Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-08
CHINAROADC CONCESSION
PROPOSAL FOR ITS PURCHASE
FROM AMERICAN SYNDICATE.

]. Pierpont Morgan of New York had
conference at Oyster Bay yesterday with
President Roosevelt. lasting an hour and
half The President himself is author
ity for the statement that it related ale
most entirely to the affairs Of the Ham
kow railroad. in China. a controlling in
terest In which is owned by j. p. Morgan
& Co. Incidentally, and as relating in
measure to the railroad interests held by
Americans in China. the pending peace
negotiations. formed topic of considera-
ton by the President and Mr.. Morgan.
Mr.. Morgan came to Oyster Bay I'M
heralded. While his visit was by ap-
pointment, nothing concerning it was
permitted to leak through official sources
until after he had gone.
China Wants the Road.
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 cabi-
net and considered thoroughly An effort
IS being made by the Chinese government
to purchase the concession from the
American-China Development Company.
which owns the railroad, and the con-
tributary concessions. The railroad now
is in operation between Hankow and
Canton. distance of only about thirty
miles, but the company. which is abso-
lutely controlled by American capitalists
owns concessions, and has made surveys
for several hundred miles of railroad
lines.
proposition has been made by the
Chinese government to the American
China Development Company to purchase
the Hankow railroad and the extension
concessions. 1t is understood that the
price offered is about S7.000.000 Some
of Il IL
inclined to accept the proposal. but the
European holders. who have minority
of the stock. insist, they claim in the
interest of various foreign countries, that
the road and its concessions be not sold,.
but that they remain in control of the
Americans
Argument Against Sale.
In behalf of the latter it is argued
that a railroad in the heart of China
operated by responsible and aggressive
American business men in connection
with 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 Bel
GUM, who owns some of the stock, takes
this view of the situation. and is vigor-
ously opposed to yielding to the propo-
sition of the Chinese government.
meeting of the board of directors of
the Americana China Development Com
pany is to be held in Jersey City on the
10Th instant. and it is expected that at
that time determination will be reached
as to the acceptance of China's offer
No details of the conclusions reached
at the conference between the President
and Mr.. Morgan are obtainable.
No information was obtainable either
a to whether they considered the peace
negotiations in relation to the ttotation
of a Russian loan in this country, in case
the ENJOYS should reach an agreement
which should render 1t necessary for
Russia to raise a considerable sum Of
:1Oney.
Mr.. Morgan, at the conclusion Of the
conference. was conveyed in a carriage
to his launch and went Immediately to
the Corsair, which sailed about o'clock.