The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1909-07-21
''OP[NDOOR' POLICY
IN CHINA ASSURED
American Capital to Participate
Equally in the Hankow
Railway Loan
Negotiations in Picking Are
Source of Much Gratifica-
ton at Washington

PEKING, July 20.-On account of the
failure OF the negotiations at the recent
meetings OF bankers in London and
Paris an attempt Is being made at Pc
king to close quickly the Hankow rail-
way loan by increasing the amount, so
as to give Americans equal participa-
ton and not reduce the original allot-
ment to the other three powers, Great
Britain. France and Germany.
This arrangement was agreed to by
the Chinese foreign board Saturday and
the four days negotiations ended with
the consultations of foreign bankers to-
day, when the -financiers telegraphed to
their principals recommending that the
above settlement be accepted. Chang
Chi Tung, the grand councillor, is not
yet committed to this plan. but all the
other Chinese officials view the ar
rangement favorably. At the American
legation the statement was made that
an early settlement of the loan difficult
ties was expected
Crane Visits Bankers
NEW YORK, July 20.-Information
from Picking today promising q settle
vorably to the United States was re-
ceived with qualification by Charles r.
Crane, recently appointed minister to
China, who Is now in New York.
Crane said this country was particu-
larly anxious to have equal participa-
ton in the loan because it represented
the first great public work under the
new policy of the Chinese government
favorable to foreign enterprise and I'M
T-,,t% to-
ward the eastern situation as laid down
by President Taft.
The precedent Is what we want to
establish" he said.
Crane expects to leave for his new
post about the first of October.
Crane was in the financial district
today and held conferences with repre-
sentatives of ]. p. Morgan & Co. and
Kuhn, Loeb & Co., who are interested
s27, 100000 Chinese railway loan.
Satisfaction at Washington
WASHINGTON. July 2o-American
participation in the loan of $27,500 900
about to be negotiated by the Chinese
government on the Hankow railway
and other enterprises will be arranged
to the entire satisfaction of the govern
ment, thus assuring the maintenance
of the open door in China
Assurances to this effect came to the
state department today from Picking
and gave great satisfaction.
Pressure has been brought to bear on
China to withstand the American de-
mands
The satisfactory adjustment of the
loan means the application of the open
door" in It's fullest aspect, a decided adj
vance in the policy inaugurated by the
late Secretary Hay and vigorously
pushed by former Secretary Root and
Secretary Knox.
The total loan contemplated by China
amounts to f5,500,000, which embraced
20 SOC, 900 for the Hankow Szechuen
portion of the road; 1880 900 for the
Human section, of the Hankow- Canton
line and 100000 for the redemption
of the bonds of the American China de-
veIopment company. China was told
that if agreeable the United States
would take one-quarter of the entire
amount. or f1.375.000. This country
actually has been promised one-half
of the f2.50O,O0O on the Hankow-Sze-
chuen portion, the American bank
ers will fare better than they expected.