Journal), except that his wealth came more suddonly than that of the Colorado millionaire.

Alvarado is spending his money recklessly. He seems to have no idea of its value, and gets rid of it as quickly as possib'e. According to Thomas Walsh, an American mining man, who saw him daily, the net profits of Alvarado's mme — tbe Palmillo— have aggregated £800,000 since last November. He keeps the money at home, guarded by a force of armed men, rather than bank it.

E)ght armed men go with him as he walks down the street, always with £40,000 in his possession, and dressed in the height of fashion. A travelling jeweller who Btruck Farral with his wares came across the local Croesus, who bought up his entire stock of cheap watches and fake diamonds for £3,000.

Alvarado is building a palace as his permanent home. It is to be the finest private residence in Mexico, and will costabout£loo,ooo. Lately the rich man bought three costly pianos as ornaments for the new palace.

He is showing a philanthropic spirit. A big charity hospital is being built for the poor of Parrel at his expense. A church to cost thousands of pounds is also going up ; and Alvarado is letting the dollars go for the good of the pious with whom he worked before his riches came to him. The poor workers adore him.

The Palmillo mine is likely to prove one of the largest ore producers ever struck in Mexico. The output will soon reach 2000 tons daily, and Alvarado's income will go up to £100,000 monthly.