The Washington times., 1906-12-26
MORGAN'S REVENGE
IN CONGO AFFAIR
Flnancier GraspS Chance TO
Pay Leopold for
Slight.
SIGNS MEMORIAL TO ROOT
Trouble Arises Over Concessions to
China Against Wishes of
Belgian King.

NEW YORK. Dec 26.-I. Pierpont
Morgan Is after the business scalp OF
King Leopold OF Belgium. The king OF
Wall Street was today revealed IN his
new role of Nemesis through his sign
ing of a memorial addressed TO Secre-
tary of State Root urging the United
states Government to take some action
in the Congo, This action of Morgan
is regarded as publicly announcing his
break with Leopold. with whom he was
until eighteen months ago on the best
OF terms.
Morgan. it is stated, was frozen out
or the good thing" in the Congo con-
cession by King Leopold, and the plum
handed to Morgans financial enemy.
Thomas f Ryan, in retaliation for
Morgan's selling out the Hankow-Can-
ton railroad concession in China. in
which both he and King Leopold We're
interested. over the protest Of the lat
ter. The effort TO have the United
States interfere in Congo affairs is re
garded as MoFgans revenge
Morgan Signs Memorial
Morgan-s signature To the memorial
appears modestly away down the list
among a score OF prominent clergymen,
il yesterday X recjtes at length the
report of the commission which investi-
gated conditions in the Congo and
found many evils existing there IL is
stated that there is no evidence that the
Congo government is trying honestly 70
remedy conditions. and the point Is
made that any OF the powers which
joined IN establishing the Congo govern
mtnt has a right 20 call IL 10 account.
The United States as one of these pow
ers IS urged to act.
Once Close Friends.
Before the break between King Leo
pold and Morgan occurred they were
close friends and partners in many
financial transactions. Morgan was re-
garded in Wall Street as the financial
agent of Leopold in the United States.
The concession 10 build the Hankow-
Canton railroad extending $40 miles IN
China. in which Morgan held a con-
trolling interest and King Leopold was
a large investor, was given up 10 the
Chinese government in August. lSO5, by
Morgan syndicate, which received
81. 10000. King Leopold was very much
opposed to the deal The Chinese gov
eTnment forced the surrender of the
concession. King Leopold thought the
United States Government sought TO en-
force the claim of the American in
Vestors
When IL was found that Leopold want
ed to interest an American capitalist
In the Congo. believing this would tend
to head OF criticism Of his management
II was expected in Wall Street that
Morgan would be the American IA
Vored.
Morgan's Overthrow.
In July OF last year. Morgan and
King Leopold had q conference Nor
gan was reported 10 have promised 10
take the Congo matter under considera-
ton. A month later the HankOw-Can-
ton concession was returned. Then
came Morgan's overthrow
Wall Street knew OF the coIdness he
tween Morgan and his former Belgian
ally last summer. In previous years
Morgan has never visited Europe with
out seeing King Leopold. on his last
trip abroad Leopold was not on his
calling list, 1t is now recalled, too,
IhaI on the day Morgan reached Paris,
King Leopold, who was visiting there,
left
Morgan's chance TO get revenge for
the lost Congo change has come in the
agitation now in progress throughout
the world against LeOpold's rule in the
congo, BY siding with the agitators il
Is believed he has added impetus to the
movement demanding change in Con-
~ "a d Ia 4fgsas