The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-04-04
CHANG-YI.

A Wealthy Chinese and How He OBJ
tanned His Wealth Honestly.
As such frequent reference is being
made just now to Chang-Ki, the chief
director of the Chinese Engineering and
Mining company and of the mining OPP
erations in Chilli and Southwest Mon
golia, and assistant director of the I'M
perial Northern railways, and as
ChangYi is undoubtedly the coming
man in China, it appears to me, says a
correspondent, that few facts about
] this man, whom I had the pleasure of
meeting in Tien-Tsin last year. would
be interesting to your readers. Chang
vi, whose family name is ChangYen
Now, is about fifty years of age. He is
of medium height, of rather solid build,
and has prepossessing bearing and in
4 telligent face He Is, unfortunately, I'M
acquainted with the English language,
but Notwithstanding that, he is natur-
ally an attentive listener, and follows
closely the drift of the conversation by
observing the manner and intonation
of his English visitors, even before their
remarks are translated to him. His
quietness of demeanor bears striking
contrast to the brusquerie, to put 1T
mildly, of Lii Hung Chang, and he is
quick in seizng points.
Mr.. Moreing and another friend in
troduced me to Chang-Yi, and the latter
understood my position and duties at
once when the Interpreter told him | had
been in charge of the survey and geo.
graphical business of the India office
for many years. In his early days
Chang-Yi was follower of Prince Gun
(the seventh Prince and father of the
present Emperor), and contractor for
imperial and public buildings and
works at Pekin. AS he began to save
and become better off he took up shares
in large banking and other remunera-
tive undertakings in the capital, as well
as in Tien-Tsin, Shanghai, Kalgan and
other places, and at the present time he
is probably one of the most wealthy
business men In the north Of China or
course, it is easy to cast stones, and to
contend as the correspondent of one of
the news agencies does that this wealth
must have been acquired dishonesty;
but an argument of this sort unsup-
ported by shred of proof is not likely
to impose on fair-minded men. There
are wealthy men in China, as elsewhere,
who have made money by fair means,
and Chang-Yi's whole career entirely
bellies the aspersions so unfairly cast on
him during the last few weeks.
Chang-Yi became assistant Of the
Kaiping Galleries during the director
e1,i ,1 oP inc Zinc fIyb a
Cantonese), and at the death of the lat
ter was appointed by the Imperial gov
eminent chief director. These mines lie
a few miles from the coast in the north
western angle of the Gulf of Chilli.
visited them in June last, and des
cended the pit, inspecting several of
the seams and workings. The appoint
ment of director, was more or less fore
ed on Chang-Yi but he made it a con-
dition before accepting that he would
be allowed free hand in making any
administrative changes in the works
that might be necessary. The wisdom
of this condition seems to me to have
been proved by the sequel. Up to the
time of Tong's death the coal mines had
been only clearing their working eX-
penses, leaving 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 an
another dividend for the share
holders. The value Of the shares natur- |
ally rose. At the time of Chang Yrs as |
of the dictatorship the 10-tael |
shares We're down to so; in January last |
they stood at 1870 taels, and were rising
in price, the majority of the sharehold- |
srs being Cantonese. Since Chang Yi's |
the shareholders have
yearly received per cent or more, and ,
asst year they got - per cent. and at |
he same time two new steamers of g.
100 tons each We're brought. This fact
If itself ought to dispose of the hints
If corruption" which, I regret to say,
nave been even repeated in an article
If the leading newspaper.
Much has been said by Reuters cor
at Pekin of the dismissal Of
from the chief dictatorship
If the imperial railways, and his vir-
ual supersession by ChangYi. On this
do not propose to dwell, but it is a
notable fact that the only time when
he railway shareholders received a div
dend-i. e., 6 per cent. for the year
vas when the two We're associated in
he directorate. Hu-Yu-Fen and
IhangYi did not, however, pull well
ogether, and the former brought about
yhang-Yi's removal from the post. Re
emily, as we know, Hu-Yu-Fen has
een removed from the chief director
hip, and Hsu-Ching Cheng has been
ppointed to succeed him, while Chang | s
i has resumed his old post as assist
mt director. In 1886 Chang-Yi came to
'ort Arthur in the suite of the seventh 5
'rince. 1t was on that occasion that
1r. Detring first made the acquaint-
nee of Chang-Yi, Mr.. Detring himself