The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-07-22
RAILROAD FOR
The ORIENT
ARRANGEMENTS MADE FOR
PLACING LOAN.
WILL OPEN RICH COUNTRY
American-China Development Com.
pany Will Place Forty Millions in
Bonds to Complete Railways.

6OnoS 10 complete HallwayS, 4M#
New York, July 18.-It is learned
from an authoritative source, says the
Journal of Commerce, that tentative
arrangements have been made for
placing 100000 900 in bonds which
the American-Chin Development
company has been authorized to issue
by imperial decree of the Chinese gov
eminent. These bonds are for the
purpose of completing the railroad be-
tween krakow and Canton. It will
be a. matter of several months before
the bonds can be engraved and ready
for delivery and it is hardly consider
ed probable that the transaction in
volving their sale will be completed
within a year.
There is little indication of any very
active physical work in the compile
ton of the new road, under the direct
stimulus of the bond issue. It cannot
be learned whether the entire issue
of bonds will be taken in this country
or whether European subscriptions
will be taken.
which to begin the practical
work Of building the first
section of the road were sub
scribed by the stockholders some
months ago and were deposited with
J. p. Morgan & Co. The new bonds
are a gold issue bearing interest at
the rate ct 4 per cent and running so
years. A highly important feature
of the enterprise is the large amount
of supplies which will be required.
1t has been authoritatively stated that
the bulk of contracts for such sup
plies will be placed in this country,
this being the cheapest market.
The railroad is to be virtually a
continuation ct the Lu Han line, the
objective point of which is Hankow,
which has been appropriately describ-
ed as .'the Chicago Of China"
Though divided from the adjoining
town Of Han Yang by the Han river,
and from WI Chang, which is the cap
ital of the province, by the waters
of the Yang-Tse, Hankow constitutes
with it's neighboring cities one great
center of population numbering con
siderably over 2,OOO,O 900 souls. But
when a railroad has reached Hankow
at a distance of some $50 miles from
Pekin, it has barely traversed half
the breadth of China from north to
south.
1t is at this point that the Ameri-
can-China Development company will
take up the work of construction, con-
tinuing the road from Hankow, or
more properly speaking from WI
Chang, on the southern bank Of the.
Yang-Tse, southwark to Canton. Con-
Meeting with the Lube line, and ap-
parently having a friendly under
standing with the projectors of that
enterprise, the American line will
furnish the southern section of a great
trunk road extending from the capital
to Canton, the great port on the China
sea. At Pekin connection will be
made with the Chinese Imperial rail-
way. the northern arm Of which joins
with the Manchurian branch of the
Trans-Siberian road from the neigh
borhood of New Chwang.
Direct rail communication will thus
bes provided between Canton and the
great capitals of Europe. The pro-
vinces to be traversed by the Ameri-
can line have a population twice as
great as that of the United States and
are rich in mineral wealth. The de-
velopment of an important coal min
ing region in the province of Human
and other demands of local traffic
will require the construction OF
branches which will bring the total
length of line between Hankow and
Canton Up to about 900 miles.
From Canton it is intended to ex-
tend the line to a point in the main
land opposite Hong Kong, a piece OF
construction extending over 100 miles,
which an English syndicate, it is un-
derstood, is ready to undertake.
SUSTAINED ADMIRAL DEWEY.