The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1902-07-30
LAND OF THE cHLEsTIALs.
American Capitalists VIII Build
Grand Trunk Line in China.

~NWSNicah capitalists VIII Build
Grand Trunk Line i'm China.
1t is learned from an authoritative
source, says the New York Journal
Of Commerce, that tentative arrange
ments have been made for placing the
$4O,0 900 in bonds which the Amer
lean China Development Company
TAI been authorized to issue by impe-
rial decree of the Chinese govern
ment.
These bonds are for the purpose of
completing the railroad between Han
kow and Canton. 1t will be a matter
OF several months before the bonds
can lie engraved and ready for deliy-
cry, and it is hardly considered proba-
Die that the transaction involving their
sale will be completed within a 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 en-.
tire issue of bonds will be taken IN
this country or whether European
subscriptions will be 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 Sec
ton Of road were subscribed by the
stockholders some months ago and
were deposited with j. z. Morgan 81
Co.
The new bonds are a gold issue bear
ing interest at the rate of 8 per cent.
and running for fifty years. A highly
important feature of the enterprise is
the large amount Of supplies which
will be required. 1t has been author
itatively stated hat 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 q con-
t%inuation of the Lu Han line, the OBJ
%jective point of which is Hankow.
which has been aptly described as
" the Chicago of China" Although
divided from the adjoining town of
Hanyang by the Han river and from
WI Chang, which is the capital of the
province, by the waters of the Yang
Use, Hankow constitutes, with its
neighboring cities, one great center OF
population, numbering considerably
over 1000 900 souls. But when a rail.
road has reached Hankow at a distance
of $50 miles from Pekiu, 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 the road from Hankow, or.
properly speaking, from WI Chang
on the southern bank of the Yang Use
southwark to Canton. Connecting
with the Lu Han line, under construc.
ton by a Belgian syndicate and, APP.
parently, having a friendly under.
standing with the projectors of tina,
enterprise, the American line will fur.
nish the southern section with % great
trunk road extending from the capita
TO Canton, the great port on the China
sea.
At Pekin connection will be made
with the Chinese imperial railway, the
northern arm of which joins with the
Manchurian branch of the trans-Sibe
rian road from the neighborhood O
New Chwang. Direct rail comn1uni
cation will thus be provided between
Canton and the great capitals of Eu
rope. The provinces TO be traverset
by the American line have a popula
ton twice as great as hat of tn,
United States and are as rich, both il
agricultural and in mineral wealth
The products OF an important Goa
mining region in the province of Ill
Nan and other demands of local traGi,
will require the construction of branch
es which will bring the total length o
line between Hankow and Canton III
to about 900 miles.
From Canton it is intended to eX
tend the line to a point on the main
land opposite Hong Kong, a piece O
construction extending ever 100 miles
which an English syndicate is under
stood to be ready to undertake.