Evening capital. (Annapolis, Md.) 1884-1910, 1888-12-18
YANKEE ENTERPRISE
1t Nay Be- Turned Toward the Pam
ANA Canal.
SECRETARY OOLEE TALKS.
He Knows Nothing About the Formation
of an American Syndicate, but He l.
Confident That the Great Ditch
win BE Completed.

NEW York, Dec 15.-The visit Of Richard
w. Thompson, chairman of the American
committee representing the Panama Canal
company, to this city gave rise 10 rumor
on Wall street that scheme was being set
afoot for the purpose OF forming a new syn
dicate of capitalists TO complete the "big
ditca" across the Isihmus.
Some of the more sanguine of the rumor
mongers would have IL that the new syn
dictate would be formed almost exclusively
by Americans; that New Workers would
manage the scheme, organize new company,
buy out or obtain control of the stock in the
existing organization and put the enterprise
through with grand rush"
Secretary Colne was seen at the New York
Office Of the Panama Canal company. He
had no information about an American syn
dictate being about to take the canal out Of
the hands OF NJ. de Lesseps and the French
gentlemen who had worked so faithfully
amid the most adverse circumstances, but he
said
II saw Mr. Thompson Sunday night. He
was in a hopeful frame of mind. Like all
friends Of the canal he feels that the work
must be completed The prospects OF the
scheme in France are Frightening Sooner
or later the money required will be forth.
coming. This is an ago Of progress There
is n great commercial demand for the canal
Mr.. Colne believes that NJ. do Lesseps will
liveto sec the completion of the work t.
which he has devoted 80 many years of his
life
1t was even whispered that Drexel Nor
gan e. Co. were thinking of taking hand in
the canal business, but no substantial CON
firmation of the whisper could be un.
earthed by diligent inquiry on Wall and
Broad streets. That this banking house had
a friendly feeling toward the enterprise was
taken for granted. Mr.. Wright, of the house
Of Drexel, Morgan 81 Co, said:
"A few shares of the Panama Canal com.
pany were taken in this country, and | am
sorry for the holders. l am confident that
most of us win live to see the day when ships
viii be sailing through an American canal
between the Atlantic and Pacific oceans"
1t viii be remembered that at a general
meeting of his company, held as long ago as
March 3, 1881, NJ. de Lesseps said;
'There is still an agreement made with the
American financial group which has charged
itself with representing the companys inter-
est in the United States which brings US a
liability of six annual payments, as follows:
3,lO0,000f. soon after the organization of the
company, 400, OO0f. one year thereafter, and
1900, 0O0G at the end of each year for the
next succeeding Ave years"
The American group was composed OF
Richard w Thompson, secretary of the navy
under President Hayes; Nathan Appleton,
the banking house of the Seligmans, and
kindred connections The amount of the
liabilities of tho company to this group until
1856 was 81, 400, 100 The office of the Panama
company, under the same management, has
since continued in this city IL is asserted
that new contracts on terms quite as favora-
BILE were made by De Lesseps with the Ameri-
leans at the expiration of that year.