New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-29
TIE PANAMA CANAL COMPANY.
STRONG FEELING AGAINST IT AROUSED ON THE
ISTHMUS.

grRoNG FEELING AGAINST IT AROUSED ON THE
IsTHMUS.
The Colombian newspapers recently received IN tfls
CITY show that strong feeling has sprung up IN thaO
country against the bankrupt Panama Canal Conl-
pany and that the Colombians are disposed 10 VIC"
with suspicion the project Of forming new company
IN complete the work. 1t is limited that the Colombian
Government may require forfeiture Of the plant OF
the old company on the sthmus and that the Panama
Railroad is the most valuable of the assets IL Is
we'll known fact that the major portion OF the STOCK
~ the Panama Railroad was purchased some years
AGO by the Panama Canal Company. The railroad
company is an American corporation incorporated
under the laws OF the State of Vermont ana It's pr-
clpal officers must always remain Americans
Soma sncculatIon has arisen in this city as to what
combinations would ensue IL the Colombian Govern
ment should insist on forfeiture by the Canal COM
many of its stock in the Panama Railroad. senior
pbinaco Calderon Consul General of Colombia III TINS
city said Yesterday Il do not believe thal tneso
aners voice the sentiments OF the Government There
are only two papers in Colombia which are authorized
70 sneak for the Government One is LA Nacion'"
unfinished I'm Bogota and the other Is paper pub
Iished in Cartagena As to the feeling about the new
company believe that If 1t can show tat II means
business II capitalists come forward with money 10
comnlete the canal the Government VIII not press us
claims for forfeiture. but Will eAtehu INC Cooes9o'
10 any reasonable Tine
General Newton president OF the Panama Railroad,
said in regard TO the matter: II the Colombian Gov
ernment became possessed Of the stock of the Panama
Railroad now held by the Panama Canal Company, II
IL would have exactly the same rights as any other
stakeholder and more. The railroad Is operated
under contract with the Colombian Government
which has many years to run. With this contract 1t
could not interfere, do suppose II has any In
tenton Of doing sO.'
IL was said yesterday by a well known authority
on Colombian affairs that while the major portion OF
the stock was held by the canal company, the rail
road was mortgaged to NewYOrk capitalists, and That
the United States need have fear of losing control
of the road. Another prominent man said that he
believed the present attitude Of the Coombias was SIM
ply for effect. that when the new canal company
was formed larger interest In the canal could be
acquired by the Colombian Government by the
terms Of the Clayton Bulwer Treaty the United States
guaranteed that transit the Isthmus shall be
kept open, and several occasions naval forces have
landed at Panama and Colon for the fulhlmen of this
guarantee In 1885 American sailors and marines
occupied the "zOne OF transit" on the lsthmus for
nearly three months. If the Colombian Government
should acquire the practical ownership Of the Panama
Railroad the anomalous position would be brought
about Of company owned by nation and Differed
and protected by another.