The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-07-18
.$4O,OOO,OOO IN BONDS
Have Been Negotiated For Railway
Building in China

New York, July 18,-It Is learned from |
an authoritative source, says the jour
nal of Commerce, that tentative ar |
rangements have been made for placing |
the $40, 900, 900 in bonds which the Amer
Jean China Development company mas
decree of the Chinese government.
These bonds are for the purpose or COM
pleting the railroad between Hankow
adm Canton. 1t will be a matter OF sew
eral months before the bonds can De
engraved and ready for delivery, and
it is hardly considered probable 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 II
can not be learned whether the enLlre
issue of bonds will be taken in TINS
country or whether European subscrip-
lions will be invited. 1t is considered
probable, however. that the issue VIII
have an international character, as the
board of directors of the American
China Development company has for
eign members. The necessary funds
with which to begin the practical work
of building the first section OF the ROAD
were subscribed by the stockholders
| some months ago and were deposited
| with J. p. Morgan & Co.
| The new bonds are a gold issue bear
ing interest at the rate OF nve per cent
| A highly important feature OF the en-
| terprise is the large amount of sup
! plies which will be required. 1t mas
| been authoritativeIy 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 continuation of the Lu Han
| Hankow. which has APPLY been descrio-
| ed as 1.-THE Chicago Of China" Al
| though divided from the adjoining town
| of Hanyang by the Han river and from
4 {a a
| province, by the waters of the Yangtse.
| Hankow constitutes. with its neighbor-
| ing cities, one great center or popuia-
| ton numbering considerably over 2,0oA-
| reached Hankow at distance of some
CSC 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 con-
struction, continuing the. road from
Hankow, or, more properly speaking,
from WI Chang, on the southern bank
| of the Yangtse southwark to Canton.
Connecting with the Lu Han line under
construction by Belgian syndicate,
and apparently having trlendy under
terprise, the American line will furnisii
the southern section of great trunk
road, extending from the capital to
sea.
i At Pekin connection will be made
with the Chinese Imperial railway. the
| northern arm of which joins with the
Manchurian branch of the Transberian
road from the neighborhood of New
Chwang Direct rail communication
will thus be provided between Canton
and the great capitals of Europe. The
provinces to be tranversed by the
American line have a population twice
. as great as that. of the United States
! and are rich, both in agricultural and
} in mineral Wealth The development OF
an important coal mining region in the
province of Human and other demands
of local traffic will require the construc-
: ton of branches which will bring tho
{ total length of line between Hankov
and Pekin up to about 200 miles. From
/ Canton it is intended to extend the line
. | TO a point on the mainland opposite thu
Hong Kong, a piece of construction ex
tending over 1870 miles, which an Eng
e fish syndicate understood to be read,
| 10 undertake.