The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-01-25
NEWS OF RAILROADS.
How the Pacific Mail Got Ahead
Of the Panama Receiver.
DIPLOMACY COMES TO ITS AID.
where the Control CT the Panzma
Road Es-A Aberdeen Wants to
Mako Railroad Avenue.

IT. following article sro.a ne Sev York
Worsd contains The story 81 Row the Pacific As +!
Company went 70 work 20 brig me Panama
lsnal Company % terms for tie sale Of :6s
Panama rs4lrcsf:
Ever since tae fsilr-e o. tie CREST swia6llng
GAIA! scaerae the shrsw operator. n % cOL1F-l.e
she Pacific Maj steamship Company nave
viewed WIKI sygre hs1s.ou ths TlTosTset d the
future % rls Panama railroad 11e STOCK %
s-e .sijreas naa uasse1 from American coarrol
q: very exorD.iaat prices llto .he hands o. tie
canal riEg. Tie f:aDeA{ss II the railway gave
IL TIE exclusive right 81 transportation aefoss
tie isthInus and TIE cana people were power
less without The possession 81 the property
The "a lnFe Of the canal company let the rail-
yoa1 stock almost the Only valuable asset, aud
SHARES nIYnt erluz - 81 oIt % total Of zoos,
secured ~ the czag people, lad passsa Into tbs
Eau9s 81 tie receiver appointed Ia France 4
Paris dispatch gave oat the terms u the hold
igg c. tae g.. "A share exsetiy ~ the receiver 81
tie catst company desired t1s plD4Ic 70 D.
lseTc. ''AIi tie stock Of the Panama railroad,
the receiver viii say. IL be j. pressed, 's OUT OF
the control Of tbs Office, ezoept the equity o.
REDEEM ytLon." The setue fact = oniy -, ~
shsres. held by ChersTnF. are in hoc, &c II We're,
for the bsnsft cf the unpaid canal contractors;
the 100 held " HyrDniInols and Iva EeiG ~
Bor6et. are sflii practically Gnple9ge1 ana s1e
a. TIE sDoSH. OF The canal receiver. EyTo1i-
raoGs was formerly treasurer Of TIE cana CON-
pauY: B0uGGt was tie Igie secretary. Ihsy
have the Panama shares IN ibejr NAMES
simply as q uesus OF safety. Ins
yecei yer fs protecting the s4sets long "a posi-
bic, protection which would Dc investigated
aud upset very quickly anywhere b1t in rance,
where, uDti! very recently. the energies OF the
government have been directed 70 cover every
thing adverse 70 the canal ring
Ehea the Pac nc Mai fvrme9 pool with The
trauEcoItineatal railway lines TO regulate
freight traffic by the way Of the isthDus, the
Panama railroad people were placed IN TIE 20
si.ion Of complainant They obteeted 70 the
comparatively small cargoes Of goods which the
steam hips brought down from san Francisco
and New York. The Pacific Mail company re-
ceiyed large monthly subsiGy from the ran J.
road, and otisDtimss the boats iTOm New YORK
would arrive Et Colon ha!f-iGdeu With the r-euli
o. greatly diminishing the transportation OF me
railroad.
The pool wss maintained untii broken By the
wit.Gfawa. o. the Atch!sor company. AZ pres
eHt the Atchison, ana probably ihe ''"5theFn
Pacific, are out. bus the Hunt nst0H 4nes. the
Gould interests and jim Hill, OF ~ Pau!, are
Just earnest ~ The desire 20 control tie
istbTauE traffic as formerly.
A few mouths ago representative OF tie Pa
ehc Mail ~ent abroad 20 communicate WITH
Receiver aoaehicOlft Tho burden OF bis Drsi-
ness that the Pacific Mail wished c Goa
trolling interest IL the Panama railroad me
shares held by EytOnIm0gs would b. enough 70
secure lorlty Of the stock q rhe voting l.t
The receiver va. in position where tie con1ict-
ing interests influenced him. IL The control OF
the Panama railroad passed from the cana the
lalter would b. AZ the railroads mercy.
Aonchicourt has been hopeful ali along OF
tie renewal I'll the franchise aud OF future
work on sud the completion Of the gres, ditch.
After much discussion Monchicourt named the
price Tor the stDcs, which Hhs not FatIs.actofy
20 the diplomai!st froIa New YORK. lie was
willing % give all the stock was worth, how
ever. but the receiver would no; change be fg-
uTcs Ia final interview with Aoncbicourt he
informed the latter that he (AOnchicou.D
would realize before long that the value be at
tacheG 10 the stock fictitious. also that the
receiver would be glad 10 cell Oh the PacInc
Malls terms.
Ia due season the diplomatist left Paris aud
lie 81. n action the machinery OF depression,
and the prospects OF the canal scheme have
been growing beautifully less The friendly aid
81 President Harfisou's government wss in-
voke3 ana Obtained, and state papers were
drawn up a. the state department and dis
patched 10 Bcgota
The situation of The canal affairs in that re-
public was follows: The canal interest,
through Monchicourt, had applied for d re-
construction OF the big ditch, which was for-
felted because 81 the failure Of the company 20
fu.Hll It's part ot the agreement. Secretary Eos
ter iniorioed President Sunez tina, IL would re
extremely Gistestelui 10 tho United states gov
erE.ment II the franchises were continued, and
Bushnell. Of Nebraska, bore credentials giving
hiGn authority 10 speak for the secretary OF
state.
Although the official interrosition OF the
NDIteS states had been successfully invoked,
Pacific Mail interests deemed il expet.ent 70
Use litiie private q p,ouacy Of lis own. A
representative was dispatched 10 the isthmus
w3:h great discretion 10 the arguments he
should use on President SuneZ In. success OF
the combined effort OF the state department and
It's agent became apparent when dispatch from
Panama "Wednesday announced that the Colom-
biab government had been shocked by the ex.
posture Of the Panama canal frauds in Paris
ana i bad deemed wise TO delay extending the