New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-12
.ONE MAN OUTW|TS
SIX GREAT POWERS
Continued from first page.

lated to the repayment Of the loan and
the payment q interest.
But china. having now brought
Jackson 10 the point Of agfceing that
China should be absolutely unham-
pcrrd i'm the use and expenditure OF the
loan. without foreign supervision OF
any kind. no Anglo chinese bank and
no foreign supervision of government
finances. definitely broke of negotia-
tious with the six-powcr group.
Jackson represented himself as act
ing FOR a syndicate far more powerful
than the six power group and includ-
ing the identical countries interested In
the six power group.
\ final contract was signed on Au-
gust 80 in London leaving China abso-
luteIv free 10 dispose Of the loan. with
the only safeguard for the lenders the
right Of foreign governments to inter
venc and supervise the finances OF the
country ii interest is defaulted.
Jackson since that time has remained
in London trying 10 find some one to
put up the money. Several London
banks have already refused To consider
the proposition. He. however, is still
hopeful of raising S2,5O0,00o in that
city for the first payment. when he ex-
poets to come to America and get the
balance OF the SJ0,OOOoO on the
strength of his initial success here.
Knew OF Jackson's Plan.
From a man who has taken a prom
incnt part in the negotiations for a
loan 20 China by the six powers 1t was
learned last night that the bakers in
terestcd in the S300,OO0.O00 loan had
been fully appraised of Mr.. Jackson's
efforts 10 arrange an opposition loan
They did not believe. however, that the
Chinese government would give its ap-
proval TO the contract signed i'm London
ON August 80 between Mr.. Jackson and
the Chinese Minister to England.
The interest Of the bankers was
centered on the question whether the
Chinese government had given sulli-
cient powers to its representative 10
make the SOC, 100000 loan completed
transaction 1T the moment the contract
was signed. this fnancier said. Upon
that depended any action that might be
taken by the siX-poWer group, he
added, and until this point was cleared
no definite step would be taken.
There was considerable speculation
yesterday in banking circles as 10 the
financial hackers Of \. Wendell Jack.
son. The rumor which had been
spread that the Standard Oil crowd
was backing the opposition" scheme
was quickly discredited, on the strength
of the fact that the National CITY Bank
was one Of the institutions which. with
J. =. Morgan & Co. were interested in
the larger loan. All efforts to learn
anything about Jackson's banking con
ncctions y. owed futile. however. be
cause so very little is known about him
here.
a banker who has met Jackson IN
China said that he was an American
and a civil engineer. He came 10 Man
churia about 1907, apparently after an
earlier trip Of exploration, to develop
NcgiouS mining properties in which he
had become interested. Mr.. Jackson
remained there for year and "A half
and then went to Japan for short
time To engage there i'm the promoting
of mines.
He returned to China in 1909 to lool;
after his mines, and in 1910 he cam.
TO this country in an effort to interest
bankers in Eastern projects. Among
those whom he is said to have inter.
ested in his plans was Roswell Miller.
president Of the Chicago, Milwaukee, G.
ST. Paul : abroad. ..-
After several months Mr.. jackson
went back to China. and he was not
heard OF until recently. when he en-
tered into negotiations for the "oppo:
sition' loan. He is said 10 have ex-
eellent connections in China, and he is