Sacramento daily record-union., 1880-12-08
PANAMA CANAL.
The UNIVERSAL COMPANY
-ros THE-
Construction of an Tnterocean;c Canal
through the Isthmns of Panama
UNDER The
Presidency and management or
Nj. FERDINAND De LEssEPs,
President OF ti,a suez Canal Company,
AND WITH TIE
Patronage ard Assistance of tie PRINCIPAL
Banks and Bankers Of Europe and
America
ISSUE OF
$50, ,000Shares Of 5O0fr. each,
d-IOftUf-su
The Terms Of Organization. on Eeeestt
with M. Ghampeiier de RIbos,
N0taTy Public, of Paris.

YEyHE PANAMA CANAL COMPANY WILL
n be organized with capital OF 800, 600 600
francs consisting OF 100000 shares OF 500 france
each; 10000 shares have been reserved, ac-
cording to the terms Of organization, for tho
original grantees in consideration OF the expenses
incurred and grants ceded bv them to NJ Ferdinand
de Lesseps, the remaining 5so,c0O shares being
offered for public subscription. The subscrip-
ton price is par, 500 francs per share, pay
able follows Twenty-Five francs ia sO) on
subscription, leo francs allotment to be made
within thirty days from date of commission. The
remaining S75 francs will be subject TO call as may
be deemed necessary by the Council of Administra-
ton, notice OF which will be published at least three
months in advance No such CALL however, can be
made before the expiration of one year from the
date Of subscription After the payment OF $50
francs the shares be exchanged for bonds by the
consent of the stockholders at general meeting.
The Of each % shares Will be entitled to one
vote in the general meeting. Inters will be paid
at the rate Of per cent. on all sums paid in
during the progress Of the work. Eighty
per cent. Of the net earnings will be dis
trIbuted TO the shareholders, according to the
terms Of organization. The requirements for
official quotation will be fulfilled soon after the
organization OF the company. Tie public subscrip-
ton will be opened in Europe and America on the
7th, sth and 9Th OF December, 1850. The distrlbu-
ton Of shares subscribed will be made pro rata Of
the total subscriptions, without distinction Of
nationality. The following privileged subscriptions
are not subject to reduction: First the sharehold
ers and delegates of the suez Canal Company have
the privilege of subscribing to one Panama share
for each share Of the delegation Of the Suez Canal
Company; second, the original subscribers to the
Panama CanaI Company have the privilege of sub
scriblng for the Panama shares in proportion TO
their former subscription In order to avail them.
selves of this right, the privileged subscribers on
paying the first % france should present their Suez
bonds or their certificates, proving their original
Panama subscription, to the respective banking
houses.
Subscriptions viii be received in Paris by the
Compagnie Universea du Canal de Suez, Conlptitor
Descompte, Soeiete des Depots ct des Complies
Courantes, societe Gcuer-l pour Ia Development
du Commerce ct de rIndustrie en- France, Banque
de Paris ct de Pays Bas, Credit Lyonnais, Societe
Financiere de Paris, BanQue Descompte de Paris,
aud at all the offices Of the branches aud inland
foreign correspondents. Also, in England Ger
MANY, Belgium, Holland, Austria, Hungary, Italy,
Russia, Spain, Portugal, Switzerland. Denmark.
Sweden, Norway, Turkey and Egypt, at the special
houses designated.
The Council of Administration has appointed =
Special Committee in America 10 represent the Com
pany in this emission Under the authority 50 giveu
the undersigned will receive subscriptions by mail
and telegraph
Messrs. DREXFL MORGAN & CO.,
j. & W. SELGMaE q CO.,
WINSLoW, LANIER 81 co,
New York City, Special American Committee
t5 Subscriptions Received in California
by TRE-
anglo Californian Bank Limited,
SAN FRANCISCO