The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-07-14
BUSINESS
ALLIANCE.
Between English and American
Capitalists
Involving Millions of Capital
For Investment in China.
GOVERNMENT BACKING
Is Sought at Westinghouse
Secured In London.
Leading Financial Concerns of
Both Countries in 1t.

New York, July 1.-THE Tribune says:
A business alliance of American ana
English capitalists has been recently
formed which is of unusual interest and
Importance, because of the leading posi-
lions held by these men on both sides
of the Atlantic; because of the many
millions of dollars involved in it; De
cause the United States government Il
about to be asked to give the compact
official sanction and moral support; De
cause England has already formally ap-
proved it and because the held OF us
operations is beyond the JurlSdlctlOn OF
both nations. Announcement OF TINS
alliance was made yesterday by e w
Whitridge of the firm of Carey & w MT
ridge, VINO now fills the place left vacant
by the death of ex-senator CALVIN .
Brice, as chairman of the executive com
mittee of the American emma deNelOp-
nent company. The company is one
party to the agreement and the other
is the British and Chinese corpora
ton.
This makes a combination of the most
powerful capitalists in the world, the
field of their activities IS China me
concessions which ex-senator Brice Sc
cured from the Chinese government Tor
the American-China Development com
pany consist of the right to construct q
railroad $50 miles long from Canton to
HankOW; exceedingly valuable coal
mining concessions and other Industrial
franchise of less Individual but great
aggregate value. The British company
had a contract to build an eighty mile
railway from Canton to KOWlOOn, on the
sea coast The two resolved to pool
their undertaking and their pront Inc
British company apparently got the pet
ter of the bargain, but their ability 10
sell Chinese bonds IN the money mar
kets of Europe exceeded the ability or
the American company to sell Chinese
bonds in America or anywhere else to
such an extent that the advantage -
only apparent
The American company's engineer, W.
Barclay Parsons, OF this city, mas com
pleted the survey of the railway line
from Hankow to Canton and an agent
of the syndicate is now in Shanghai.
He reports that the negotiations at
Pekin have reached a critical stage and
there is a disposition the part OF
the Chinese government, represented by
Sheng Tagen, director of railways, to
avoid fulfilling its part of the contract
This is the cause for appealing TO our
government for moral support
Mr.. Whitridge asserts that Lord Rose
berry has already instructed the British
ambassador in China to treat the con-
tract acquired by the American COM
pany and shared with the English COM
pany, as if it were a British contract
and to urge the Chinese government to
fulfill its terms. The American COM
pany sent Mr.. Parsons to Washington
to make a formal request that the gov
eminent of the United States take a
similar stand. Such a demand upon the
United States government is probably
unprecedented.
The British and Chinese corporation,
limited, is a syndicate composed of the
most powerful hnanciers in Great Brit
ain. among others MeSsrS. AdOiph Won
Andre, Arbuthnot Brothers, Barring
Brothers, Sir John Barry, the eminent
engineers, the Hong Kong and Shang-
hal bank, Messrs. Jardine, Mattheson
q Co.. Ernest Case, the China. and
Japan bank, Sir Auckland Colvin, Gibbs
Brothers, Sir Sand Dawes, Hambro &
Sons, the London and New Zealand E.x-
- -
vestment company, Charles Morrison,
Henry Oppenheim, H. Osborne, O'Hagh,