Puerto Montt (pwārˈtō mōnt) [key], city (1992 pop. 130,730), capital of Los Lagos region, S central Chile, a port on Ancud Gulf, an inlet of the Pacific Ocean. It is the southern terminus of Chile's mainland railroads and the starting point for navigation through the inland waterways and among the islands to the south. The scenery—forested hills, lakes, narrow fjords, and peaks—helps make Puerto Montt a popular resort. Founded in 1853 and named for Chilean president Manuel Montt, the city was settled largely by Germans. Agriculture and fishing are important, and there are minor industries. The city has endured several earthquakes.