1 learned first and most important of all that Mr. Yamamoto is on the point of embarking on a new "open door" policy which will remove once and for all, he hope: the suspicions of the Powers in rexard to Japan's intentions in Manchuria, "Often and often has the open Door Policy been discuseod and mentioned in the past, but little of a tangible nature has transpired in support of Japanese promises this respect. All this is to be changed; an opportunity is to be accorded to the Powers really to partake of an interest in the industrial development of Manchuria, There are, as most people are aware, a number of industrial enter. prises operated in the Railway zone by the South Manchuria Railway, enterprises much as the Fushun Goal Mines, fron and Steel Works and others' that need not at this point be mentioned. It is Mr. Yamamoto's idea that these should be further developed by the incvrsion of foreign capital. Profit paying as they all are, the profits of these industries will be considerably augmented by the entry of new capital which will also be utilized for new enterprises which will offer themselves for development It is expected that foreign cap to the extent of Gold Yen 100,000-
000 will be sought for this purpose in European and American financial circles. The Open Door Policy in Manchuria would become, by thy successful subscription of " this sum, an actual fact, not something talked about and heralded as in the past. But so far feather, no portion of this sum is required for use on the South Manchuria Railway Company iteclf which is to remain a" it is, entirely.
Japanese owned and Japanese coir trolled.
The Question of Security The advantages offered to foreign investors in China or, more jcorréetly, Manchuria, are ' many.
First of all is the very important factor, security. This security is at present well exemplified in a comparison in the value of railway bonds on the market. Although interest and principal on the Peking-Mukden Railway bonds is being met by the Chinese Government, their value is only in the neighbourhood of £35. South Manchuria Railvay Bonds are quoted at par, eloquent testimony to public confidence in anything Japanese controlled. There never any danger that Conces-yus in the South Manchuria Rail-zone shall suffer the impos tions suffered to-day by the British Chinese Corporation, the. Kai-Mini Fu-Chang Corporation in Chinese territory or territory wherein the protection of foreign troops is not possible, Some of the uses to which new capital will be devoted when subseribed lie in the development of ceramic works, the soda ash industry, forestry, mining, stock-farming and the encouragement and improvement of agriculture, all of which are to be operated under joint foreign-Japanese management. It is expected that Government sanction of the plan will be obtained shortly. This, briefly, is what I have learned from the President of the South Manchuria Railway
Text read from the printed page and cleaned; old type leaves the occasional error.