New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-13
JACKSON LONG KNOWN
HERE AS A PROMOTER
No Local Scheme Of Man of
$4,000, 900 Chinese Loan.
However. a Success.
BELIEVED TO BE A DUMMY
Keynote of Other Theory Is
Skepticism of Ability of
American to Garry Out
His Big Contract,

\. Wendell Jackson. the American who
mas signed contract in London to loan
TO the Chinese government t5OC0,OoO with |
out any Of the restricting conditions de-
manded by the siXpower group for its
loan OF s30o 00O0Jo, has been known in this !
city as promoter of various enterprises
for more than fifteen years. None OF
Mr.. Jackson's local efforts developed. |
however. into anything beyond an opti-
mistic start
The man who, single handed. has put
considerable difficulties into the path OF
the most powerful Gnanciers of the world
came to New York from California, and
the first traceable record OF his promoting
energies leads back to 1892 when he pro-
NOTED oil stocks from an Office at No. "A
Broadway.
The oil wells that had attracted Mr..
Jackson's attention failed TO flow as rich
" as he expected. and in 1873 he went
into the brass goods manufacturing bust
ness at No. 52S West sd street. lie did
not remain long in this line OF endeavor,
and soon returned to promoting.
Mr.. Jackson became associated In 1871
or 1850 with Charles u. Pullen, u broker.
OF No. stone street. and from that office
he promoted the Atlantic Engineering
Company which, il was said. never de-
veloped far beyond the earliest stage Of
existence. IL seems the enterprise was
dropped in 1901, and AIr. Jackson left New
York, turning toward the more promising
| West and Far East.
Made Deal in Port Arthur.
His first known enterprise in Asia was
a mining concession near Port Arthur.
which he obtained with several Russians.
He succeeded in attracting American cap
/ itsl 10 the scheme. but II did not prove
successful.
After this in $780, Mr.. jackson promoted
! "old mines in Manchuria. taking with
him to that country man VINO
was said 10 BE- a University OF California
professor OF mncrslosy. ana short
, time later he went 10 Japan 10 look over
the field foT Investments in that country.
| He was negotiating with the Japanese
government for concession foT water
power near Toxic. with which he was
! going 70 furnish that city with electric
/ light and power. but 4 Dutch syndicate
! instead succeeded in getting the conces-
! Slpll. IdI. JACKSON lNtD lelsIleu 10 'liliia
and 70 his Manchurian mines.
Two theories concerning the 100000
loan were advanced yesterday b; mcn
Who have come IN contact with Jackson
and who have had opportunities TO OBJ
serve conditions In China
| 4 man who has represented American
, business interests Ina China many years
SAID that % hts mind. there could be
only one explanation o. The JACK Top
position" loan. END tfat was scheme n
the part Of some OF che powers, presume
/ by Russia and JapaN. 20 freeze out ;he
banking Interests OF tho four other pow
ers from participating ~ any advance
nent OF money 20 China. A. W. Jackson
was simply u dummy. this man said. Sc
lected because hc Was an American and
was therefore H. q better position 10 keep
secret the financial interests that We're
behind him.
~. added tnat any large loan made 20
the Chinese government without re-
stricting clause providing for super
vision over the expenditure OF the money
loaned would mean 4 wasting OF the sum
advanced In graft among the high DIN
cials. Nothing would be accomplished
on the interest would be absolutely Ger
tain.
On the slightest pretext the govern
meuts behind the Jackson loan would tneu
OCCUPY some Chinese territory. on TIE
ground that their Interests needed protcc-
ton. and then they would hold the terri
tcrv as security for their share OF tie
loan. finally appropriatinS II entirely. az
the Chinese government would be unable
10 repav a loan that had been entirely
dissipa,ed il graft
H. his many years Of experience u
China. this man went on 10 say, he had
learned that no promote who mad
achieved any kind OF success III the
Celestial country could have done IT with
on, securing the favor Of the Chinese Of
hcials. who we're out for graft. There was
no doubt. ne added, that American, Brit
ish. French and German banking interests
would refuse 10 consider any proposition
Ike that advanced by Jackson.
Skepticism as 10 Mr.. JachsonS success
in carrying OUT his contract vas the Key
note OF the other theory This seemed to
be tho view accepted by some OF tne
American Bankers who have been inter
csied in the negotiations looking toSard
the slx-power S3OOO00.000 loan.
Il was pointed out that Baron C0ttn
tried a scheme similar 10 that OF Nj.
Jsctso, a year ago and failed. He had
brought from China a contract for loan
of $50, OoO. OCO, and was confident that ne
could finance IL IN Paris. Nj his efforts
nroved futile. however, as the Pari5
Rour;e declined 10 admit II TO its official
list without which 1t was idle 70 attempt
10 interest French investors and banks IN
the uropositlon. on the strength OF Tho
analogy OF tho situation ana the fact that
Air. Jac!son appeared unable 10 raise 3d.
500 oo0 IN London. these bankers predicted
that nothing would come cf the $4,000
900 loan.
certain degree Of skcp,icism as to
Mr.. .JscEson's ability 70 carry out the
contract Is believed TO be entertained by
the Chinese officials from the fact that the
Chinese government held on to the option
/, secured In March from The slX-power
sroup TO have them furnish the loan. No
step indicating any intention whatever 70
cancel this option has been taken az yet !
pekins. Sept. 12.-1t il generally be-
lieved in financial circles here that The
independert loan 10 China OF $4,000. 900 /
recently negotiated in London by the rep
,esentatIye Of I.loyds Bank and the Chi 4,
nese Minister there. like several OF itf