The times., 1898-05-15
THE SCHEME IS NOT DEAD
Syndicate TO Finance Cuba
Quietly Waits.
MEN IN CONGRESS- KNOW 1T
The Ends Hoped to He Compassed
Include the Control of All Com
cessIons at the Disposal of the
New Republic and "a Two Hundred
Million Dollar Bond Issue.

The scheme of several distinguished
philanthropists to finance Cuba" has
not been abandoned 1t is only bottled
up for the present, as the gentlemen be-
hind 1t have sagaclously concluded that
their purpose to profit by the patriotic
deeds of the nation would not at this
time be accorded popular approval
ofhcials and members Of Congress who
have looked into the matter anticipate
an extraordinary degree of activity on
the part of the mysterious syndicate,
which entered into negotiations with the
self-constituted leaders Of the govern
ment of Cuba, so-called with the ulti-
mate purpose of controlling the most de-
sirable concessions which the new gov
ernment of Cuba will have to bestow.
Almost all the men who were at first
represented as being Interested in the
project to fill the empty treasury of the
new government which is to be created
after America has driven the
Spaniards awey, in return for these
valuable concessions-ba banking, railways,
steamships and the control of the sugar
and tobacco products among the rest
have denied the existence of the synJi-
cate
Perhaps the syndicate does not exist
at present. That il did exist. there is
h,tle room 10 doubt AMI upon precisely
the INES as described by this newspaper
There are a number of men in Con
sfess who know that the syndicate wa,
formed. A member of Congress who en-
JOYS the confidence of the President ana
VINO, upon one occasion. rebuked LAWYER
John j. McCook. of New York city. vol
unteers confirmation of the syndicate.
which was organized to finance Cuba.
and had actually entered into negotia-
tlohs with the representatives of the Gu
ban Junta in New York The terms Of
the contract which was to result from
these nego citations contemplated the fol-
lowing provisions:
T. The ultimate establishment OF the
republic of Cuba. upon the same lines as
ence.
- The issue and purchase of 5000 900 :
W. oi bonds by the syndicate. the same
to be guaranteed by the revenues of the
lsIand. customs and direct tax; or the
granting of concessions to establish bank
ing railway telegraph. and steamship sys-
tens in the island in return for the pro-
posed loan
The confidence of the member Of Con-
gress who confirms the existence of the
syndicate in the accuracy of the informa-
ton which reached him was expressed bv
him in these words:
Il believe that behind the movement to
recognize the present government of Gu
ba there is gigantic financial scheme
which, If carried on in the manner pro-
jected by its promoters, will result in the
creation Of a monopoly which viii con-
/ troll every concession on the island worth
having"
The only admission that Mr. MeCook
ever made Of having any interest in the
welfare of Cuba other than that dictated
by the broad and commendable spirit of
patriotism and humanity which has in
spired the interest of every good citizen
was in conversation with the member of
/ Congress who expressed the opinion in
/ open debate that Mr. McCooks activity
to secure the recognition of the existing
! government of Cuba was inspired by busi-
ness considerations.
! Mr.. McCook came to me-" said the
member today, and asked me to with
( draw what he styled my attack upon
/ him ! told him that ! would present any
/ statement he might desire to make. He
J then denied that he had any interest in
the Cuban bond project or had ever been
! retained by the Cuban Junta or any Of its
| agents.
He admitted. however that he had de-
voted a good deal of attention to the study
1 of Cuba ] understood him to say that
his interest in Cuba did not concern its
present status but its future. He said he
| did not own a share of Cuban bonds, but
was interested in the future of the island
and its resources after it should be freed
| from Spanish rule.