The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-05
Formally Submits a Proposition to the
It's Representative, Nj. Boeufve.
MATTER RESTS WITH CONGRESS
PRESIDENT WILL TRANSMIT THE
OFFER TO THE HOUSE SOON.
Forty Millions the Value of the Prop
States Isthmian Commission.

PARIS. Jan. 4.-The directors of the
Panama Canal Company, with President Bo
in the chair. met to-day and came to
definite decision to offer to sell the canal
property to the United States for s4O,O0O,OOO
This price includes the excavations, canal,
railroad. machinery and all the other items
specified in the isthmian commissions re-
port. The company's representative at
Washington. NJ. Boeufve. received a cable
message to-day, instructing him to formally
submit this offer to the President.
WASHINGTON. Jan. A formal propo-
siton to sell the Panama canal properties
was submitted to the authorities. 1t was
made by NJ. Boeufve. representing the COM
pany, to Admiral Walker, as chairman of
the isthmian canal commission. NJ. Boeufve
acted under cable instructions received to-
day from the Panama canal officials at
Paris. Admiral Walker brought the propo-
sition to the knowledge of the secretary of
state and the President, going directly to
the State Department for that purpose.
The submission Of this offer carries out
plan which has been under consideration for
the last two weeks. The first step was taken
when NJ. Hutin retired from the presidency
of the Panama Canal Company. This
brought about entire change in the man.
agement, the main feature of the change
being that those in authority desired TO
make definite offer of the Panama prop
critics to this government for $4,000, ,0O0
There have been numerous meetings at
Paris with this end in view, but the one
which brought about the final proposition
was held to-day. It had been the intention
to make the offer through NJ Edward
Lampre, secretary general of the company
who is due to arrive at New York on the
steamer L'Aquitaine tomorrow; but the
meeting appears TO have taken a view that
the offer should be made without waiting
for the arrival of NJ. L.ampre. Accordingly
the cable instructions were forwarded TO
NJ. Boeufve He went at once TO the office
of the isthmian canal commission and ad-
vised Admiral Walker of what had been
the determination of the company.
In substance the notification delivered to
Admiral Walker was as follows: "The
Panama Canal Company declares itself
ready to transfer to the government of the
United States on payment of 10000 900 It's
properties and concessions, estimated at
that amount by the isthmian canal commits
sion. in conformity with the terms and
conditions of the estimates of said COM
mission"
Except to submit the proposition in the
foregoing terms there was no discussion
with Admiral Walker as TO what further
steps were likely 10 be taken except to
bring the proposition to the attention of
the secretary of state and the President
Admiral Walker called at the State De-
partmeut at noon and communicated 10
Secretary Hay the offer which NJ Boeufve
had submitted in behalf OF the canal COM
pany. The matter was soon after brought
TO the attention of the President. Ii can
be stated that the President. will com
municate the proposition To Congress This
course will be pursued because the admins
tration holds that the canal question is
now purely one for legislative determine
ton and that as Congress is about 10 con-