New-York tribune., 1899-07-14
VAST INTERESTS POOLED.
BRITISH AND AMERICAN CAPITALISTS
JOIN IN BUILDING CHINESE
RAILROADS.
THE DISPOSITION OF PEKING AUTHORITIES TO
BREAK THE CONTRACT MEETS WITH
PROTEST FROM ENGrAND-AN AP-
PEAL, WASHINGTON

capitalists has been recently formed which Is OF
unusual interest and Importance because of the
leading positions held by these men on both
sides OF the Atlantic because Of the many mill
ions Of dollars involved in it, because the
United States Government Is about 10 be asked
to give the compact official sanction and moral
support because England has already formally
approved IT, and because the field Of its opera
tions is beyond the jurisdiction OF both nations.
Announcement Of this alliance was made yes
terday by F. W whitridge Of the firm Of Cary
& Whtridge lawyers. Of No. 80 Broadway, VINO
now fills the place left vacant by the death OF
ex-senator Calvin s Brice as chairman OF the
Executive Committee Of the American emma
Development Company This company is one
party to the agreement and the other is the
British and Chinese Corporation
Among those interested in the American com
pany are Kuhn. Loeb & Co.. Morton. Bliss &
Co.. the Central Trust Company. c. H. Coster, Of
]. p Morgan e. Co.. Brown Brothers e. Co. Yer
milye & Co.. the Chase National Bank. the First
National Bank John r Hegeman. president Of
tho Metropolitan Life Insurance Company; Mar
cellus Hartley. NJ Hartley & Graham J. Donald
Cameron. Of Pennsylvania; Henry Woicott' OF
Colorado. Hugh J. Grant. r. n. Hartman
George q Haven. Thomas F. Ryan, Moore q
Schlev the Carnegie Steel Company, Arthur
sewau. Of Maine; Clement A. Griscom' h. ~
Adams the Rockefellers. the Manhattan Trust
Cornpanv. some members OF the Nanderolt
family and others OF equal standing
THE BRITISH FINANCIERs.
The English syndicate includes dolf Won An
dra the Arbuthnot Brothers Barring Brothers.
Sir John Barry, royal engineer the Hong Kong
Shanghai Bank Jardne. Matheson Co En-
nest CasseL the China and japan Bank SIT
Auckland Colvln. Gibbs Brothers, sir Ed"yn
Sandys Dawes Hambro Sons the LONDON ana
New-Zealand Exploration Company. the Mer-
camille Investment Trust, Charles Morrisoh
,Henrv Oppenheim H. Osborne O'Hagan, the
Railway Share Trust Lord Rothschiid' sir
Thomas Sutherland Henry Parmure GORDON
: 6 Gladstone Sir Marcus Samuel. the sas-
soons John Walter the Lord Mayor OF Londoh
and other we'll known people.
This makes a combination Of the most pow
erfuI capitalists in the world" says Mr. WHIT
ridge The field Of their activities IS emma
The concessions which ex-senator Brice Sc
cured from the Chinese Government Tor tne
American. China Development Company have
already been reported in the newspapers. Ihey
consist Of the right TO construct railroad go
miles long. from Canton 10 Hankow exceeding
" valuable coal mining concessions, and other
l
I aegragate value. The British company had
| contract 10 build an eighty mile railway from
/ Canton N Kowloon on the sescOast The Two
/ resolved N pool their undertakings and their
4 ,ro6t- The British company apparently got the
/ better Of the bargain, but their ability 70 sell
! Chinese bonds In the money markets OF Europe
/ exceeded the ability OF the American company
10 sell Chinese bonds in America or anywhere
! else 10 such an extent that the advantage ID
only apparent
CRITICAL ELOPMENTs AT PEKING.
The American company's engineer. W Bar
clsv Parsons OF this city has completed the
survey of the railroad line from Hankow 10
| Canton and an agent f the syndicate is now
in shanghai He reports that the negotiations
AT Pekng have reached critical state ana tnat
there is disposition on the part OF tne ChlHTse
/ Government represented ny Sneng IaJeu' -
ractor ~ Railways to avoid fulfilling its part OF
/ the contract This is the cause for appearing
/ 70 our Government for moral support
/ NJ Whitridge asserts that Lord SALISBURY mas
al-aadv instructed the British Ambassador IN
! China 10 treat the contract secured by the
| American company. and shared with the tns-
/ Iish Company as II II were Brlush C%olII % ~ ~, I
! - rrga the Chinese Government to fulhl IT'S
/ terms The American company sent MI: far ,
sons 70 Washington yesterday 10 make lor rila, II !
] reouest that the Government or the Chle9
states take a similar stand SUCH deinanl ia
| unon the United States Government is prooaniy
| unnrecedented. and some doubt was expresseu
IN Wall Street yesterday or It's Delng acceueu ~
] NJ Whitridge asserts that the Chinese Gov
ernment is accustomed in dealing with Foreign
| ers alWavs TO meet the official representatives.
| ~ the countries 10 which those foreigners pc
| long and Il has been somewhat puzzeG oy the
| failure NJ the United States 70 take the same
position in matters Of this kind as otner gov
! ernments do and il Is hoped tnat the Chlteu
! S,atss Government may do at least as much
| 90 American business men operating in for
e,gn lands as the British Government continual
| l., docs for its merchants, and has done IN the
| present instance
CAPITAL OF THE COMPANIES
The capital Of the British and Chinese Cor
nora,ion is 100000. with power 10 increase
8, This will probably be done 10 the extent or
/ - 100000 The capital of the American emma
| development Company Is Slor"N WIN
similar power Of increase. which may be availed
70 the extent Of $35,O000O or $4oOoV"
It has contracted to build the 100 miles or
road for the Chinese Government. Imperial
Chinese bonds to the amount OF sZo""o" VIII
Ia ,ssuad and given to the contractors at w
! 80 On the dollar in payment for their ser
,ices These bonds bear per cent interest
/ After a term Of years the Government can re-
deem these bonds. and tnen the toau WIZ ~ "
/ long wholly 10 China. In the mean time the cOn-
! ,-actora will operate II for 20 per cent or the
Profits The district through whlcn IL runs -
! estimated to contain one hundreu HilIou ~ III
! habt,ants and the passenger ana relght tralIlc
III he Immense az soon the rails are laid
| Coal fields Of great extent lie tributary anu
| odtacent to the road, and the companys cleo
tric light and power concessions are expected
n return large profits in many Chinese clties.
~ mis- road is built with American capital IL IS
II taIH as.tI,, sxoected 10 open up wide and new
6eld for American exports OF many KINDS rms
argument will be used for all it Is worth al
Washington. when request Tor oihcial recos-
! nition OF the contract is mace.
An ADDRESS BY SERGEANT STROPE.