The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-11-12
TO CONTROL. SILVER
SYNDIoA TIE UNDERTAKES 4 BIC
JOB In PANAMA.
So Far They Seem Successful In Holding
Everybody Else at Their Mercy
Colombian silver Once Exported ID For
hidden to MISUNDERSTANDING Taken of
Law Aimed Originally ut Peruvian
aud Mexican Coin-- Matters Relating TO
Bonds OF the Nicsraguan Railroad.

aud Mexican CoIn-- Matters Relating to
Bonds OF the Nicsraguan Railroad.
Colon, Nov "A syndicate was form
ed month since among the leading
merchants OF Panama and Colon 10 con-
troi the silver currency in circulation
on the Isthmus Of Panama and has been
so far successful enough 20 seriously
affect the Panama company and in a
lesser degree the Panama railroad 10
their detriment- II has caused q re-
duction in the premium on gold from
20 per cent 10 200 per cent and II now
looks as il gold would go stin lower in
consequence of the expectation OF large
sums 10 New York. London and else
where and the locking up OF other large
sums. The scarcity OF silver coin Is ser
iously felt in business TRANSACTIONS. and
United States, English and French coin
circulate almost as freely as the legal
coinage OF the country.
Both the Panama canal and the rail-
road companies have trouble TO get SUI
ncient Colombian coin to pay laborers
unless they buy from the syndicate AT
the price dictated by it To circumvent
this movement, the Panama railroad
lately purchased $4,000 Of Colombian
silver in New York at the market price.
which was about $2l4 for one dollar
United States gold. and shipped il to
Colon; but before il arrived the syndi-
safe was informed Of the fact by cable
and application was made TO the gov
ernor OF Panama 10 enforce a law pass
ed IN 1892 which prohibits the imporIa-
ton OF silver COIN OF am country less
than 900 fine. This law was passed 10
mrs he INN raj frr, 81
tion or Peruvian and Mexican soles,
which at the time We're at a greater dis
count than Colombian silver The gov
ernOr refused TO allow the railway COM
pany TO land the money. even though II
was the legal currency of the country
and relief was sought by cabling the
national authorities at Bogota, the cap
ital, but up 10 the time OF the sailing OF
the vessel on which the coin was snip
ped, no reply had been received and it
was returned 10 New York.
If the national authorities uphold the
action OF the governor OF Panama and
the legal coinage OF the republic Is pro-
hibited from being returned II once ex-
ported, thes indicate can make what
coin remains in the country Of equal val
ue OF gold II it so desires.
Abroad the value is controlled by the
price OF silver bullion and al present
81 Colombian silver is worth about 49,
cents in United States currency. The
Panama Canal company, which is now
employing about 800 men, who receive
from 80 cents TO 81 80 per day. secures its
silver currency for its monthly pay roll
by selling drafts on Paris, London or
New York and is at the mercy of the
syndicate unless il adopts gold ba-
sis in payment for labor: or can buy
Colombian silver IN New York or Lon
don at It's market value.
Managua, Nicaragua, Oct 1S.-The ad
referendum settlement in London, on
Sept. IL. of Nicaraguan railroad bond
debt of 1885, between representatives OF
the government and the chairman OF a
syndicate that is understood 10 hold the
right ITO purchase these railroad bonds
at 80 cents on the dollar cash and the
remainder in preferred 10 per cent stock
of an English transportation company
yet to be organized, is said 10 be in vio-
iation of act five Of Nicaraugua's exist
ing contract with the Maratfme Canal
company of Nicaragua. IL is reported
and believed that President Zelaya has
signed this agreement and forwarded
IL to London for the signature OF the
council of foreign bondboiders.
iCu the OF
health. Hoods Sarsaparilia makes rich,
red blood.
New York. Nov. 1.-THE sheriff To-
day took charge Of the establishment OF
Daniel H Roberts. glass importer at
AIS West Broadway. on an attachment
for $94 600 IN favor of the Cham bers-
Mckee Glass company.
Chicago, Nov. l0.-The twenty-elghth
annual meeting OF the general commit
tee Of the Freedmsn's Aid and South
ern Education society began here to-
day.
Leadston, Idaho. Nov. 1.-THE alb
sorbing topic around the borders OF the
Nez Perces Indian reservation Is the
announcement that the president wiu
issue a proclamation opening the RESET
walton Nov. IS Enough hone-seeksrs !
are now in camp near the reservation
70 take all the desirable lands opened
TO settlement and Il IS expected that a
rush viii be made.
Pittsburg Pa, Nov. ia general /
strike Of plumbers was inzuslITated /
per cent taken off wages two years ago. !
-Four hundred men are out
Marquette. Mich. Nov. 1.-THE Mar (
qustte Powder conpanys mills sttuss- 4
cd four miles from tfIss city. exploded I
this morning. The entire structure was /
demo- shed and two men blown 20 atoms
IT, 81.