New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-20
Mr.. jackson Again.

Mr.. jackson Again.
The Morgan-Grenfel Company said
the loan had been called TO the atten-'
lion Of that house by \. Wendell JACK
son. who was probably a man who saw
an opportunity Of cutting in ahead OF
the six-power group and who would
receive small commission for his part
in the deal
Mr.. Jacksons name is not included
IN the contract in any way. Mr. jack
sons provisional contract with China
was signed in July, and consists merely
of an option pending the discovery OF
an opportunity 70 find some one 10
make the loan. Before taking up the
proposition of negotiating with China
Messrs. Crisp made inquiries at the
Foreign Once. and were told hat the
field was free and open and Clat the
Fore8yn once would not attempt 10
interfere. The firm said all that was
necessary for the Foreign Office 20 DO
was 10 write a note saying that FOR
reasons Of state the Foreiga Office
would prefer that no one outside Of the
six-power group attempt 70 make
loan: but the Foreign Office replied
again that the field was open, hat il
would not put anything into writing
but that the British government pre-
ferred 10 see the loan made under The
n
Of the six-power group.
Messrs. Crisp then concluded the ne
gotiations and signed the contract with
China.
II is said that among other reasons
why the six-pOwer negotiations failed
was because the attempt was made to
force China 10 accept German super
vision over the collection Of the salt
duties which constituted the security
for the loan and TO force the reor-
ganization Of the Chinese army under
the supervision Of the japanese.
Treasury Notes offered.
IN other quarters IL is said that the
new Chinese agreement was made with
Iloyds bank, though Lloyds has pre-
viously denied this. A well known
financial house having a big New York
branch said that Lloyds to-day offered
them. through c. Birch Crisp. $500
900 Chinese treasury six-months notes
at 5 per cent unsecured. and the state
rnent was made at the same time that
Lloyds a few days ago signed a con-
tract with China for s50.000,000 loan,
Offering treasury notes, which were
refused, and the same financial house
quoted above said Lloyds had made
the contract with China 10 spite the
Foreign Office. II is stated that the
salt duties which are the basis Of the
negotiations with the six power group
form the security for the new loan.
The Chinese Minister in London has
refused for the last week to make any
statement. either confirming or deny
ing the loan rumors. Mr.. Jackson sits
in a small back bedroom of the Royal
Automobile Club. with a typewriter and
a steamer trunk, repeating that he
signed the loan contract with China on
August 30, but refusing 10 say who is
20 furnish the money or give the terms
OF the loan.
The Chinese salt and tea duties, OF
which the salt duty forms by far the
larger part. were last year estimated
10 produce more than S30.OCO'OO Al
most all Of this goes to the central ex-
chequer. only a small part being re-
tanned by the provinces. The salt ga
belle 10 therefore considered ample Sc
curity for a large loan. though part
OF IL is already allocated to the Boxer
indemnity and 10 special loans.
II Is stated in certain city quarters.
says THE Daily Mail" that. the plac-
ing OF Chinese treasury bills for half
million sterling In the London money
market on Wednesday was followed by
efforts on the part OF another powerful
financial syndicate formed some time
ago TO finance China to place similar
paper. II this is correct. China APP
pears 10 be considering raising money
in three different quarters, and the
question OF the security offered to each
OF the three lending groups becomes a
matter Of importance.
II Is runored that Rothschild or the