The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-12-31

500 ili. 500
This IL. Of course, a greatly inflated
valuation, and most of the items either
dwindle or disappear altogether upon
scrutiny. For example, the onoes-
sions held by the first French company
and its SUCCESSORS have no market value.
as the United States would be obliged
10 procure a new concession FROM CO.
Iombla. In the estimate OF value Of
work already done there il included
a vast amount Of machinery and imple-
ments, old OF no adopted to present
American methods Of canal construc-
ton. The title to the lands included
in the schedule, il we are right. does
not pass 10 the company until the canal
10 completed. There are other doubt
ful items accounting for the difference
between the French c~ompany's valua-
ton OF siO9, l4l 800 and our Commits
sion's estimate Of $500 n. 900.
But EVER this inflated valuation Of si0e.-
ili, 500 was not at first a definite offer 20
sell NJ that price; for il was tied up with
a claim for a share Of the future profits
Of the completed canal. or a lump sum
in advance oapitslizing these future
profits. The lsthmian Commission
stood stiff against this preposterous
claim, and on November ? Monsieur
HrrIS relinquished II with the remark
that this surrender constitutes IN our
par, an act of Cancellation which must
be taken into account during the dis
cussion 81 our other propositions
Now. II IL only three years since the
literature put forth By the New Panama
Canal Company ~ the interest II a sale
90 the United States dwelt. somewhat
vaguely Il - true, upon tl5a. go .OO0 IA
the cash value II their property
A. the san. time the French estimate
~ the cu-, ~ completion. under the
plans adopted, Was go? .p1.OJO
our lsthmian Commissions estimate
- tho oost q completion IL ga, 81. SIS
Tho fact Il main importance, ~ far
a. unoerbs ths thorough, CAREFUL and
oumprrh.nsly- invest CATION u the tao
rouiss by iS-aT Admiral NAIAEh and
M As-oolAios IL that tho Commissions
dist lnst recommendation ~ ,is NloA-
us,IA route ~ prrfaf..ins 10 tho psnsina
route sas bAssd Silely on tls fA.luTs
Ca obtain from tlr tr-hoh oomIsany
any uhrf iSi;sf tiiha tiu i.l bs fH
~ tfutsr5 sHd f.slts That pro
Is,sd a.mtsh.stp,n pli il,s estimated
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rui ~ la5tl0. 10 ab1sr ths estimated
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