Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1900-01-04
AMERICANS BUY A CANAL.
At Least They Now Own an Interest In
the Panama.

Al Least They Now Own an Interest In
the Panama.
New York, Dec. SO-The incorpora.
ton OF the Panama Canal Company of
America ia said to be the first move in
I plan to transfer the Panama canal to
Americans in order that 1t may have
q better chance in the struggle with
the Nicarayuan concessionaries. The
banking houses and individuals who
are understood to be interested are:
August Belmont & Co., Kuhn, Loeb b
Co., Levi p. Morton, Charles r. Flint.
J. Il. Simmons, president of the Fourth
National bank; Edward Sweet, George
Sheldon s. Co., Barring, Magoun & Co.,
and George w. Young. president OF the
United States Mortgage & Trust Com
pany.
In addition to these, several banking
houses in San Francisco and in cities
in the South and West are interested
in the company. The Herald says this
incorporation of an American company
Is the result Of negotiations between
representatives OF the French company,
including Baron Openheim, who came
to this city from Paris several months
ago, and leading financiers Of America.
The representative OF the French COM
pany came to this country empowered
to transfer the rights Of the company
having now been Incorporated, the
transfer will very shortly be effected.
the transfer to be given formal approval
by the shareholders in France. These
shareholders receive shares in the new
American company in proportion to
their holdings in the old.
This "Americanizing" of the Pana
ma canal, as one Of the gentlemen in
terested in the new company styled it
yesterday, has been brought about in
order to place the Panama canal on
footing in America more satisfactory to
the French company, and TO place it
on the same base as the Nicaragua
canal before the United States govern
ment.
An isthmian canal commission, with
Rear.Admiral Walker as chairman, is
now at work making an exhaustive
across the isthmus Of Central America.
This commission was created in the
closing hours of the last congress, and
81 1000, 900 was appropriated for its use
through THE river and harbor bills.
Its report will undoubtedly be final rs
far as the United States Is concerned as
to the hest route for canal. Its par.
ties, both engineering and exploring,
are now scattered over Central America,
obtaining material to assist tho com.
mission in forming conclusions.
The French company, realizing the
importance of the commissions find
ings, has taken the steps which have
been described, believing that the canal
commission would naturally he enabled
to judge more impartially between the
two routes with both under American
control. The gentlemen of the French
company long since recognized that
the undertaking of canal across Mica.
ragua either by the United States or by
private parties with the assistance or
Endorsement of the United States would
be a most serious blow to their project,
but the American financiers who have
formed the new company, now that the
two routes are ON an even footing, and
that Judgment will be made only on
the grounds of engineering and general
desirability, they argue that the
"Americanizing" OF Panama is the
only way by which the 400 shareholders
can have any hope OF any return from
the 5000, 900, 900 which has gone out of
France and into the canal, and they be-
lieve that this arrangement can pro-
duce only good feeling between the two
countries.
Since 1884, when the French COM
pany was formed, there has been ex.
pended in work on the canal something
like $S,OO0,O00. Several thousand
men, mostly negroes from Jamaica,
have been employed, and experts de.
clare that the money has been properly
expended, and that good progress has
been made. There is large number
of men at work Oh the canal at the
present time, and this force will be
found at work by the canal commission
when it goes over the route, which will
probably be during February. The
canal is about two.tiths completed,
and the new American company esti.
mates that the cost of completion
would DO about 800, 900, 900.
Hilton Paintings ut Auction.
New York. Dec. 30.-The gallery OF
paintings collected by the late Judge
Hilton is about to be sold at auction.
1t is composed of nearly 400 paintings,
mostly by modern French artists, and
is valued at more than $500, 900.
Among the masters represented are
Meissonier. Cort, Daubigny, Gerome,
Vibert, Makart, Munckasy. Bourgereau
and Tissot.
Quarantine Against New Caledonia.
Melbourne, Victoria. Dec. SO.-A
passenger who arrived here on board
the steamer Australian from Noumea,
New Caledonia, where the plague ia
raging, has been quarantined, and eight
others have been placed under surveil.
lance.
Money for Improvement.