The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-22
NOW WILLING
To SELL CANAL
%
Panama Shareholders Have a
Warm Meeting.
-&-
TAKE ANYTHING, THEY CRY
FRENCEMEN NOW READY TO
SELL TO UNITED STATES.
TAKE ANYTHING, THEY CRY

+ Paris, Dec. 21.-At the meeting of the
board of directors of the Panama Ca
nal company Thursday, President
Hutin, who recently returned here from
the United States. and NJ. Choron. the
director of works. resigned their Of
fees. The report presented at the
meeting of the shareholders of the
canal company here this afternoon re-
views the negotiations for the sale Of
the canal property to the United States
and says:
''The decision of the isthnlian COM
mission was evidently due to a misun-
derstanding which must be dissipated.
We shall ask you to give us full pow
ers to negotiate with the government Of
the United States under the reserve Of
submitting for your approval the fig-
ure upon which the representatives Of
the American government agree and
the majority to whom We shall entrust
the continuance of the negotiations. Our
negotiation viii be instructed 20 notify
the American government that we are
prepared to set aside the valuations
which have been considered as the
price asked, and which have been
judged unacceptable, and we offer to
take as a basis of discussion the fig
ures and declarations contained in the
conclusions of the isthmian commits
Slon's report. We shall, moreover, give
our mandatory power to close the dis
cussion by proposing a fixed price. We
| hope this simple categorical offer viii
exercise a favorable influence upon the
future negotiations"
/ NJ. P. FOrot, the former comptroller
general Of the army, and NJ. Bourgeois.
/ the former minister of finance, will re-
place NM. Hutin and Choran.
/ After an uprOarfous session the share
/ holders almost unanimously voted to
adopt the proposition set forth in the
report, empowering the board to con-
clude the sale and concession to the
/ United States of all the Panama Canal
company's properties, subject to the
limitations specified above.
Get the United States to buy the
canal at any price, in order to save
some OF our money" seemed to be the
{ prevalent feeling and gist of the
speeches of the shareholders. About $50
shareholders were present, including a
number Of ladies. In the absence of
NJ. Hutin a shareholder presided. A
storm broke Immediately after the re-
port had been read. The shareholders
were greatly excited by the news that
M. Hutin had resigned, and demanded
explanations Of what had occurred at
the meeting Of the board at which he
+ mad resigned. The chairman's DELAY in
/ replying to questions led to vitupera-
/ tons which were launched at the heads
! OF the directors by several sharehoId-
/ efs' whose modest attitude indicate
{ that they had been severe sufferers on
account Of the Panama failure.
Eventually the proceedings degen-
/ Grated to such a tumuIt that policemen
I were summoned to expel one of the
( noislest shareholders who approached
/ the directors table, thumped il with his
/ INST, yelled at the top of his voice and
/ shook handful of papers in the face
/ Of the chairman.
! The intrusion Of the policemen raised
4 such pandemOnium that they felt COM
/ PEELED to withdraw and the turbulent
| persons subsidized.
! The few speakers who secured 9
hearing urged the adoption of the
/ boards proposals as being the share
! holders only salvation.
/ One speaker said il vas palpably i'm
/ PpoSADAS AJA tie CDlHi lc~L.g 70 IllllSu LUt
| canal, as it could not raise money any
/ where in France or in the rest Of Eu-
rope. He added that a large sharehold-
er, NJ. Bunau-Varilla, who had pub
iished an appeal to the shareholders
and others at the beginning Of the
year, to contribute funds to carry or
the work, secured promises Of only
20O0 francs.
Other speakers appealed to them Il
/ cease the tumuIt as the moment was
! decisive in regard to the fate Of theil
millions.
| Finally the chairman rose and made
/ a statement which soothed his-hearers
/ He said there was no contradiction il
/ the resignation of Hutin and the ex-
pressi0ns of appreciation of his labOrs
/ contained in his report. The board haC
/ considered the situation resulting from
/ the isthmian commissions decision and
had come to the conclusion that &
change of policy was needed.
! They therefore adopted the PROPOSE
ton contained in the report. but as il
was thought that the negotiations viii
the United States might run smoother
/ without NJ Hutin, the latter resigned
The meeting, appeased by this ex
PLANTATION, then approved Of the prop
Do in he