New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-21
HOW THE FUNDS WERE EXPENDED.
ONLY ABOUT ONE-THIRD or THE sHAREHoLD-
ERs' MONET WENT FOR ACTUAL
CONSTRUCTION

Paris Dec. oO-Thc affairs Of the Panama anal
Compnnv and the result Of the DISCLOSURES that are
daily being made OF vcnaity and corruption continue
TO cngro>s pnAAc attention. aud the widest sort OF
r,mors fnd crcdcnce. Much has been "Illth re-
ending tbs great sandal but II may rot be- uIlh-
t.res,lug 10 rccapulalc briefly tie principal facts
that ravc caused such political and social upLeaVas'
r,,r vears uco a uould.t0r fo- the company wa- ap-
,,frfe1 since then MANY ef0rts have been maze
10 reconstruct tie company bu' all lave pr"V'o lflt
les. Liquidator followed lqudator bnt al nef'e'
f., declaring that the boots OF the company w"ro III
norfac, order and that though some OF ~" d'O"f7e
o,,s ro,,ht be- questioned ticr good faith was IN
In,t,od According 10 the statements issued by the
.,,ouidotors III, amount expended by tie company
nao,e1 tho enormous total Of 1.3O0'OoOVOO lfnu''
" Acllc Monchcourt the ast liquldaior, placod ul-
der thc following heads tie sums expended
,..,.,soo ,755oc99c,;5oo
pr.lorory wort and orlln,hA, O. 0roO1o
,erc ,,oa a9a gen gs2cr s'' ss oooco9
crstrurtion material and iti oon oo9
rrci@', IUiIi ., Panona Railrod and ''ooO000
INVESTED for payment o' lottery Loid>.---'.'
,,c,..,irc r. I'll, account not the whole ci 'h'
100 90, 900 flames has b en lost efth oi ms S'"
ba, been repaid 20 ;hc subscribers IA u' """P "
interim interest Then there are asset r'P'''''' "
, ro tourtb Gfih and sixth items. These cost "
ut,lo over 700 100000 rraucs ard Their pr'.s' VIM
l. estimated at about 70oC0Ooo ii"h'a ,o, NV ".',
,hro items amounting to littlc over "-'"'"''o'
to,cs ,rc y total loss. The fact that oi me ""o'e
or,t cxrond d only little over Oh'-'"I" ""'
,n, l., tho actual construction Cf The caiAI P"1''
i d,,lpjs,ratIon I'm a bad light. When the charges
-, ,rfrv were first made thoy were scarcely bic''u
-, a ,roio,itv Of the stockhoders. but 10" '.H hlr
1n,orrIrcd that none Gf the mrn VINO w No.,
llackunillng the company shall escape ''" ~
can prevent II. ,..,.d ,,ttb lcing crculv
g. ,i,rd in fine scandal f. Henri tottu. 'h,t'"I Va
,bn rompanv who few days ago wen, " -, ,r,'.
I,, ,hn dav be left Paris an OdcI or ~ az ~ scnn
issued. and II was sad tih n III & bowe,er and 10
p's c,rnrd 10 Paris and surrendered hiinstH u
the police.
~, cp,vr POWER TO MAKE NEW CONTRACTS.
uonor, pee Io.-Whe the Panama 'ai"i sum
,, are lelrg unoarthcd IN Paris the congress o -"
Ioplo in anticipation If speedy r''"lh !" '"'
cork an the enterprise has gon" into an ezra So
, ,or thc purp,>c among other things, ol pIachs ]"
,. hands Of the Executive the powers necessary ~
.n tho mower 10 contlact with new COMPANY
ri,bou, further reference TO that body NJ "''' a.
, ,, ,,u cmbcdving such authorization had pa sea
,,s second reading and NAV now be regarded a' 4"
,oc>,.u,li.hed Sact. The Executive VIII no" DE- '"'
,o,,eraa 70 deal with the question OF eX''nNng q
r. n,her time to NJ Monchl eoIrt In behalf of the
IA ccu,nony. and TO permit NJ. IIclard and as'oc'S
, ,erfect all necessary arrangements lor h'" VI"
i.rs within those limits. far As known -
WA" It, A., ,.cf otions orc largely involved In the
... mr. failure Of VI. IIcla'ds comtina'o : ~
,i.ouch Others have been presented winch nav "''
s"s,u,,s tangible form should all thee efforts
fall however tho Executive Is further ,ioh shm nro
rnIc contracts with new company WIZ VIII s,,t , i,he
I''no I''no ~" Interests OF the Republic ana sstsN t"e