Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1882-03-16
THE PANAMA CANAL.
Great OUTLAWS, but Little Accom-
pIished


year cannot help thinking that If this
company are in earnest about pusbino
ene Work, excavations might now be
progressing on large scale. instead OF
winch, there is, in reality. nearly next
10 mounting done. Some material ha7
Deen Drought out and dumped on the
Deacn. "A few small houses are being
erected at Gatun, Emperador, and one
or Two other points. The Grand hotel
mas been purchased and filed by offic-
iais. The expensive toy of a fancy
hospital IS going up. the engineers are
Sui studying the ground, and this is
ABOUT all which has been accomplished
with the first SIS, 000,t 90 of the share
holders money. At this rate oil going
1,OOO,O00,000 francs will not half
build the canal. 1t has been shown.
however, that out of his first 100000
600, NJ. de Lesseps, after paying off
outstanding scores, will have only SI2.-
100000 to work with. Surprising that
he does get the loan of an equal
amount this would make but SO 300
600. and even he. sanguine as he is.
does not contend that this sum would
suffice To finish his task. Where. then.
Is the difference between this sum and
the Sl4O,OOO,OOO which ne SAYS he
needs To come fTOmP This difference
is only small item of $67. 500. 600.
Admitting that all the first 500. 600. 900
be paid up. thing which is by no
means certain, IL is hard to believe that
the shareholders will consent to mort
gage their interests i'm favor of parties
who up till now have risked nothing.
In order to get second $60,000OOO to
carry the enterprise through, although
II they did make such a sacrifice il
would avail them nothing. The situa-
ton IS, therefore. becoming difficult
and men who find themselves embarked
In the speculation will be likely to con-
slider that their best way out is to
leave II now.
From the cOmpany's Office it is i'm
possible to find out whether or not the
second call for 125 francs per share.
payable between Jan. 2 and Is of this
year, has been fully responded to. 1
am informed, upon what seems good
authority, that the call has only been
artially successful. Ny informant
isured me that the king of the Beloi-
ms has withdrawn himself from the
enterprise. His majesty was one of
the heaviest shareholders in it. The
same party also states that many of the
shareholders friends who were sent
out to fill positions on the isthmus
wrote home very discouraging accounts
as to how things were going on, and
That these stories had disastrous eff
feet upon the company's financial pros
poets. AS If to confirm this piece of
evil news for the company, hear nat
they have suspended the work p5 Ga
tun under the pretext that the Huerne,
Slaven& Lynch contract will cover that
point. This contract has not been
signed up till the present, but there
can hardly be any doubt that it will 90
into effect. At all events. the aus
pension of the very little work that
was going ON at Gatun can hardly
matter a great deal. The few little
houses that were going up there can
be finished at any time; some of them
are already.
There is bitter quarrel going on
now between the local press and the
company on account of the CHILEAN
. dollars which they have contracted to
be struck at the mint in Santiago.
The people here believe that this new
coinage, which has been denominated
the "cdnal dollar" is inferior i'm value
to that now in circulation. A threat
was made that the merchants would
not receive the new coin unless at a
n rot NJ Il
the ire Of Mr.. Levy, who is the com
pany's financial agent, who is reported
rs saying that IL the merchants should
refuse To accept the new CHILEAN dollar
he would at once stop accommodating
them 10y selling exchange on New York
In their favor. This threat has not
been carried out. An official of the
company went To one of the merchants
and said that If they carried out their
intention to give only 90 cents for the
new canal dollar not only would the
company discontinue the sale of ex-
change upon New York, but that the
officials would not buy dollar worth
OF goods from any merchant in Pana-
ma. This threat of boycotting the
merchant brought from them, through
the press, a plain statement, saying
IN substance that business prospects
had in no way improved since the com
pany's advent, and that they might go
or come as they pleased. The leading
faturss of the company's contract
it'll the CHILEAN mint will be found in
ny last letter. called the day before
Yesterday upon Mr.. Reclus for details.
but that gentleman declined to give
me any information touching the point.
He did vOuchsafe to say that the COM
pany's interests had in 40 way suffered
from the financial panic in France.
Commenting upon things as they are
at present one of the oldest and most
respected residents said To me the other
day: Eyes. it's a confoundedly bad con-
dttion IF things. the canal concern is
shal1y and unreliable. The share-hold-
ers could not have come to time in
Paris. else we would have heard of il.