The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1909-08-17

NEW 1ORh, July Zb.-l nat partner
of j. p. Morgan & Co.. who was most
recently admitted to membership, H.
p. Dawson, has been able to make sew
eral public demonstrations although
not intended to be public, of abilities
which justified Mr. Morgan in calling
this young and somewhat briefly train
ed man of finance into association with
him and his partners.
A few days ago Mr.. Dawson nego-
tiated for land at Wall and Nassau
streets, once occupied by the Jonathan
Edwards Church. for one of the trust
institutions of New York.
That trust company is to erect
cloud-touching Office building, match
ing in the magnitude of it's architecture
the site of this trust institutions cap
ital and resources. These have al
ready been increased to approximately
$4,000, 900, and in that skillful finan-
cling Mr. Dawson had considerable
share.
Some of his associate partners are
now on the way to Alaska, contem-
plating heavy financing there, others
are in Paris, still hoping that the poll
tical and commercial antagonism to
the placing of Steel common stock up
on the Paris Bourse may be overcome
and others are negotiating with lead
ing bankers of Germany, Frnce and
England for participation on the part
INr 70 Ia, hn
China is soon to make.
In the financial section a recent
impromptu gathering around the
luncheon table of which Mr.. Dawson
was the host has been even more dis
cussed and discussed with increasing
animation as the days have passed,
than have the conference discussions Of
Washington over the tariff. For it is
this informal gathering reflects the
cooperating purpose of great capital
in the United States and of the Ad-
ministration at Washington not mercy
| to participate in the industrial and
commercial awakening of China, but
to insure the sovereign integrity of
that empire, and the maintaining of
the open door.
| CAPITALISTS WILL COOPERATE.
We have had several intimations re-
Gently most of them private and con-
fdential that the Administration at
Washington looks forward eXpectant-
| 1,y 10 nrlD nf
relations with China. And there is
perfect cooperation with the more inn
portant of the American groups of
capital 1t has been intimated to Sec
rotary Knox that if the Federal Gov
eminent will make use of it's influence
with China, so that the United States
may stand upon equal footing, then all
the capital that is asked for will be
| furnished.
1t is impossible not to infer that the
informal meeting with Mr. Dawson as
host and Mr.. Crane as the guest OF
honor a day or two ago does reflect
preliminary preparations for the float
ing i'm the United States of some por-
an equable portion of any future loans
China may make. And it is also sus
pected that the Administration al
Washington will intimate through Min
J lister Crane to China that in order t.
secure the best relations with the Unit
ed States there should be some chang
in the taxation methods adopted b!
China, and there must be also pledg
that whatever money is Furnished
Y through the sale to the United States o
Chinese obligations, is to be expended
in the railway, or other public WORKS
r which China now contemplates.
THREE GROUPS OF CAPITALISTS.
1t has sometimes been said that grea
capital in New York city, in allianc
with great capital in Boston, Chicag
and Philadelphia, may properly be di
vided into three groups. One of thes
is the socalled Morgan group, anothe
that which is identified by the associa
: ton of the National City Bank with /
! and the third is what is now called tn
Hartman group.
While distinction of this kind wa
: accurate enough a few years ago, it
no longer an accurate classification
: The various capital groups are worE
ing in cooperation as never before.
They are behind the contemplate
- Pan-American Bank. Representative
of these co-called groups at the invite
ton of Mr.. Dawson were able to me'
?, Mr.. Crane at this informal gatherin
around the luncheon table and to COZ
graduate him, and themselves as wei
= upon President Taft's selection of hi
- as our new Minister to China
OF course, what was then said W;
confidential, and yet no more so tina
the courtesies of luncheon table con
pei The understanding is that II
conversation was general and that M
Crane did no more than to express h