Omaha daily bee., 1905-08-08
MORGAN VISITS OYSTER BAY
FinanCisr Spends an Hour and Half with
President Roosevelt.
HANKow RAILROAD UNDER DISCUSSION
Chinese Government Desires 60 Pur.
chase the Line which IL Com
trOlIed by American
Capitalists.

OYSTER BAY, N. Y, Aug. III Pier
pont Morgan had a conference today with
President Roosevelt lasting an hour and
half. The president himself is author
ity for the statement that It related prac-
tically entirely to the case of the Hankow
railroad of China, a controlling interest
in which is owned by J. p. Morgan &
Co.
incidentally and as relating in meas
ure to the railroad interests held by Amer
leans in China, the pending peace negotia-
tions formed a topic OF conversation by
the president and Mr. Morgan.
Mr.. Morgan came TO oyster Bay unher-
aided. While his visit was by appoint
ment nothing concerning It was permitted
to leak through official sources until after
he had gone Shortly after noon Mr. Nor
gan's big steam yacht Corsair anchored
in the lower bay, about three-quarters of
mile from the dock of the Seawanhaka-
Corinthian Yacht club When observed
from the shore II was flying the absent
flag, indicating ordinarily that it's owner
was not aboard Nevertheless, he was
there and in a few minutes entered a
steam launch and was taken ashore. One
Of the presidents carriages was in wait
ing for him. He was driven directly to
Sycamore Hill, arriving there about
O'Clock.
Takes Luncheon with President.
He remained for luncheon with President
and Mrs. Roosevelt and for some time
after The suggestion was made that Mr..
Morgan's visit and that of Secretary Shaw
little earlier might be more than coin
cidence but it can be said authoritatively
that they had no relation at all with each
other. Secretary Shaw and Mr.. Morgan
did not meet and the purpose Of their visits
were entirely different.
The president and Mr. Morgan discussed
fully the Hankow railroad concession. This
was not the first time the subject had been
considered by the president. Several months
ago the question was taken up by the
president and his cabinet and considered
thoroughly. An effort is being made by
the Chinese government to purchase the
concession from the American China De-
velopment company, which owns the rail-
road and the contributary concessions. The
railroad now is in operation between Han
kow and Canton, a distance of only about
thirty miles, but the company which is
| absolutely controlled by American capt
| talists, owns concessions and has made
surveys for several hundred miles of rail-
| road lines.
China Wants to Buy Road.
A proposition has been made by the Chi
nese government to the American-China
Development company to purchase the Han
| kow railroad and the extension concessions.
| 1t is understood that the price offered is
about 100000. Some of the American
| holders of the stock are inclined to accept
| the proposal but the European holders
| who have a minority of the stock insist
| that the road and it's Concessions be not
sold, but that they remain in control of
the Americans. In behalt of the latter it
| is argued that railroad in the heart of
! China operated by responsible and aggres-
sive American business men, in connection
| with the American steamship lines, would
be of enormous advantage not only to the
| American producers of all kinds. but to
those of the civilized world generally 1t
is said that King Leopold of Belgium who
owns some of the stock takes this view
| of the situation and is opposed to yielding
! to the proposition of the Chinese govern
| ment meeting of the board of direc-
| tors of the American-CnIna Development
| company is to be held in Jersey City on
| the 29th inst, and 1t is expected that at
| that time a determination will be reached
as to the acceptance or China's offer.
No details of the conclusions reached at
| the conference between the president and
Mr.. Morgan are obtainable.
| No information was optafnable as to
| whether they considered peace negotiations
in relation TO the flotation Of Russian loan
in this country, In case the ENJOYS should
reach an agreement which should render
it necessary for Russia to raise consider
able sum OF money.
Mr.. Morgan at the conclusion of the con-
ference went Immediately to the Corsair,
which sailed about O'Clock.
Baron Kaneko, the Japanese financial eX-
pert, visited Sycamore Hill late this after
noon by appointment for conference with
the president. The precise nature of his
Emission is not disclosed, neither he nor
the president caring TO discuss 1t except
ing in general and negative terms Assur-
ance was given, both by the president and
Baron Kanel1o, that the visit had nothing
to do with the pending peace negotiations
or with the raising of money by loan
for either Japan or Russia.