Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1905-08-11
MORGAN AT.
OYSTERBAY
Great Financier Talks Over the Han.
kow Railroad Concession in China
With the President.
PROPERTY MAY BE DISPOSED OF
Chinese Government is Anxious to
Buy Out the Americans-Other
Topics Are Discussed.

oyster Bay, Aug. 1O.-J. Pierpont
Morgan, of New York, had a confer.
ence today with President Roosevelt,
lasting an hour and half. The
president himself is authority for
the statement that it related practice
ally entirely to the case of the Han
kow railroad in China, controlling
interest in which is owned by J. p.
Morgan & Co. Incidentally, and as
interests held by Americans in Chi
ma, the pending peace negotiations
formed topic of conversation by
the president and Mr.. Morgan.
Mr.. Morgan came to oyster Bay
unheralded. While his visit was by
appointment nothing concerning il
was permitted to leak through Off
cial sources until after he was gone.
Shortly after noon Mr.. Morgan's
big steam yacht Corsair anchored in
the lower bay, about three-quarters
of mile from the Corinthian yacht
club on Center island. When OBJ
served from the shore she was fly
ing the absent flag, indicating ordi-
narily that her owner was not aboard.
Nevertheless, he was there and in a
few minutes entered steam launch
and was taken ashore. One of the
presidents carriages was in waiting
for him. He remained for luncheon
with the president and Mrs. RoOse'
welt, and for some time afterward.
The suggestion was made that MI
Morgans visit and that of Secretary
Shaw a little earlier might be more
than a coincidence, but it can be sale
authoritatively that they had no rela
ton whatever. Secretary Shaw ant
Mr.. Morgan did not meet and the
purposes of their visits were entire
ly different
The president and Mr.. Morgan dis
cussed fully the Hankow railroad
concession. This was not the frs
time the subject had been considered
by the president. Several months
ago the question was taken up b,
tue DISSluclll anu HIS SttDiiCt anu wa
sidered thoroughly.
An effort is being made by thu
Chinese government to purchase thu
concession from the American Chin;
Development Co.. which owns tn
concession. The railroad is now IL
operation between Hankow and Car
ton, distance of about 80 miles only
but the company, which is absolute
ly controlled by American capita
owns concessions, and has made SUI
veys for several hundred miles o
railroad lines.
A proposition has been made by tn
Chinese government to the American
China Development Co. to purchas
the Hankow railroad and the eXter
sion concessions. 1t is UNDERSTOOD
that the purchase price is about 81
100000. Some of the American hole
ers of the stock are inclined to az
cept the proposal, but the Europea
holders, who have a minor interes
in the stock, insist, as they claim, i
the interest of various foreign cour
tries, that the road and it's conce
sions be not sold, but that they RI
main in control of the Americans.
Opposed to Selling.
In behalf of the latter it is argue
that railroad in the heart of Chin;
operated by responsible and aggre
sive American business methods,
connection with the American steam
ship lines would be of enormous a.
vantage. not only to the America
producers of all kinds, but to thos
of the civilized world generally.
1t is said that King Leopold, of Be
GUM, who owns some of the stoc
takes this view of the situation, an
is vigorously opposed to yielding to tt
proposition of the Chinese govern
ment.
A meeting of the board of director
of the American China Developmel
Co. is to be held in Jersey City G
the 10Th and it is expected that ;
that time a determination will b
reached as to the acceptance of Oh
mas offer.
No details of the conclusion reache
at the conference between the pres
dent and Mr.. Morgan are Obtainabl
No information was Obtainable ;
to whether they considered the peat
negotiations in relation to the flot
ton of Russian loan in this cou
try, in case the ENJOYS should reat
an agreement which should render
necessary for Russia to raise CO
siderable sum of money.
Mr.. Morgan, at the conclusion
the conference. went Immediately
the Corsair, which sailed about
o'clock.