The people's journal. (Pickens, S.C.) 1891-1903, 1902-08-07
LAND OF THE CE.ESTIALS.
American Capitalists viii Build
Grand Trunk Line In China.

1t is learned from an authoritative
source, says the New York Journul
Of Commerce, that tentative arrange
ments have been made for placing the
$iO 900, 900 in bonds which the Amer
ican China Development Company
has been authorized to issue by impc-
rial decree Of the Chinese govern
mcnt.
| These bonds arc for tho purpose Of
completing tho railroad between Ham
kow and Canton. 1t will be n matter
of several months before tho bonds
can he engraved and ready for deliv-
cry, and it is hardly considered proba-
bic that the transaction involving their
sale will be completed within year.
There is, therefore, little indication of
any very active physical work in the
completion of the new road under the
direct stimulus Of the bond issue.
1t cannot be learned whether the ell
tire issue Of bonds will be taken IN
this country or whether European
subscriptions will DO invited. 1t is
considered probable, however, that the
issue will have an international charac-
ter, as the board of directors Of the
American China Development Com.
pany has foreign members. The nee
essary funds with which to begin the
practical work of building the first Soc
tlon of road were subscribed by the
stockholders some months ago and
were deposited with j. l.. Morgan ~
Go.
The now bonds arc gold issue boar
ing interest at the rate of S per cent.
and running for fifty years. a highly
important feature of the enterprise is
the large amount of supplies which
will be required. IL has been author
itatively stated that the bulk of con-
tracts for such supplies will be placed
in this country, this being the cheap
est market.
The railroad is TO be virtually con-
tinuation of the IM Han line, the OBJ
jcctive point of which is HankOw,
which has bcon aptiy described as
" the Chicago of China" Although
divided from the adjoining town of
Hanyans by the Han river and from
WI Chang, which is The capital of tho
province, by the waters of the Yang
Use, Ilankow constitutes, with its
noighboring cities, one great center of
population, numbering considerably
over 1000 900 souls. But when rail
road has reached Ilankow at Il distance
of $50 miles from Pekin, it has barely
traversed half the breadth of China
from north to south.
1t is at this point that the American
China Development Company will
take up the work OF construction, con-
tlnuing tho road from Uankow, or,
properly speaking, from Wu Chang,
OH the southern bank of the Yang Tso
southwark to Canton. Connecting
with the Lu Han line, under construc-
ticn by Belgian syndicate and, ap-
parenty, having a friendly under
standing with tho projectors of that
enterprise, The American line will fur
nish the southern section with great
trunk road extending from the capital
to Canton, the great port on the China
sea.
AT Pckin connection will be made
with the Chinese imperial railway, the
northern arm Of which joins with the
Manchurian branch Of the trans-Sibe-
iIah loa,t ilOiil (ho hClSu'olHOOu vi
New Chwang. Direct rail commune
cation will thus be provided between
Canton and the great capitals of Eu-
rope. The provinces to be travcrscd
by the American line have popula-
ton twice as great as that of the
United States and are as rich, both in
agricultural and in mineral wealth.
The products OF an important coal
mining region in the province of IIu
Nan and other demands of local traffic
will require the construction of branch
CD which will bring the total length Of
line between IIankOw and Canton up
TO about 800 miles.
From Canton it is intended to cX.
tend the line to point on the main
land opposite Hong Kong, piece of
construction extending over l30 miles,
which an English syndicate is under.
stood TO be ready to undertake.