Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-20
AMERICA GETS
BIG SLICE OF
CHINA'S LOAN
NEW YORK BANKING INTERESTS
WIN FIGHT TO AID IN FL
HANGING RAILROAD.
FLETCHER CLOSES THE DEAL.
British, French and German Bankers
Will Get Other Three-quarters of
Big Bond Issue.
FLETCHER CLOSES THE DEAL.
S INCREASED TO $3o,0oo,ooo.

PEKIN, Aug. 17.-American partici-
patton in the Hankow- Sze-C huen rail-
road loan was definitely settled at the
offices of the foreign board this morning
by Henry p. Fletcher, the American
charge d'affaires, and Liam Tun-Yen,
president of the board. The loan is to
be increased from $27, 100000 to $780,
100000, and of this latter amount Amer
lean bankers are to get one-quarter, the
other three-quarters going to British,
French and German interests
Americans are to have equal oppor-
tunity to supply material for both the
Sze-Chuen and the Canton lines and
heir branches; they will appoint subor-
innate engineers and they Wlll nav nave e,, one
half of all future loans of the Sze-Chuen
railroad and its branches, with the cor
responding advantages.
Details Arranged Later.
The details of this settlement will be
arranged after the arrival here at the
end of this week of Willard ID. Straight,
the representative Of the American
fnanciers interested, whereupOn the pro-
test lodged by Mr.. Fletcher against the
completion of the loan with British,
French and German interests alone will
be withdrawn and an edict issued author
zing the signature of the undertaking.
L
sively settled.
Raises American Capital.
The settlement reached prevents ac-
tual American investment in the aban-
doned Nankow-Canton line, but never
theless, it is the opinion here that Amer
can capital has been placed on an equal
ity with other capital in China.
Washington Is Happy
WASHINGTON, d. c., Aug. IT.
The news from Pekin that America
way loan, was received here with intense
satisfaction.
The final settlement of the issue, pend
ing so long, is a victory for the state
department, which all along has de-
clared it to be an undeniable right that
American capital should share in the
financing of the SEE Chuen and other
railroads as a promise to that effect was
made to Minister COnger back in 1904
The government has been simply stand
ing up for its rights and the results of
its protest against being excluded from
The original arrangement show that the
Chinese government realizes that this
right should be upheld.
The state department has fought sue
cessfully the alignment of the European
group which sought to exclude it from
American participation. Its victory, the
state department officials say, augurs
well for the future, as the dispatches
from Pekin indicate that American cap
ital will be placed on an equality with
foreign money in the great Chinese en-
pire.
Is Matter of Principle.
State department officials declare il
was not the mere amount of money in
volved in the proposed loan that was al
stake. 1t was a matter OF principle
The question is a broad one and the set.
Element arrived at in Pekin today indi-
Gates that the products of American in,
dustries will be used in the construction
of the road and American engineers will
assist in its supervision. The result is
but another step in the cunsummation
of the policy of the "open door" IN China
so heartily insisted on by the American
state department