Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-03-11
Secretary of War Taft Confers
With Financiers Regarding
the Philippines
START ERA OF DEVELOPMENT
The Subject of Railroad Building and
Other Enterprises Gone Over With a
View to Interesting Capital in the
Advantages Offered for Trading
Congress May Act.

New York. March 11.-Conference'
Elihu Root, the former secretary o
war. between William II. Taft, the
present secretary of war, and number
| of financiers and railroad men. There
were two conferences, one in the fore
the afternoon session men very promi-
nent in local financial affairs Wer+
present. including James Speyer and
E. II. Hartman, and Sir William
Howe. of the Canadian Pacific.
The afternoon conference was pro-
longed and adjournment was not tax
en- until late. The conferences were
held in the library of Mr. Roots offices
an onlooker and not as adviser to Mr..
Taft, nor did he take part in the con-
ference.
After the noon adjournment Mr..
Taft said that the forenoon session
had been occupied in a general discus
sion of the conditions in the Philip
pine islands, and Of the laws and rules
that would be necessary in the case of
railroad and electrical corporations.
This question of railroad and electrical
franchises was the only one d1scussesi,
Mr. Taft said, and the same question
was taken up at the afternoon session.
The idea Of the conference is to OBJ
tain information as to the attitude OF
those likely to invest capital In rail-
roads in the Philippines, and part1c-
ularly as to the power of the COM
mission to grant franchises and the
best way of comforting 1t in law Of
congress are important features of the
discussion.
In speaking of the object OF the con-
ference, Secretary Taft said:
These gentlemen have been here
at my invitation to talk over the con-
ditions which may attract capital to
the Philippines. We want to get cap
ital over there to help develop the
islands"
Asked what was the disposition of
the capitalists he had seen, the secre-
tary laughingly replied:
We'll. must say, they are not biting
quite as hard as we would like. Still.
some of them have displayed interest.
.vrhe information we have been get
ting today Is to be used in drafting
the bills that may be put before con-
gress.'
Asked IL the matter of liberality ct
would be considered in con-
nection with the proposed legislation,
he replied that this would have great
deal to do with it. but added that there
was, OF course, disposition on the
part Of the administration to make as
good terms as could be obtained. There
was actually no desire to make the con-
cessions too liberal. TT is our idea.
said he, Ito get capital to the Philip
pines without giving up everything
while the conference was limited
to the subject of railroads" said the
1t is not the intention to
limit development in the Philippines to
these industries. 1t was first the In
tention to confer on steamship routes
and lines, too, but it was decided not
10 do this today"
Mr.. Taft, who left for Washington
asst night, said he would make report
On the subject to a congressional COM
nittee Saturday.
Colonel Clarence r. Edwards. chief
If the insular bureau, of the United
States war department, accompanies
he secretary of war. The insular
bureau is sort of a clearing house
or the inland possessions, with espec-
al reference to the Philippines. There
$ now some talk of adding Panama.