The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1902-01-09
COMPANY ORGANIZED IN NEW
YORK TO BUILD RAILROADS.
RICH IN MINERAL WEALTH
New Chinese. Railroad will Connect
Canton and European Capitals and
Open Up Vast Section of
Agricultural Territory.
(By Associated press.)


New York, Jan. 9.--The announce
ment is authoritatively made that the
American China Development company
has been organized on "A Arm basis and
that an official demand has been made
on the Chinese government for the issue
of bonds against the constitution of the
Hankow- Canton railway. which has been
chosen, consisting OF Messrs. Augustus
Belmont, Perre Mall, Frederick w.
Whteridge. Charles A. whittier and
William Barclay Parsons of New York,
and Col. Albert Thys and Mr.. Joseph ID.
Volder OF Brussels.
MIR. Parsons IL president Gem
eral Whittier Is treasurer, and
w. i. Bryce Is secretary Of tho
company. The necessary funds have
been subscribed by the stockholdera
with which to begin the construction OF
the first section OF the road and the
money has been deposited with j. p.
Morgan and company, the company's
bankers.
1t is said that a general manager Will
be dispatched to China during the pres
ent month 10 make the necessary prepar-
atIons for beginning construction and
that construction Will follow shortly
thereafter
The Journal OF Commerce says:
"The American China Development
company viii take up the work of con-
structing and continuing the road from
Iankow, or more properly speaking,
from WI Chang, on the southern bank
OF the Yank Use southwark to Canton.
Connecting with the llne under construc-
tion by the Belgian syndicate and. APP
parently, having a friendly understand
ing with the projectors of that enter
prise, the American line will furnish
the southern section OF n great trunk
road, extending from the capital TO
Canton, the great port on the China sea.
Open UP Coal Mines.
At Pekin connection VIII be made with
the Chinese imperial railway where tho
northern arm Joins with the Manchurlan
branch of the trans-Siberian road In tho
neghborhood of New Chwang. Direct
rail- communication Will thus be pro-
vided between Canton and the great
capitals OF Europe.
The provinces to be traverset by the
American line have a population twice
as great as that of the United States
and are rich, both In agricultural and
mineral wealth. The development OF an
important coal mining region In tho
province of Human and other demands
OF local traffic will require the con-
struction of branches which viii bring
the total length of the line between
Hankow and Canton up to 900 miles.
From Canton 1t Is intended to extend
the line to point on the main line to
Hong Kong.
"Following the analogy OF the I.u-IIan
line the Hankow- Canton railway VIII
be known as the Yueh-Han railway,
'Yueh' being the literary railway name OF
Canton. The road will cross or reach tho
fertile and well developed provinces OF
Hupeh, Human, Kiang ST. Kwang 81 and
Kwang Tung, and will doubtless serve
their various provincial capitals with
branch lines for tributary traffic. The
chief products of these regions consists
OF tea, silk, cotton, rice, miIlet and other
cereals leaving to be taken into account
later tile extensive mineral deposits,
which are as yet all but untouched"