The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-12-22
Shareholders of Panama Canal
Company Want to Get As Much
of Their Money Back As is Pos
SibIe
STORMY MEETING HELD
POLICE TAKE A HAND
President Hutin and Director Of
Works Choron Resign Their Of
fees at Meeting of Board of
Directors Which Preceded
Shareholders Meeting


Paris, Dec. 21.-At a meeting of the
directors of the Panama Canal Co,
President Hutin, who recently re-
turned 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 Co.. here, today, re-
views the negotiations for the sale of
the canal property to the United States
and says;
THE decision of the Isthmian COM
mission was evidently due to a misun-
Outstanding 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
figure upon which the representatives
of the American government agreed
and the mandatory to whom we shall
entrust the continuance of the negotia-
tons.
Our negotiator will be instructed to
notify the American government that
we are prepared to set aside the valu-
atoms which have been considered as
| the price asked and which have been
| Judged unacceptable, and we offer to
| take as a basis and point of departure
| of the discussion we solicit, and which
| We believe will not be refused, the fig
ures and declarations contained in the
| conclusions of the Isthmian commits
sion'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 will
| exercise favorable influence upon the
! future negotiations.
| We regret that M. Hutin and M.
| Choron have separated themselves
| from us, in this question, by their re-
! signations, which have been accepted
| We deeply relied on their counsel
which we shall retain as a souvenir of
| their knowledge and devotion. M p
Forot,. the former comptroller-g general
| of the army, and NJ. Bourgeois, the
| former receiver of finance, will replace
! them"
| After an uproarious session, the
| shareholders, almost unanimously
voted to adopt the proposition set forth
| in the report. empowering the board to
conclude the sale and cession to the
! United States of America all the Pana-
ma Canal Companys properties, sub
| tect to submitting for the approval OF
! general meeting the purchase price
| on which the representatives of The
United States and the company's man
| datory shall agree.
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 at the meeting Of the share
| holders, which followed the directors
| meeting. About $50 shareholders were
| present, including a number of ladies
! In the absence of NJ. Hutin, a share
! holder presided A storm broke i'm
mediateiy after the report had been
| read. The shareholders were greatly
excited by the news that NJ. Hutin hac
resigned and demanded explanations OF
what had occurred at the meeting OF
| the board at which he had resigned.
The chairmans delay in replying tc
questions led to vituperations, which
were launched at the heads of the di-
rectors by several shareholders. Event
ually, the proceedings degenerated into
such a tumult that policemen Were
summoned to eXpel one of the noisiesl
! shareholders. The intrusion Of the
| policemen raised such pandemonium
! that they FASTENED to withdraw and the
delinQuents presided.
! The speakers who secured hearing
urged the adoption of the boards pro-
! posals as being the shareholders only
salvation. One speaker said it was
| paIpably impossible for the company to
| finish the canal, as it could not raise
money anywhere. Finally. the chair
man rose and made statement which
soothed his hearers. He said there was
no contradiction in the resignation of
Hutin and the expressions of apprecia-
ton of his labors contained in his re-
port. The board had considered 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 that the
negotiations with the United States
might run smoother without NJ. Hutin,
the latter resigned.
The meeting, appeased by this eX-
PLANTATION, then approved of the propo-
sition made in the report.