, 1892-10-12
ISTIINIUS NEWS.
(Colon Telegram, 2ud Sept.)

Since our last fortnight summary, the dis
QUESTION Of Canal matters has been the theme
Of all conversations, relocating to the back
ground all other questions, even the cholera.
That there has been some reason for this
outburst Of popular enthusiasm will be
seen from the following cablegram which
was rpcsivcd from Paris on the 25th
ulto. -:
"The Journal, Le Paris, says Shat Mr..
Monchicourt, the Liquidator Of the old
Panama Canal Co., has concluded an agree
ment with Mr.. Hielard, ice President of the
Paris Chamber Of Commerce, providing for
the formation Of a new Company, with a
capital Of thirty million dollars to resume
work on the Panama Canal. The work Will
be resumed Immediately, in order to prevent
the lapsing Of the concession granted by
Columbia to the old Company. For the
present operations will be concentrated to
excavations at Culebra, and tile work of
damming the Chagres and preparing the
Central lake. 1t is believed that before the
entire capital is expended, As Kilometres Of
Canal out If the rs kilometres Will he open
to navigation. Tie new company has the
money ready to embark in the enterprise
The callegram added that the agreement
between Messrs. Hiolsrd and Monclicourt
was to have received the approval Of the
Paris Chamber Of Commerce on Friday the
26th ulto.
The yoluminous and in no wav e%quivocal
telegram vas received with difideuce, the
pesslmist using the argument that it Was too
good to be true, Withholding credence
thereto, till the receipt Of telegraph ic an
nouncement to the Lipuidator'S Represen-
tative on the ISthmus, Of the sanction Of the
Chamber Of Commerce of Paris az mentioned
in the message. There may be some wisdom
in such prudence but from the very tenor
of the message, coming from a source which
no one here can impugn as Tar as veracity
goes revealing as ii does the hands Of men
versed in the tcchn,calitics Of the question,
added to this, the information received by the
leading merchants in Panama and this
city, ~confrmatory Of the cab esram referred
to, we conclude that some arrangements
have been arrived at which will permit
the early resumption Of wotk on the 18TH
mus.
Connected with tlis was the expected
arrival Of Mr.. Mango. a former Director Of
the Canal works, who was looked for by The
French str. .Amerfque' on The 28th ulto,
to begin the preliminary work of preparing
the machinery, etc. The steamcr was no
sooner in s. 4ht. than "a large crowd gathered
at Pier No. 4. to welcome him, The leading
citizens and the officials in the Canal service,
were also there. 4 palace car WAS in
readiness to convey him over % Panama, but
it eventually leaked out that Mr.. Mango was
not a passenger by the "Amerique." This
news acted like magic on the popular
enthusiasm and the crowd dispersed greatly
disappointed, Through the courtesy of Mr..
P%ourquie, the Canal Liquidator's Represen-
t~stive. we are able to publish the following
telegram, which explains the non-arrival Of
Mr.. Mango =
Monchicourt to Pourquie.
Panama.
'The departure of Mr.. Mango has been
postponed. We PAL ~ticularly desire you should
retain the general direction until further
orders"
The cablegrAm has damped certain
ardours, but we are of opinion, that it does
not affect the arrangements reported by
Lo Paris provided they have really been
made.
Locally a change of 0 Importance has
taken place in Canal finances the Direction
at Panama having no longer the faculty of
issuing drafts on Paris, in future only cable
transfers will be issued for values not less
than $4,000 francs, With the high rate
of exchange obtaining at gpresent, this
cannot fail to be unpopular and will