The Birmingham age-herald., 1905-08-08
MORGAN POWWOWS
 WITH ROOSEVELT Financier Talks Abour the
 Hankow Railroad WENT DOWN UNHERAL DE0 No Statement Is Given Out Regarding the Conclusions Reached--Mr. Nor
 gan Made the Trip on
 His Yacht.
WENT DOWN sUNHERAL DE0

Oyster Bay, N. r., August 7-President Roosevelt and J. P. Morgan today held a conference lasting an hour and half. The President himself Is authority for the statement that it related practically en- tirely to the case of the Hankow railroad in China, controlling interest in which is owned by J. P. Morgan X Co. The pending peace negotiations also formed a topic of consideration by the President and MT. Morgan.
 MT. Morgan came to Oyster Bay un- heraIded. While his visit was by ap- pointment. nothing concerning it was permitted to leak through official sources until after he had gone.
 MT. Morgan came to Oyster Bay in his yacht Corsair, One of the Presidents s carriages was In waiting for him. and he was driven directly to Sagamore Hill, ar irving there about o'clock. He remained for luncheon with the President and Mrs. Roosevelt and for some time after. It Is remarked that MT. Morgan's visit and that of Secretary Shaw little earlier Is little more than coincidence. Secretary Shaw and MT. Morgan did not meet and the purpose of their visits were en- tirely different.
 The President and MT Morgan discuss ed fully the Hankow railroad conditions. Several months ago the same question was taken up by the President and his cabinet and considered thoroughly. An effort has been made by the Chinese gov ernment to purchase the concession from the American China Development com x..l,t t1, rat a contributary concessions.
 Discuss Hankow Railroad.
 The railroad now Is in operation be- tween Hankow and Canton, a distance of only about thirty miles, but the company which Is absolutely controlled by Ameri- can capitalists, owns concessions and has made surveys for several hundred miles of railroad lines
 A propositions has been made by the Chinese government to the Amerlsan-C China Development company to purchase the Hankow railroad and the extension of concessions It Is understood that the price offered Is about s7,0o0,0Oo. Some Of the American holders of the stock are in- clined to accept the proposal but the Eu- ropean holders, who have a minority of the stock, insist, as they claim In the interest of various foreign countries, that the railroad and its concessions be not sold, but that they remain in control of the Americans.
 Would Be of Great Advantage.
 In behalf of the latter 1t is argued that railroad In the heart of China operated by responsible and aggressive 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 all the civilized world generally. It Is said that King Edward of Belgium, who owns some of the stock, takes this view of the situation and is vigorously oppos- ed to yielding to the proposition of the Chinese government. A meeting of the board of directors of the American China Development company is to be held in Jersey City on the 29th instant, and 1t is expected that at that time determina- ton would be reached as to the accept ance of China's offer.
 No details of the conclusions reached at the conference between the President and MT. Morgan are obtainable.
 No information was obtainable either as to whether they considered the peace ne- eotiations in relation to the flotation of Russian loan in this country in case the enyoys should reach an agreement which should render 1t necessary for Russia to raise a considerable sum of money.
 Mir Morgan at the conclusion or the conference was conveyed In a carriage to his launch and went immediately to the Corsair, which sailed about o'clock.