The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-12-17
EXPERTS PRAISE
BUSINESS ABILITY

NEW YORK. Dec. 17.-American
financiers who met and had dealings
with King Leopold-and the Belgian
monarch had negotiations with many
OF them In the last ten yesrs-invariab bly,
were impressed with his remarkable
business ability. IN fact, so astute n
banker as J. PieTpont Morgan, who has
had frequent dealings with the mon
arch. IS reported to have expressed the
opinion 20 his friends that the King Of
the Belgaus was the greatest business
nan he had ever met
Among the most notable negotiations
which the Belgian monarch had with
American fnanclers were those he con-
Quoted with Mr.. Morgan concerning the
famous Canton-Hankow Railroad con-
cession; with Thomas +. Ryan, regard
ing a trade agreement with an Ameri-
can company for rubber gathering in
the Congo. and with Thomas F. Walsh
a gold mine owner. Of Colorado, in
connection with their joint mining en-
terprises in the Congo Free State
Meets the King.
Mr.. Walsh first made the acquaintance
Of King Leopold while he was touring
Europe with his family IN the summer
OF 1899. The monarch had learned
of the Western mans success In min
ing enterprises and invited him 10 visit
him In his villa at Ostend. II was IN
the following year that the mine owner
became associated with the King IN ex-
plotting the mining possibilities OF the
Congo and other regions IN Africa
King Leopold has always favored
American men Of business, and has
made It a point to praise American
methods and American ability. II is
not surprising then that warm
friendship arose between MI WASH
and the monarch. The mine owner, on
his return TO this country. a year or so
later. explained the negotiations BY
saying that King Leopold. who had
many ore experts working IN africa,
had instructed them 70 submit their
ores and their results and data 70 him.
King Leopold ne said, then invited
me to examine into the mining posi-
bnities of those sections IN which ne is
interested" Mr.. Walsh added:-''K King
Leopold is more Ike an American than
any man / met abroad. and be has
great liking for business"
The negotiations then began, resulted
IN the Identification Of Mr.. Walsh
jointly with the monarch in various
| large mining deals in Africa, which
have resulted successfully.
Visits ]. P. Morgan
king Leopold's negotiations with J.
/ Pierpont Morgan In 1906, caused at the
start a great amount of international
comment and much speculation was
rife concerning their purport When
I Mr.. Morgan was in England, the mon
arch went 10 Dover from Ostend 10
| visit Mr.. Morgan. and the latter had
luncheon with King Leopold aboard
the latters yacht.
The purpose Of these interviews was
a change which had arisen in the af-
/ fairs Of the American China Develop
ment Company. which had the Can
| on-Hankow Railroad concession. The
banking house Of J. 2. Morgan & Co.
was the largest stockholder IN this
l company. IN which King Leopold was
also a heavy shareholder.
! Developments I'm China. at the time
/ were such that the American and other
! foreign COnCessiOunairies were under
{ the Impression that II was tho object
! Of the Chinese goEernment 70 force
I them out Of the country. The Belgian
/ stockholders. and especially King Leo
pold. were anxious 20 hold on 20 the
| concession for national reasons, and the
monarch tried 20 get Mr.. Morgan 70
/ adopt a similar view
Bankers Seek Advice.
The American bankers. however. first
sought the advice Of President Roose-
! Welt. who expressed the belief that It
would be better for the company TO
| come 10 an agreement wit the Chinese
/ government The latter offered the
| American China Development Company
/ ST. e01p0 for the return Of the concession,
! and after = meeting Of the company 8
directors the offer was accepted. King
/ Leopold and his Belgian associates were
| represented at the meeting
/ The latest dealings that any American