The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-30
COUP OF VICTORIAN ERA
ENGLISH CAPITALISTS SECURE HOLD
ON THE PANAMA CANAL.
French Company Officers Bribed and
Enterprise Captured Same Way
They Got the Suez Canal.

NEW YORK, Aug 29.-English capital
will undertake the completion of the Pana-
ma canal in order to insure British control
of the waterway to the Pacific From a
source that is wholly credible it is learned
that British capitalists have secured all the
rights and property of the new Panama
Canal Company, organized with a capital
OF eo,OOO,OOO francs, on the ruins of the old
De LesJeps corporation. These financial
strateglsts have secured a seven years eX-
tension of the Colombian grant, which will
expire Oct. "a, 1897. This renewal was Sc
cured from Colombia, it is declared, by
means that will not bear investigation.
The second French Panama Company was
thwarted in its efforts to secure a further
extension of time in which to complete the
canal. The fiscal agent of d British syndi-
cate, named Farquharson, had been diplo-
matically at work in Bogota for nearly a
year to prevent the renewal of the priv
ileges to the French by the Colombian gov
eminent. His efforts were crowned with
success; then having the French company
at his mercy Farquharson made terms by
which the great English syndicate behind
him secured all the working property of the
present corporation and a controlling inter-
est in its stock.
Tactics SIMILAR to those employed 20 wrest
French constructors have been and will be
used by this English corporation. Coupled
with the purchase is a secret agreement,
executed in Paris by other British agents
of the same principals, that the French
Panama Company'S officers Will not make
any application to the Colombian govern
ment for a renewal of the concession This
remarkable agreement, it is charged by
members of the company not included in
the deal, was secured by gross bribery and
the payment of large sums of money to
French officials, whose duty is to safeguard
the interests of French investors. With the
transfer Is included ~ per cent. OF the stock
or the Panama Railroad Company that be-
longs to the French Panama Canal Com
pany.
The Colombian government receives, be-
sides money consideration, a small inter
est in the stock of the canal company. OF
the former the BOgOta government is
greatly in need. as its treasury is sadly
depleted. The English will have absolute
control of the Isthmus of Panama. Owning
the Panama Railroad, as they will, they
can limit its use in time of war to military
purposes. English capitalists being in pos
session tS OF another 1antage point IRON
United States, the British government may
be confidently expected to fortify Colon and
Panama Ito protect the interests of its
commerce"
Every reason exists for believing that this
Panama coup is to be the GROWING diplo-
matte success of the Victorian era In the
hands of England Colon will become COM
mercially greater than Singapore, a mill
tary storehouse as important as Gibraltar
or Malta, Strategically more valuable than
any outpost in the western hemisphere.
Transfer of the property to the new COM
pany will take place as soon as possible,
because the English contractors desire all
the time they can secure. They will prose-
cute the work according to the plans of Mr..
De la Tournere which receive commenda-
ton from the English engineers.
The canal will have six looks and a high
masonry dam across the ChagreS valley at
Alhuela which dam will regulate the
Chagres river and form a lake or reservoir
at a level high enough to feed the superior
part of the canal, between the locks of
Emperador and Cucaracha, during the wet
or dry season.