The times., 1899-03-31
A RICH CHINAMAN.
How Chang-Yi Obtained His Vast
Wealth Honestly.
CfrOm the London obseryer.)

Wealth Honestly.
(From the London obseryer)
AS such frequent reference is being made |
just now TO Chang-Yi, the chief director of |
the Chinese Engineering and Mining Com |
pany and OF the mining operations in Chi |
Ii and Southwest Mongolia. and assistant |
director of the Imperial Northern Rail-
ways, and as Chang vi is undoubtedly the
coming man in China, it appears TO me, |
says correspondent, that few facts
about this man, whom l had the pleasure
of meeting in Tien-Tsin last year, would !
be interesting to your readers. Chang-Yi, |
whose family name is Chang Yen Now, is |
about fifty years of age. He is of medium
height, of rather solid build, and has pre-
possessing bearing and intelligent face.
He is, unfortunately, unacquainted with
The English language but Notwithstanding
that, he is naturally an attentive listener, |
and follows closely the drift of the CONVEX
sation, by observing the manner and into
nation of his English visitors. even before
their remarks are translated to him. His
quietness of demeanor bears a striking
contrast TO the brusquerie, to put 1t mildly,
of Ii Hung Chang, and he is quick in seiz-
| ing points.
Mr.. Moreing and another friend intro
duced me TO Cbang-Yi and the latter un-
derstood my position and duties at once
when the interpreter told him l hal been
| in charge of the survey and geographical
| business of the India office for many years
In his early days Chang-Yi was follower
OF Prince Gun tthe seventh prince and
| father of the present Emperor and con-
| tractor for imperial and public buildings
and works at Peking. As he began to save
and become better of he took up shares
| in large banking and other remunerative
| undertakings in the capital, as well as in
Tien-Tsin. Shanghai Kalgan and other
DlacPS and the inn ha is
| ably one OF the most wealthy business men
| in the north of China. OF course, Ii is
easy TO cast stones, and to contend, as the
correspondent of one of the news agencies
does. that this wealth must have been ac-
quired dishonesty; but an argument of this
| sort, unsupported by shred of proof is NOT
| likely to impose on faiT-minded men There
are wealthy men in China. as elsewhere.
who have made money by fair means, and
Chang-fi's whole career entirely bellies the
| aspersions so unfairly cast on him during
the last few weeks.
Chang-Yi became assistant of the Kai-
| ping Coilieries during the dictatorship of
| Ton -king-Sing twho vas a CANTONESE,
| and at the death of the latter was ap-
pointed by the imperial Government chief
! director. These mines lie a few miles
from the coast in the northwestern angle
OF the Gulf of Pe-Chi-Li. | visited them
| in June last and descended the pit, in
/ SptSliUS several OF Tue Std[nS ana WORK
| ings- The appointment of director was
more or less forced on Chang VI but he
made ii a condition before accepting that
1 he would be allowed free hand in max
ing any administrative changes in the
works that might be necessary. The wis
dom of this condition seems to me TO have
been proved by the sequel. Up TO the time
of Tongs death the coal mines had been
only clearing their working expenses leav-
| ing little or no return to the shareholders
| only one dividend of 10 per cent having
been paid in about fifteen years. Chang
| vi brought energy and business principles
| into the work. and in a short time he was
able to announce another dividend for the
| shareholders. At the time of Chang Yi's
assumption OF the directorship the 100 tael
shares were down to 80; in January last
| they stood at 130 taels. and were rising in
| price. the majority of the shareholders be-
| ing Cantonese. Since Chang Yi's appoint
ment the shareholders have yearly re-
ceived per cent Or more, and last year
| they got II per cent, and AT the same time
| Two new steamers of 1000 tons each were
bought. This fact of itself ought 10 dis
| pose OF the hints of corruption which,
regret TO say, have been even repeated in
! an article of the leading newspaper.
| Much has been said by Reuters CORE
spondent at Peking Of the dismissal of HUI
| Yu-Fen from the chief directorshp of the
! imperial railways, and his virtual super
| session by Chang-Yi. On this | do not
| propose to dwell, but it is a notable fact
/ that the only time when the railway share
! holders received a dividend. e., per
| cent for the year-was when the two were
| associated in the directorate. Hu-Yu-Fen
and Chang-Yi did not, however. pull well
together, and the former brought about
| ChangYis removal from the post RE
Gently, as we know, Hu-Yu-Fen has besn
removed from the chief dictatorship. and
| Hsu-C Ching Cheng has been appointed TO
succeed him, while Chang-Yi has resumed
| his old post as assistant director. In 1856
| ChangYi came to Port Arthur in the suite
of the seventh Prince. 1t was on that oc-
casion that Mr.. Detring first made the &c
| quaintance of Chang-Yi, Mr.. Detring him
| self being then In the Imperial Maritime
Customs Department. where for many
years he rendered valuable service aud
where he would certainly have been nomi-
| mated TO succeed Sir Robert Hart had not
his nationality tGerman) precluded this.
! Ii is. of course, quite untrue as alleged
| by Reuters correspondent, that DetrinS
is an official of the Russo-Chinese Bank
Chang-Yi and Detring met at Port Arthur
under interesting circumstances. narrated
| TO me by Capt. John Calder. There were
some ceremonial arrangements to be car
ried out in connection with the Princes
reception of the foreign admirals and his
| landing and stay at the port. Detring
was asked to arrange the details of these
matters on behalf of the Prince; in vain
he tried TO make matters clear to the
Chinese officials who had been appointed
TO act with him. Suddenly, in the crowd
| OF functionares and followers he caught
sight of what seemed to him to be an un-
usually intelligent face; he called the man
UP and talked with him, and found that in
| few minutes the whole ceremonial ar
! rangements were clearly understood and
| grasped by this man, and that to him the
entire supervision of the details could be
| safely intrusted. This man was Chang-Yi.
| and since that time close friendship has
| existed between the two
| In his personal dealings with Chang VI
| Captain Calder says he has found him TO be
! very cautious. clear headed, and broad
minded. Chang-Yi is careful to get exact
| opinions and information before acting but
| having decided on the principal course to
| be adopted, he leaves his subordinates a
| free hand in matters OF detail. only reauir-
| ing to be kept in touch with the progress
made. In brief, he is thorough business
man, with no ambition for a political ca
| reer. but with secret desire (as his
friends agree in thinking) to be the iron
| and coal king" of China. Chang-YI holds
a considerable share of the stock in the
Chinese Engineering and Mining Companys
| undertaking; he has also substantial shares
in Chinese banking houses. which are
known to be very remuneratiye.
For your EssteI's dinner you will want a casr
| OF Heurichs Maerzen, Senate, Lager Beer
lt.... A-1.-