New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-11
CONFER WITH Mr.. TAFT
NO DECISION REACHED.
Firanciers Shoe Interest an Philip
nine Railroads.

DiN6 HOtHOUuo.
william r. TAFT Secretary of War. spent the
greater part OF yesterday AZ the office Of Elihu
Root his predecessor in the War Department
comforting with a number Of financiers and en-
gineers as 20 the outlook for interesting capital
On the development Of the Philippine Islands
with special reference 20 the building OF sss-
ten Of railways. Among those who talked Win
the Secretary IN the course Of the morning con-
ference were Sir william c. Van Horne. chair
man of the board Of the Canadian Pacific Rail
way COMPANY and president of the Cuba Com
pauv and George r.. TurnbuIL second vice
president OF the Guaranty Trust Company OF
this city. An adjournment was taken for lunch
con Al little after O'Clock. the party, includ-
ing the Secretary and ex-Secretary Of War,
going 70 the Midday club
Secretary Taft when asked what progress had
been made answered:
The conference relates entirely 20 railroads
steam and electric. and we are talking over the
whole subject in regard 20 establishing them IN
the Philippines: what capital VIII be likely TO
DO and ali that. II is not expected that any
agreement viii be arrived at. the purpose being
20 get information that can be used In framing
the laws that win have to do with this kind OF
thing in the Philippines"
Arooug those who conferred with the Secretary
ST. the afternoon were George Peabody, Lindon
W Bates the well known engineer and contrac-
tor. Miner Green. a railroad builder; J. Gilbert
smith who is now building electric railways
IN Manila: Colonel Edwards. chief Of the Bureau
Of Tnsular Affairs at Washington; Z. II. Harri-
man. and James speyer and Charles II. Tweed
o. Speyer & CO.
Tho rerraseutatives Of the Speyer firm arrived
late if the afternoon and remained with the
Secretary FOR an hour and half The con-
ference broke up a. : o'clock the Secretary
leaving the building with his brother, Henry W.
Taft
We have not reached any conclusion" he
said. These gentlemen have been here at my
invitation 20 talk over the conditions which
nav attract capital TO the Philippines We want
70 get cauftal 20 60 over there and help develop
the islands"
What disposition DO the capitalists YOU have
seen show to accept your invitation" he was
asked:
We'll I must say" answered the Secretary,
laughing. they aren't biting quite as hard as
we would like 70 have it. STILL some OF them
have shown some interest"
The purpose Of the conference was 10 get
information 10 use in framing laws regarding
franchises"
Yes. Congress is considering giving the Phil
ivplne Commission further powers TO be used IN
bringing about the proper development Of the
islands. This information we have been getting
to-day is to be used in drafting bills that may
he put before Congress-.
Is the lberalty OF concession 10 he given
those who can be induced to invest capital In |
Philippine enterprises 10 he considered In this |
legislation"
Yes that has a great deal 10 DO with it."
rs there a disposition on the part Of the ad- /
ministration 10 limit these concessions. so as not
60 make them too liberal?"
Yes. / think there is a disposition 10 make
as good terms as can be got and stu bring
about the developments that are needed
Presumably the capitalists want TO get every
concession they can"
Yes. and IL Is idea TO get capital there
without giving up everything"
''To-days conference limited 10 the sub
sect Of railroads. Win you confer over other in
dustries later
No. this viii end the conferences. But Il IS J
not the intention 10 limit development IN the
Philippines To railroads. IL first the iuten-
ton to confer on steamship routes and lines.
but Il decided not 10 do this
When do you think Congress will pass a
bnl?"
Il can't say just when am 10 appear and
make my report 20 a committee day after to-
morrow. ] win go back 10 Washington az mid
night tonight"
The presence o. Sir William c. Van Horne AZ
the conference Was regarded in Wall Street as
indicating the bility that the cuba Corn
panY, Of which he is the head NAV undorte Ike
The TASK OF constructing the projected railway
system IN me Pniipplnes, the company having
carried through similar enterprfsa ir me leland
OF Cuba. The Cuba Company was orpa,ized
Hoout tour wears ago. and among its Commentators
were Sir William q. Van Horne y u Hartman
James j. Hin Thomas r. RYAN g q Haven ana
the late William c. Whitney