The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1899-07-14
INTERESTS
POOLED
Anglo American Syndicate to
Operate in China.
Company Established by the Late.
Calvin s. Brice in League With
British Capitalists to Enforce
Railroad Concessions and Con-
tracts A Powerful Financial
Combine.

New York, July IA business alli-
ance of American and English capitalists
has been recently formed which is of un-
usual interest and importance, because of
| the leading positions held by these men
on both sides of the Atlantic, because of
the many millions of dollars involved in
| it, because the United States government
| is about to be asked to give the compact
official sanction and moral support, be-
cause England has already formally ap-
proved it and because the field of its op-
erations is beyond the jurisdiction of
both nations.
Announcement of this alliance was
made yesterday by f. w. Whitridge of
the firm of Cary & Whitridge, who now
fills the place left vacant by the death
of ex-senator Calvin S. Brice as chair
man of the executive committee of the
American China Development company
The company is one party to the agree
ment, and the other is the British and
Chinese corporation.
This makes a combination of the most
powerful capitalists in the world. The
field of their activities is China.
The concessions which ex-senator
Brice secured from the Chinese govern
ment for the American Develop.
ment company consists of the right to
construct railroad $50 miles long, from
Canton to Hankow; exceedingly valuable
coal mining concessions and other indus
trial franchises of less individual but
great aggregate value. The British COM
pany had a contractsto build an 80 mile
railway from Canton TO Kowloon, on the
seacoast. The two resolved to pool their
undertaking and their profit
The British company apparently got
the better of the bargain, and their abil-
ity to sell Chinese bonds in the money
market of Europe exceeded the ability of
the American company to sell Chinese
bonds in America or anywhere else, to
such an extent TINT the advantage is on
ly apparent.
The American company's engineer, w.
Barclay Pareons of this city, has COM
pleted the survey of the railroad line
from Hankow to. Canton and an agent
of the syndicate is now in Shanghai
He reports that the negotiations at Pc
king have reached a critical stage and
that there is disposition on the part of
the Chinese government represented by
Sheng Taieh, director of railways, to
;avoid fulfilling it's part. of the, contract.
I@This Il the cause for appealing to our
government for moral support.
Backed By Great Britain.
Mr.. Whitridge asserts that Lord Sails
bury has already instructed the British
ambassador IN China to treat the con-
tract secured by the American company
and shared with the English company as
If it were a British contract and urge
the Chinese government to fulflls its
terMs. The American company sent
Mr.. Parsons 20 Washington yesterday to
make a formal request that the govern
ment of the United States take similar
stand. Such demand upon the United
States government is probably unprece-
dented.
The British and Chinese corporation,
limited (the London, capital involved, is
syndicate composed of the most power
full fnanciers in Great Britain
The American China Development
company includes Kuhn, Loeb & Co.,
Merton, bliss & CO., the. Central Trust
company, II. G. Koster of J. P. Morgdn
& Co., the Chase National bank, the
First National bank. John Hegeman,
president Of the Metropolitan Life In
suraRce company; Marcellus Hartley of
Hartley & Graham, j.. Donald. Cameron
Of Pennsylvania. Henry Wol&tt, Hugh
J. Grsnt, Moore &-Schley, the Canpegie
Steel company, Arthur Sewan Of Maine,
@. 9. Griseom of tho International Nav
igation company, &. D. Adams, repre-
sentative Of the Deqtsehe bank Of Ber-
lin for America; the Roekefellefs, the
Manhattan Trust company, SOME mem
bers of the Vanderbilt family and Others
of equal standing.
The capital OF the British and Chinese
corporation is f1000,OO0, with power to
increase it. This win probably be done
to the extent Of f5,000,00O The capital
of the American China Development
Company is 81 100000; with similar pow
er Of increase, which may be avaied of
to the extent of $350O0,000 or 100000
000