The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-03-20
TWO DIVERSE VIEWS
OPPOSING REPORTS ON THE PAN
ANA CANAL TITLE.
Mr.. MoReAN'S RATHER SALTY.
GOES INTO HISTORY OF THE OLD
PANAMA COMPANY.

charges That Men Who Now Make
the OFFER TO This Government Are
chief Among chose Who Defraud-
cd the People of France of $780,
O0OOOO-WOuId BE Sheltered From
Their DespOiIed COuntrymen by
the ..AIIeged DespOtism of French
Courtsy-MinOrity Report Says
Panama Title Is All Right.
washington, March Ex-senator Nor
ran. from the Committee on Isthmian
Canals, to-day presented to the Senate
the majority and minority reports of
that committee on the question of the
validity of the title of the New Pana
ma Canal Company and its right to
transfer the Panama canal property to
the United States for $40000,000.
The objections of the majority to
the title held by that company are
based largely upon the relations of the
canal company to the governments of
France and Colombia, but the commit
tee also discussed at length many other
phases of the question. Among these
Is the relation of the shareholders who
subscribed $780, 900 to the old Pana-
ma Company, whose interests, the re-
port holds, cannot be lightly regarded
On this point the report says:
1.-THE spectacle of the United States
Congress authorizing the President, as
the agent of our government, to con-
duct a trade with such a corporation
without consulting France as to the
claim of independence, it Ghe New
Panama Company asserts, will be en-
tirely new in the history of nations and
its consequences cannot be lightly dis
regarded.
Among these is the serious danger
of the United States being drawn into
disagreeable relations with a large and
influential body of the worthy people
of France, whose friendship for us has
been cherished during the entire life
of our republic, and had its origin in
magnanimous sacrifices for our coun-
try when this government was in the
travail of It's birth. Unfortunately, the
report of the Isthmian Canal Commits
sion reveals the fact that the men who
make us this offer are chief among
those who defrauded these six or eight
hundred thousand Frenchmen of $780,
coo, 600"
would Be Different Here.
Speaking further of the obligations
OF the new company to the old, the
majority say: 50
If MIR. EifelI and his associates get
10000, 600 from the American people it
is well that they are sheltered from
the claims of these defrauded and de-
spoiled bondholders and stockholders
by the alleged despotism of French
courts. They would never escape JUS
tice in American courts and would be
compelled to account for every dollar
of the money to the bondholders and
to the stocks bearing interest, before
applying any of it TO the profits of
their speculation"
The Panama Title Upheld.
The minority report, which was pre-
pared by Senator Kittredge, complete
ly upholds the title of the New Pam
anna Company, as will be seen from
the following extract which conSti-
tutes its opening paragraph:
The title of the New Panama Com
pany to its concessions and other
property appears from the facts and
documents which have been laid be-
fore the sub committee, and is clear
anu iICC lAOlI ally COAupllOdIlOAS. Il Va
transfer of it's concessions to the
United States the consent of Column
bia is requisite, but this consent has
been given by the government of that
country as fully as it can now be Civ
en-. In case of purchase of the canal
by the United States, different con-
cessions and different rights must be
obtained by treaty between this coun-
Try and Colombia, and such a treaty
would necessarily involve a consent to
the sale by the company of it's rights
and property on the isthmus to
the United States. Such a treaty CO.
lombia has shown and declared it's
readiness to make. On every other
point the right of the New Panama
Canal Company to transfer its prop
erty to the United States is perfectly
clear. Every link in the chain of its
tltle and every step in the course by
which it became in a position to sell
Its property, free and clear, is plain
and satisfactory"
The minority also finds that the af-
1aiTs of the old company were dispos-
ed of by a French court in a straight
forward way when that company be-
came insolvent and that the court had
a perfect right not only to appoint a
hqufdator or receiver but to confer
upon him, as was done, power ito
grant or contribute to any new COM
pany all or part of the corporate as
sets.