The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-02-06

the TrchCH ANSPuNHS 'NA'S N"'S'-
esiing Disclosures,
PANS, Feb, 5,-Tho appointment Of
the Panama investigating committee by
Congress is directing attention here to
tho enormous American expenditures
from the Panama compapy's funds. In
the public accounts Of the company the
American expenses are entered in a
lump under tho head "Expepded for
offices IN New York and Panama, 10000
900 francs"
NJ. Flory, the government accountant
who recently completed an examIna'
ZION Of the company's books, says that
the Panama portion OF this expenditure
amounted to about 100000 francs.
This would leave 100000 francs for
New York. ,o
II Is, however, an entirely different
and very mysterious fund to which
American inquiry should be first direct
cd NJ, Flory is authority for the state
meDt that at the very inception OF the
canal enterprise the sum OF 100000
francs was sent to New York and OK.
pended under tho direction o.. Richard
thompson. This 100000 francs is
accounted for in the purchase OF sup
plies and tools on payment to American
contractors. The latter expenditures
arc placed in the construction accounts
and do not in any way involve the ac-
counts OF the New York Office OF the
Tie correspondent said to NJ. Flory
that Mr.. Thompson accounted for q
norton OF the New York expenditures
by salaries to himself and Appleton for
eight years. Those salaries, replied NJ.
FIory, were not charged to that pre-
liminary fund OF 100000 francs which
was sent aud presumably expended be-
fore drafts we're made Tor the ordinary
expenses of the New York Office.
NJ. Flory added that he was not salts
fled with the mere entry into tho Pam
ANA company's books OF this 12,000,0 900
francs item, but he investigated and
aSceltained to his satisfaction that the
money was actually sent to Now York.
lie did not know, for the books did not
reveal, who were the actual recipients
OF the money. The only persons hay
ing that knowledge were Charles do
Lcsscps, Mr.. Thompson and the bene-
ficarics themselves.
Mr.. Flory said further: II have dealt
with the Panama New York Company
in an appendix to my report, in which
was compelled to speak Of tho buying
up Of the Panama railroad shares. |
was not able to make careful investi-
cation into the dealings connected with
the purchase OF shares from Parker
Thompson, but should expect to find
the same lavishness in the company's
policy over the sea as characterized its
dealings here"
Nessrs. Seligman 4 Co. are popularity
supposed to know as much US anybody
about the Panama Company's New
York affairs, inasmuch as they acted as
bankers with others and we're OH the
American committee having charge al
the sale OF bonds to New York pur-
chasors. Two members of the firm
said to-day to the reporter: "All our
transactions in connection with the
Panama Company were as bankers
only and were strictly confined to legiti.
mate banking. There seems to BE- no
good reason for suspecting that Panama
funds were corruptly used in America.
What motive was there2 Nothing was
asked Of Congress or any other public
authority"
A gentleman we'll posted in Panama
affairs drops this hint: "Many OF the
most extravaganza Matchmaking pay.
ments from Panama funds in France
were made simply to gain immunity
from attack. No direct services were
expected in return. Adverse American
legislation or rival schemes would have
been n serious menace to the Panama
enterprise"
The systematic attempt this week to
Brighten savings bank depositors to
withdraw funds 10 another evidence OF
tho deep plot to undermine the govern
ment which is being gradually worked
out. The conspirators realize that it is
quite impossible to foment revolution
among people materially prosperous
and not oppressed by rulers. The es.
cape from a general financial panic was
anOrrow one. More timid depositors
took alarm, and it Is said that nearly
SO,OO00O0 francs above the average we're
withdrawn a few days before the govern.
ment adopted rigorous measures to
check tho movement. Most deposits
are invested in rentes, and il the with
drawals had continued nothing could
have aVertod crash when the neces.
sary sales were made.
lnmecting this great danger the gov
crnment has shown moro courage and
ability than it has manifested since tho
present crisis began. II Is to be feared,
however, that tho poison OF financial
disirust will now be distributed In come
more insidious form than through the
newspapers, so that safety Is not yet
assured. Nobody knows what form tho
interruptions campaign against tho
government will next assume.
1t will undoubtedly DO the policy OF
tho government to limit the scandal dis.
closures within tho narrowest possible
limits consistent with Its professions OF
the yirtuous pursuit Of the guilty, and
also to divert public interest into other
channels at every opportunity Tho
mid outburst' Of popular indignation
against England on account OF her
Egyptian policy will not BIO unwolcome
to those who arc still dreading exposure
or TO tho cabinet, which droads indis-