Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1902-07-19
AMERICANS TO SPEND
MILLIONS IN FAR EAST
Great Railroads to Be Con
structed In China.
s4o,ooo,ooo is TO BE EXPENDED

Steel Rails Will Span Land of the Ce'
lestals From Hankow to Canton,
Distance of Nine Hundred Miles,
Gigantic Undertaking.
New York, July 1S.-It is learned
from an authoritative source, says The
Journal of Commerce, that tentative
arrangements have been made TO.
placing the $4O,000,O0O in bonds which
the American China Development com
pany has been authorized to Issue by
imperial decree of the Chinese gov
ernment
These bonds are for the purpose Of
completing the railroad between Han.
kow and Canton. 1t will be matter
of several months before the bonds
can be engraved and ready for deliV'
cry and it is hardly considered proba'
BILE 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 tho
direct stimulus of the bond issue.
1t cannot be learned whether the
entire issue of bonds will be taken in
this country or whether European sub.
scriptions will be invited. 1t is con
sidered probable however that the is
sue will have an international char.
acter, as the board of directors of tho
American China Development comp@
ny has foreign members The nee.
essary funds with which to begin the
practical work of building the first
section of the road were subscribed
by the stockholders some months aga
and were deposited with the J. p.
Morgan & Co
The new bonds are gold issue,
bearing interest at the rate of 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 au.
thoritatively stated that the bulk OF
contracts for such supplies will be
placed in this country, this being the
cheapest market.
The railroad is to be virtually a
objective point of which is Hankow
which has been aptly described al
the Chicago of China" Although
divided from the adjoining town o!
Hanyang by the Han river and from
Wu Chang, which is the capital of
the province, by the waters of the
Yang Use, Hankow constitutes, with
its neighboring cities, one great cen
ter of population, numbering consider
ably over 2.000,0 900 souls. But when q
railroad has reached Hankow at a
distance of some $50 miles from Pekinl
it has barely traveresed one-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, cOntinu
ing the road from Hankow or, moro
properly speaking, from Wu Chang
on the southern bank Of the Yang Tsd
southwark to Canton. Connecting
with the Lu Han line, under construc
ton by Belgian syndicate and, ap
parently having a friendly under
standing with the projectors of that
enterprise, the American line will fur
nish the southern section with great
trunk road, extending from the CAPT
tai to Canton, the great port of the Chi
ma sea.
At Pektn connection will be made
with the Chinese imperial railway, tho
northern arm of which joins with the
Manchurlan branch Of the transSiberi
an road from the neighborhood Of New
Chwang. Direct rail communication
will thus be provided between Canto1
and the great capitals of Europe. Thai
provinces ~ be trayersed by the Amer
lean line have a population twice az
great as that Of The United States and
are as rich both in agricultural and IN
wealth The products Of an impor !
tant coal mining region in the province
of Hu Nan and other demands Of local
traffic viii require the construction OF
branches which will bring the total
length of line between Hankow and
Canton up to about 900 miles.