The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-22
sensational Meeting of Shareholders
at Which vi. Hutin rendered
His Resignation.
TUMULT MARKED THE SESSION
AND POLICEMEN WERE CALLED IN
TO PRESERVE ORDER.
"Sen at Any Price, and Save Part
of the Sunken Money, Was the
Prevailing Sentiment.

PARIS, Dec. 21.-At a meeting of the
board of directors OF the Panama Canal
Company Thursday President Hutin, who
recently returned here from the United
States, and NJ Choron, the director Of
works, resigned their offices. The report
presented at the general meeting of the
shareholders of the Panama Canal Com
pany here this afternoon reviews the ne
EQUATIONS for the sale of the canal prop
erty to the United States and says:
The decision of the isthmiaT commits
sion was evidently due to a misunder-
standing which must be dissipated. We
shaH ask you to give us full power to
negotiate with the government of the Unit
ed States, under the reserve of submitting
Tor your approval the figure upon which
the representatives OF the American gov
eminent agreed and the mandatory to
whom we shall intrust the continuance of
the negotiations. Our negotiators will be
instructed to notify the American govern
ment that we are prepared to set aside
the valuations which nave been considered
as the price asked. and which have been
judged unacceptable, and we offer to take
as d oasis ana point of departure of the
discussion We solicit and which we believe
Will not be refused, the figures and de-
claratlons contained In the conclusions of
the lsthmian commissioners report. We
shall. moreover, give our mandatory power
to close the discussion by proposing to
fix a price. We hope this simple, categori-
cal oner Will exercise a favorable influence
upon the future negotiations.
w regret that NM. Hutin and Choron
nave separated themselves from us, i'm this
question, by their designations. which have
been accepted. We deeply relied on their
council, which we shall retain as a souve-
mir of their knowledge and devotion. M.
p. Forot, the former controller general of
the army, and NJ. Bourgeois, the former
receiver of finance. will replace them"
After an uproariOus session the share
holders, almost unanimously, voted to
adopt the proposition set forth in the re-
port empowering the board to conclude
the sale and cession to the United States
of all the French Panama Canal Com
panys properties, subject to the limita-
tionS 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 feel
meeting of the Panama Canal Company's
shareholders. About go shareholders were
present, including a number of ladies. In
the absence of M. Hutin, a shareholder
presided. a storm broke Immediately after
the report had been read. The sharehold-
ers were greatly excited by the news that
Nj. Hutin had resigned and demanded ex-
plantations of what had occurred at the
meeting of the board at which he had re-
signed. The chairman's delay i'm replying
to questions led to vituperations, which
were launched at the heads of the directors
by several shareholders whose modest at
tire indicated that they had been severe
sufferers on account of Panama failure.
Eventually the proceedings degenerated
into such a tumult that policemen were
to expel one of the noisiest of
the shareholders who approached the direc-
tors table, thumped it with his fist, yelled
at the top of his voice and shook a hand
full OF papers in the face of the chairman.
The intrusion of the policemen raised such
pandemonium that they felt compelled to
withdraw, and the delinquent subsidized.
The few speakers who secured a hearing
urged the adoption of the boards pro-
posaIs, as being the shareholders only
salvation. One speaker said it was palpa-
bly, impossible for the company to finish
the canal, as it could not raise money
Europe. He added that a large sharehOld-
er, NJ. Bunau-Varilla, who had published
an appeal to the shareholders and others
at the beginning of the year, TO contribute
funds to carry on the work. only secured
promises of 100000 francs. Other speakers
appealed to the meeting to cease the
tumult as the moment was decisive in re-
gard to the fate of their many millions.
Finally the chairman arose and made a
statement which soothed his hearers. He
said there was no contradiction of the
resignation of NJ. Hutin and the express
sions of appreciation of his labors con-
tanned in his report. The board had con-
sidered the situation resulting from the
isthmian commissioners decision and had
come to the conclusion that a change of
policy was needed. They therefore made
the proposition contained in the report.
but as it was thought the negotiations
er without M. Hutin, the later resigned.
The meeting, appeased by this explanation,
then approved of the proposition made in
the report.