The record-union., 1899-08-30
Which viii Invest Millions of Dollars In
the FloWery Kingdom.
Understood That the Chinese Gov
ernment is Back of the Enter
prise and the Object is to In
can Capital in the Oriental EN-
pire.

SAN FRANCISCO, Aug. 29.-The
Cali tomorrow will say that Chin
ese-American corporation is in process
of organization here, with capital OF
$4,000, 900, for the purpose OF estab-
fishing in China large enterprises, the
scope of which will reach into every in
dustry
The prime mover in the formation of
the company is said to be the Chinese
Consul-General at San Francisco, Ho
You. 1t is understood that the Chinese
Government is back of the undertak-
ing, and it is surmised that the ulterior
object of the Oriental statesman is to
induce the investment in China or
American capital in such large amounts
as will influence the United states
Government to take an active interest
in Chinese politics, and indirectly resist
the aggression of European Powers and
prevent the dismemberment Of the
Chinese Empire, while incidentally pro-
tecting the American capital which will
be invested.
A meeting was held to-day at the
Chinese Consulate, at which were pres
ent a number of American and Chinese
capitalists The plans of the nooted
corporation were presented by the
Chinese Consul General, and discussed
in all their bearings, and it is said that
sufficient capital was guaranteed for
the proposed company to secure its sue
cessful operation.
The names of those who will invest
in this undertaking are being carefully
guarded, in the meantime, and although
~, ie a n assured
fact none of those reputed to be con-
nected with it will divulge the details
of the proposed corporation 1t is IN
derstood that the guarantors Of the
stock include several of the wealthiest
members of the Chinese Six Companies,
and that American capital to the extent
of many millions has been pledged to
the success of the enterprise, the capl-
tai represented being brought from
cities in all parts of the United States.
If the operations of this corporation
prove successful the promoters believe
that it's scope may be extended into
practically unlimited field; that rail-
ways may be constructed and operated
and many manufacturing plants may
be established. 1t is said that the con-
cessions offered by the Chinese Gov
ernment are remarkably liberal, and OF
almost inestimable value to the pro-
moters who expect to enter upon rich
field for their commercial operations.
The proposition is to form a United
States and China Trading Company,
with a capital of $50 100000, with
general charter which will permit of the
most extensive field of operations, the
scope of which will be determined by
the investors. It's purpose is TO deal
as direct purchaser or agent in the nat
ural products of manufactured articles
of each country, with a view of intro
ducing American products into China;
establish branch houses in every treaty
port of China; arrange for and accept
contracts for the construction of rail-
ways building of steamships, warships
or other vessels for the Chinese Gov
ernment or private concerns; to form
and promote special syndicates, ETC.,
and in fact the aim of the company
shall be to take advantage of each and
every opportunity that may appear to
afford a profitable outcome"
From reliable sources it is learned
that while the proposition of the Con-
sui General is unofficial, it has the
sanction Of the high powers of China.
With this backing such company
could secure and absorb every fran
chise and concession within the gift of
the Chinese Government, and the grant
ing of these concessions to such an
organization as contemplated would be
sufficient excuse for the Chinese Gov
ernment refusing requests or demands
for the same from the grasping Powers
of Europe. With these interests vested
in America, the Chinese argue that the
United States would be obliged to pro-
tect the rights of it's citizens.
The general plan of organization is
to apportion shares in the company to
merchants, capitalists and corporations
at various points. This would naturally
prevent Capitalization of the company
in any section of the United States, but
would make the whole nation a party
to any infringement upon the interests
and rights held by it's citizens in the
Orient. 1t is stated that the project is
being advanced among other capital
lists than those of San Francisco