Omaha daily bee., 1902-03-20
Base Objections on Relations of Company to
France and Colombia. a.
SEE DANGER IN DEAL WITH THIS coNcEN
Fear United States Might Offend Friends Of
Old Company.
MINORITY STANDS BY NEW CORPORATION
UphOIds Its Title and Asserts that II
Has Obtained Requisite Consent
of Colombia to the Sale
of Property.

WASHINGTON. March Ex-senator Nor
gan, from the committee on isthmian ca
mails, today presented to the senate the ma
5ority and minority reports OF that com
mittee on the question Of the validity Of
the title Of the new Panama Canal COM
pany and its right to transfer the Panama
canal property TO the United States for
t4O,oO0OOO. The objections Of the majority
TO the title held by that company are
largely on the relations OF the canal
company to the governments of France and
Colombia, but the committee also discusses
at length many other phases Of the ques-
tion.
Among these is the relation Of the share
holders, who subscribed $3.50. 900 to the
old Panama company, whose interests. the
report holds. cannot be lightly regarded.
On this point the report says:
The spectacle of the United States con-
gress authorizing the president, AS the
agent of our government, to conduct a
Panama % " company) Sp Without Without consulting s ting
France as to the claim of independence II
$the ,s new Panama company asserts, will
and its consequences cannot be lightly dis
regarded.
Danger of ENHANCEMENT.
Among these is the serious danger of the
United States being drawn into disagree
body of the worthy people OF France, whose
friendship for us has been cherished dur
ing the entire life OF our republic, and had
its origin in magnanlmous sacrifices for
our country when this government was In
reeor of tRe Gr ITS cans
reveals the fact that the men who make
this offer are chief among those who de-
OF S25O.OO0,OOO.
Speaking further of the obligations Of the
new company to the old. the majority say:
If Mr. EifeIl and his associates get S4O,-
TSst tbev are % sbsiteraS frnpn ne nIaIT,s 81
these defrauded and despoiled bondholders
and stockholders by the alleged despotisrn
OF French courts They would never escape
Compelled to account for every dollar of
the money TO me pondholoers and to the
81 n 10 the profits of thelr speeiistions '
Minority UNFOLD New Compnny.
49, -.
49,
e.nA'or n'"euse' oonpie'eH .pnolus
tne u.Ie ol ,ne new rshana oanai com
peny' as mn, pe ssen run 'a 'ne ,oiiowins ls
eAHsoS which CONSTITUTES sieS oPenins para
siAPn'
Inc tue OF tne new panama company
pears from the facts and documehts which
have been laid before the subcommittee
snn ana Is eiear ana ,f Isee irom I'm any Sompnca a
The United States the consent Of Colombia
is requisite, but this consent has been given
by the government OF that country as fully
as II can be given. In case OF purchase of
the canal by the United states dinerent
concessions ana .dlnerent rights must be
obtained by the treaty between this coun,
Try ana ,Eoiqmnis: ana snch already would
necessarily involve a consent TO the sale
oy the company OF its Tlgnts ana properly
on tne lstnmus 70 tne Enlteo Ststes. sucn
treaty Coionpla mas SHOWN ana ueclareo
lts IeaulneeS 70 MAKE. On every ,olne, Polnt
the rlkht OF tne new fanama CanaI com,
Rany 70 transIeT, its properly 10 tne United
etates ls perleGiuy ciear Every nnK IN tne
Snnln cnrn pl a ZANE IN ndps,,ta ~ 'He ne
SourSe GOV py yrei mnen - Sane a IN oi PosLeoh 20
sen It's PropeIty' Tree ana ciear' Is piain
and satisfactory.
OLD Company Deals Fairly.
The report then reviews the entire or
iRiu and history of the Panama canal COM
..,,--o-a "a. a.. az, eaI-. =, a. -,
p1ny anu MUS tn3e sne anails ot tne olu
company were disposed OF by French
court In n straiRhtforward way when that
--.a,, ho.ov,o ,-.aI,... "a a.. -
company peoame tnsoNen'' anu tnal tue
court had perfect right, not only to ap-
,,ot,t n 1touidator and recatvar hut 70 con