New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-06
CANAL CONSOLIDATION.
,xroRNAI, OVERTURES MADE TO THE
PANAMA DIRECTORS.
,nrs,nrNr BARTLETT's IDEA is THE BUILDING
OF NICARAGUA CANAL WITH FRENCH.
ENGLISH AND AMERICAN CAPITAL
TO REMAIN UNDER AMERI-

CAN MANAGEMENT
[BY CABLE TO TRIBuNEl
Copyright 1896; oy The Tribune Assoetano~
London March 5.-The reported consolidation
OF the Panama and Nicaragua Canal companies
has been prematurely announced in Paris. where
secrets are not we'll kept The managers OF the
Nicaragua Company. who have been In Europe
for several months attempting to raise the money
required for the resumption of work. have been
considering a bold stroke for the removal OF
their French rival but nothing has been done
beyond the exchange Of views with intermedi-
aries acting in the interest Of the Panama Com
pany 1t is probable that an offer has been made
for the purchase of the assets Of the French
company, including the Panama Railroad. but
nothing has been settled and no definite PROPOSE
ton has been submitted by either Board of Di-
rectors The motive Of this transaction. II 1t be
carried out will be the concentration OF effort
upon the completion Of the more practical project
under American management. The French prop
erty will be purchased. IL at all. in Nicaragua
bonds, and. with the consolidation OF the TWO
rival interests. it will be easier to obtain the
capital required for the Central American water
way The news has leaked out in Paris. greatly
10 the annoyance Of those who have been IN
secret conference for two months.
Mr. ]. r. Bartlett. president OF the Nicaragua
Canal Company said this morning, when lie was
asked whether anything had been settled: II
have refused in the most positive manner TO
give out anything for publication pending the
negotiations but the information has been pre-
maturely published In Paris. This l deeply re-
rret Overtures have been made looking to the
fusion Of the Panama interests with those OF
the Nicaragua Canal. under Franco-Anglo-
American auspices the management OF the en-
terprise remaining In American hands. This
has been under contemplation for some time,
but nothing has been decided, and the subject
has not yet been brought before the respective
boards
1.-The proposal In general embodies the purchase
Of the Panama Canal property on conditions that
are satisfactory. Details cannot be discussed
at this time regret that anything has been
published about 1t, because the negotiations so
far are informal and 90 not commit anybody
but have for their object the fusion Of national
interests in building the Nicaragua Canal. This
scheme will enable the French company to dis
pose Of their property at a good price, and re-
ceive something in return for their investment.
This will be better than persistence in an idle
dream Of building a Panama Canadian impos-
sible project physically and financially. The
Panama people will be wise II they carry out
scme such arrangement, because il Is at once
practical and logical"
Mr.. Bartlett was asked whether money could
be raised for completing the Nicaragua Canal If
these rival interests were once harmonized. He
replied that there engineering difficult
ties; II was simply question Of money. The
present plan was to obtain money from the lead
ing maritime nations, which would use the canal:
namely the United States England. France and
Germany. Two canals were not needed The
Panama route being impossible it was folly to
waste any more money in attempting to carry out
q chmerical project II that competing project
were removed there would be greater confidence
in the moneyed centres f the world In the
cess Of the Nicaragua Canal which the only
possible route: hence the concentration Of In
terests and effort desirable. Without any
question the money could be raised In America
and Europe II the rival interests We're har-
monized
Mr. Bartlett also asked whether his COM
pany would not have opposition from powerful
corporations in America even If this fusion We're
effected. He replied: Yes. Some transconti-
mental railroads oppose the construction Of an
open waterway through Central America They
assume that 1t will injure their overland busi-
ness. They are mistaken. What these railways
need is larger population. industries and COM
merce on the Pacific coast and this is what the
opening Of the Nicaragua Canal will give them.
They will do more business with the canal than
without It,.
Mr.. Bartlett declined 10 discuss the diplomatic
and international aspects of the consolidation
question and the bearings Of the Clayton Bulwer
treaty, beyond remarking that a canal built to
accommodate the commerce Of the world was
obviously Of international scope. His idea ap-
parently Is TO get money wherever he can find It;
to shut off all further talk about the Panama
Canal: to keep the Nicaragua scheme under
American management. and 10 let diplomacy
take Of itself l. ~ F.
CHEERING NEWS FROM MISS BARTON