New-York tribune., 1901-12-22
WOULD SELL AT ANY PRICE,
srop>y MEETING, OF SHAREHOLDERS
OF THE PANAMA CANAL COM
PANY IN PARIS.

Paris Dec 21-At a meeting of the board OF
directors Of the Panama Canal Company on
Thursday President Hutin, who recehuE ie
turned from the United States. and NJ Choroh'
the director of works, resigned their orhces-
The report presented at the general meeting
of the shareholders of the Panama Canal Coih-
pany here this afternoon reviews the neeotia-
tions for the sale of the canal property TO the
United States, and says:
Tho decision of the Isthmian Commission was
evidently due to a misunderstanding which must
b. dissipated. We shall ask you 10 give US Iuil L
powers to negotiate with the government OF che
United States under the reserve OIL ,i +h
for your approval the figure upon Whlch tLe
representatives of the American roN ii,,'e ~
agreed and the mandatory 10 Whofn we Shdli n III
trust the continuance of the negotiations. our
negotiator will be instructed to give notlce 10
the American Government that we are prepared
to set aside the valuations which have been CON
sidered as the price asked, and which nave peeh
Judged unacceptable. and we of1er 10 take dS d
basis and point of departure of the discussion
we solicit. and which we believe VIII not per- De re-
fused the figures and declarations contained
in the conclusions of the Isthmian Commlsslon s.n
report We shall. moreover, give our mandatarY
power to close the discussion by proposing
fixed price. We hope this simple. categorlcal
offer will exercise favorable influence upon the
future negotiations.
we regret that NM. Hutin and Choron have
separated themselves fTUin US. in this question:
by their designations. which have been accepted
We deeply relied their counsel. Wnlch we
shall retain as a souvenir of their knoWiedge
and devotion. NJ. p FOrot, the FORMER COiI-
troller General of the army. and NJ. Bourgeois.
the former Receiver of Finances, will replace
them.
After an uproarious session the shareholders
almost unanimously voted to adopt the PROPOSE
ton set forth in the report empowering the
hoard to conclude the sale ana cessloh
70 the United States of all the Panama
Canal Companys properties. subject to submit
ting for the approval of a general meeting the
{ yvbj no
the United States and the company 9 mandatary
shall agree.
Get the United States to buy the canal. at
any price In order to some of our money
seemed to be the prevalent feeling and gist OF
the speeches at to-days meeting OF the snare
I holders About two hundred and fifty share
holders were present including number OF
women In the absence of NJ Hutin share
holder presfded A storm broke Immediately
/ after the report had been read. The share
holders were greatly excited by the news thai
/ = Hutfn had resigned and demanded explana-
! tions of what had occurred at the meeting OF the
| board at which he had resigned. and the chair
! mans delay in replying tc questions led to
| vtupera tions which were launched at the headS
| of the directors by several shareholders. whose
modest attire indicated that they had been
severe sufferers on account of the Panama
! failure.
! Eventually the proceedings ueSeHeIdteH Ih1O
! such a tumult that policemen were summoned
| To expe one of the noisiest of the shareholders
| who approached the directors table, thumped 1t
with his fist yelled al the top of his voice ana
shook a handful of papers in the face OF the
chairman The intrusion of the policemen raised
such a pandemonium that they felt compelled
to withdraw and the delinquent subsided-
The few speakers who secured a hearing urged
the adoption of the boards proposals as nelnS
| the shareholders only salvation. One speaker
said 1t was palpably impossible for the company
| to finish the canal. it could not raise money
| anywhere in France or in the rest OF Europe
| He added that a large shareholder NJ. Bunau-
| Varilla who had published an appeal to the
i shareholders and others the beginning of the
| wear TO contribute funds carry on the work
| onlv secured promises of 100000 francs.
! Other speakers appealed to the meeting tC
cease the tumult. the moment was decisive
| in regard to the fate of their many millions.
| Finally the chairman rose and made a state
ment which soothed his hearers. He said there
was no contradiction in the resignation of Hutir
and the expressions of appreciation of his la
boIs contained in his report. The board had
considered the situation resulting from the
Isthmian Commissioners decision, and had come
| to the conclusion that change of policy was
needed. They therefore made the proposition
contained in the report: but, 1t was thought
that the negotiations with the United States
might run smoother without NJ. Hutin. the lat
ter resigned.
The meeting, appeased by this explanation
then approved of the proposition made in the
| report