New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-14
RAILROAD INTERESTS.
The PANAMA ROAD AND PAClflC WALL
GEN. NEWTON DENIES THAT THE RAILROAD is
AT THE MERCY OF THE sTEAh-
SuIp COMPANY.

GEN. NEWTON DENIES THAT THE RAILROAD 40
AT THE MERCY OF THE sTEAA-
SHIP COMPANY.
A story was published Yesterday to the shcct INA.
the Panama Railway had been placed AT inc n'''.y -
the Pacific Mail Steamship Company oy u'e p
ponement OF concessions TO the Panama oahaI WV
pany from the United states OF Columbia. Inc III
ference to be drawn was that the fae'hc ''" go"
ship Company would be able TO enforce It's su'l' ~
law now pending TO prevent an alleged gross Dreaop
OF contract between the railroad and the steamship
companies Edward Lauterbach. counsel ior '"e
Pacific Mall Company. was ont OF the CITY anu ~
statement could be obtained from the eo"P""'
officers. Friends OF the company said thes VIZ
sorry that the story might not be true, because u
might indicate that the agitation against the r'e"'"
Canal Company's influence in America was unheces'
airy.
General John Newton. president OF the f"n""'
Railroad Company, said
Part of the story published this morning Is true
and another and greater part Is false Inc MAJORITY
OF the stock is stated, owned In France ana '"'"
OF It believe by three men, NJ. Paul Arthur Cheramy'
NJ IIyronimous and NJ. Boudet. The receiver OF tho
Panama Canal Company votes that stock 81 '"e
affairs OF the Panama Canal we have absolutely no
knowledge. The Colombian Government may OF may
not have refused to extend It's concessions IL docsh
make the slightest difference to us. We nave no part
In any Of that trouble. though the attempt Is being
made by the Pdcifc Mail people 10 iiNo'c "o III ~
and make Us appear unAmerican and so prejudice our
case against them. Now the facts are just these III
1872 an Ubiquitous contract was made win the facno
Mail by the persons who then controlled the roao'
Three OF the thirteen directors refused to take part ana
resigned Nine OF the remaining ten we're also
directors OF the Pacific Mall. The Pacific Mall In
stead OF going work and getting business Tor US
and under our contract We could get 1t In no other
wayalrcd Itself with the transconncnal railroads.
n turn everything from u.s. We want traffic. When
our contract expired we demanded fair treatment We
were willing TO make similar contract with any
steamship company not controlled b. the transcon-
,inenta lines or with Pacific Mail itself II II would
fry TO turn business TO us. As II Is, We are going
10 establish line from New-lork TO Colon. and san
Francisco capitalists will cstabl sh from that city
TO Panama.
The statement that william r. Grace Is In ANY
way connected with our quarrel Is absolutely false
We have had no connection with him. We know moth
ing about the missions OF Mr. Bushnell and Mr.
Tsdale 10 Colombia our real interest wonld be In
having the canal fall for It's success means our road
hc,np almost useless They talk about French In
forests pr,siomlnatng here. They forget that there
are some o. 900 900 OF bonds largely held In America
which must be paid both principal and interest.
American interests demand that have business to
enable us 10 care for this. Then. too. who Is to
blame for the French ownership Americans owned
the road and sold II ut a high figure and at the same
fine gave the permission for the building Of the
canal The railroad had absolute power that sub
iect The French bought il to secure the necessary
consent Their control will do no more harm 10
American interests III" i minus than would I. 7.
Huntington and George ''Ould by ruling ana runhlnS
the road for the benefit OF the nnScontllcntiai ra