Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-02
DIR. LEATHERMAN,
COURT ACTS ON PANAMA.
Title of Present Canal Owners Upheld
in France

The New York Tribune of today says:
William Nelson Cromwell, general counsel
for the new Panama Canal Company. who
returned on Tuesday from Paris. told yes
terday of the steps taken to show that the
present Panama Canal Company has clear
title and can without question sell its
rights to this country. He said in part:
During the last six weeks of consecutive
examination. I prepared and delivered to
Attorney General Knox, In Paris, and to
his special assistant, Mr.. Russell, every
conveyance decree, concession or other
document relating to the properties of the
new Panama Canal Company. from Its in
ception in 1878 to this hour. showing a COM
plete and perfect chain Of title in the new
Panama Canal Company and its unquestio
able power to convey the canal. the plant,
concessions and other property to the United
States, free and clear of all Hens or claims
of any kind.
Believing that it would be a satisfaction
to this government to also have the opinion
of such a great authority as NJ. Waldeck-
Rousseau, whose pre-eminent position In
France Is universally acknowledged. and
who has just resigned the premiership Of
France to resume the practice Of his pro-
fesSion In which he has no superior. and
realizing that he would view the whole SUBJ
ject in a statesmanlike as well lawyer
like manner / submitted all the documents
and questions to him, and have received his
elaborate opinions, indorsing by his sigma
ture the opinion which We had delivered to
this government, and. in addition, given his
conclusions that the title to the property Is
perfect and absolute, and that the United
States will acquire complete and valid
title thereto free from any possible comph
cations from creditors or stockholders OF
the old company. This opinion l shall also
deliver in a few days to the Attorney GEN
eral.
While the titles of the company needed
no confirmation 1T is an unfortunate cir
cumstance that in February last bond
holder of the old company raised certain
questions in the course of the liquidation Of
the old company designed to interfere with
the contamination of the sale to the United
States. The company, the iqudator and
the representative of the bandholder boldly
met these questions. and forced them to a
decision, that since the passage Of the
Spooner law the civil tribunal of the Seine
on July last rendered decision confirm
ing the position of the new Panama Canal
Company and adjudging that the bond
holders of the old company were conc.u-
sively bound by the preceding DEGREES of
the court An appeal taken by the de-
feated bondholder to the court of appeals
before which the question was argued dur
ing my visit. and on August a decision
was rendered in absolute confirmation Of
the previous decision. The defeated bond
holder has abandoned further contest. Thus
the proposed sale to the United States has
been judcally approved.
But all questions become mere Idle dis
cuSSion in the face of the fact that the con-
veyance of the new Panama Canal Com
pany will be supplemented by the official
concurrence of the liquidator of the old
company and by the representative of the
bondhoders of the old company, who have
been fully authorized by decree of the court
to grant such concurrence. Thus there Is
left no one to question the conveyance