The sun., 1896-10-17
CHINA 4 FIELD FoR ExrEnrR1sB.
American Capitalists aud Railroad and
6hin Dnlldern Renreaented There.


WAsHINGToN, Oct. 1o.-Charles Denby. Jr..
the American Charge d'Affaires at Peking dur
ing the temporary absence Of his father. the
Minister there. reports to the State Department
that the interest which American capitalists
and railroad and ship builders are taking In Chi
ma seems to be on the increase. Among these
the American Trading Company of New York,
London, Yokohama, and Shanghai has been the
longest in tho field. In addition to Its usual
business OF exporting and importing. this COM
pany has recently become the agent of tho
Cramp Shipbuilding Company and Of the Union
Iron Works. 1t also represents an American
railroad syndicate, and has submitted bids for
the building of q railroad from Soochow to
Chjnklang and for tho building OF an electric
tramwhy in tho foreign concessions at Shang-
hal. These bids have not as yet been accepted.
During the past winter this company was also
agent for an American banking syndicate, and
entered into negotiations for n loan TO China.
1t Is this same company that has secured con-
cession for a railroad from Chemulpo to Seoul.
in Corea and that has sold two ships on behalf
of the Cramp Company to the Japanese Gov
ernment.
Mr.. A. w. Pass of Port Townsend. Wash, is
the representative at PekinG of a wealthy conf
bination OF capitalists in New York who wish
to secure railroad. mining, and other contracts
In China. This syndicate has organized COM
pany called the American and China Develop.
ment Company, incorporated under the laws OF
tho State of New Jersey Their plans are FAR
reaching and comprehensive. but they have not
yet been brought to n sufficiently definite form
ever, that they will confne their attention to
North China, and that they have at present no
The bethlehem Iron Works have been rep
resented IN Peking during the winter by Capt:
to obtain orders for coast defences. armor
plates. disappearing guns. quick hiring guns;
&e snd M us agent as9 bats Tse
Yanen seem at present disinclined to enter on
naval reconstruction, against which they are
General OF Customs.
The foreign customs revenue IS now almost
German English loans of 200 100000 taels. A
further Indebtedness OF 50.000.000 taels. OH
ance Of the customs revenue now remaining,
and would leave China without revenne from
this source for many years TO come. Want Of
| funds will prevent the purchase OF a large feet
| or great Investment in coast defences.
Gently aPrved IN Pssnx ON
| particular interest attaches This is Mr. fung
Wing Chinese by birth now nntnraized Th;, ,Sa
gentleman who in 1872 accompanied the Chit
nose Educational Mission To, the United States
Emperor to discuss with the Yamen the practi-
cability Of establishing national banking sys-
a system. IL honestly and inteilgently carried
out could be made 70 relieve China l OF as great rat
| part OF her present nnanclal puruens anu Iub
| her currency upon q better footing. No
difficulty would be found In taking up
| several hundred million taels of bonds
| to form the basis of o banking circulation, but
| 1t Is not certain that the money which the Gov
| ernmsnt would SO obtain would DO "! !se.J used.
| MIR. Yung Wing has the advantage Of speaking
| Chinese perfectly. He dresses in Chinese cos
| tune. and he Is in intimate social relations with
| the Ministers OF the Yamen and other officials.
| All OF these compRnes and agents have re-
| ported to this legation for assistance and ad-
| vice which have been freely and impartially
| given. They have been aided by introductions
! TO Chinese officials. by the making of traasla-
| tions and by unofficial assurances OF the stand
| Ing Of the firms they REPRESENT.