The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-05-27

of very high courtesy and politeness
and they must know how to possess
their soul in patience.
Banks i'm South America.
Another factor of the problem is one
which involves the establishment of
banking institutions controlled by Uni
ted States capital in the more i'm
portant South American cities. The
late William r. Grace, who esta blish-
ed the leading American house which
has commercial relations with South
America, a house which now operates
large fleet of steamers between this
country and South America, used tc
say that our business with South
America would be very greatly facili
tated If there were established in the
larger cities banks controlled by Uni
ted States capital. These would facili-
tate the buying of foreign exchange
They would steady prices of exchange
They would furnish commercial accom-
modations to the merchants and to the
farmers of South America
presumably it is with intent to
learn where and how American bank
ing facilities may best be established
in South America that Mr. Shuster is
about to spend at least a year on that
continent as a representative of the
National City bank. Presumably also.
the certainty of the opening of the
Panama canal to navigation in about
that the canal will carry a very great
european commerce, as well as that
of the United States, have had some
thing to do with the departure of Mr..
Shuster upon this highly important
business.
All Over the World
Mr.Shuster's business in South Amer
lea is in line with the great advances
which American capital has been
making in all parts of the world. In
this sense we have become a real
world power. This morning ipforna-
ton was received on very high auth
GRITTY that Willard Dickerman Straight
has received within the past four or
five months several offers from lead
ing banking interests. both national
one of them he would be sure of not
only a large yearly income, but in
addition, in case he were to associate
himself with private bankers, of TAX
ing his proportionate share in the
profits. He has not as yet accepted
any of these offers for he regards the
work which he is now doing in China
as an obligation which must be kept
until the work is finished. Although
only thirty-tWo years of age he is now
the representative in China for what
is called the American group. That
is a syndicate of financierS of this
country who are prepared to invest
many millions in China both in the
in agricultural Industrial and mineral
undertakings. This group represents
financial cooperation between the
private banking houses of ]. P. Nor
gan & Co. and Kuhn, Loeb & Co.. to-
gether with the First National bank
and the National City bank. This is
the group which is to receive the
American participation in the great
loan to China which is now under
consideration.
Within the newt fxuo will
probably be made known that many
millions of American capital have
been invested both in national and in
corporation undertakings of an in
dustrial nature in Russia. This is ex-
elusive of the great industry already
established there by the International
Harvester company and by one of the
American electric companies.
Vice President Kilborne of the Ma
tional City bank is now in Russia for
the purpose of careful investigation
into certain propositions which have
been made by Russia This may mean
that within the course of a year or SO
the National City bank group will be
found financing some very large pro-
positions in Russia.
Very likely before the summer is
ended the official announcement will
be made that the National City bank
group has contracted to finance the
construction of the railroad which it
is now planned to build from Madrid,
Spain, to the boundary line of France,
approaching that boundary by means
of a tunnel under the PyreneeS
mountains. This railway proposition
is sponsored so far as scientific fea-
lures are concerned by one of the
leading American engineers, Jno. F.
Stevens, formerly the consulting en-
gineer for the Panama canal. The ad-
venture of American capital in Spain,
if it be made, will involve about sixty
million dollars.
Sir William Van Horne, with
American capital, is continuing his in
vestment in Cuban railway and agri-
cultural propositions. In the past
year Sir William Van Horne's COM
pany cleared and prepared for cult
walton a very large tract of land in
eastern Cuba. This was planted to
sugar cane. Today information was
received from Cuba that the har-
vest recently garnered shows a net
profit of two hundred and fifty thou
sand dollars.
For nearly a year the United States
has been financing some of the needs
of Germany and there have been re-
cent indications that these transac-
lions from having been merely tenn
as was said when they began,
will be continued for some time to
come There are limitations that
some of the surplus money capital
which has sought investment through
the Chicago banks is now being sent
to GERMANY HOLLAND.