Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-01-09
ARE ANXIOUS 10 UNLOAD.
A Definitive Proposition Made By
the French Panama Canal
Company.
OUTFIT OFFERED FOR FORTY MILLIONS
h President VIII Communicate
the Proposition to Congress-, the
Canal Question being Now One
for Legislative Consideration and
Determination.

Washington, Jan. 5.-A formal
proposition to sell the Panama canal
properties to the United States gov
eminent for $1,000, 900 was submitted
to the authorities here. 1t was made
by NJ. Boeufye, representing the COM
pany, to Admiral Walker, as chair
man of the Isthmian canal commits
sion. M. Boeufve acted under cable
instructions received from the Pana-
ma canal officials at Paris. Admiral
Walker brought the proposition to
the knowledge Of the secretary of
state and the president, going direct
ly to the state department for that
purpose.
The submission of this offer car
ries out a plan which has been under
consideration for the last two weeks.
The first step was taken when M.
Hutin retired from the presidency of
the Panama Canal Co. This brought
about an entire change in the man.
agement, the main feature of the
change being that those in authority
desired to make a definite offer of
the Panama properties to this gov
eminent for $4,000, 900. There have
been numerous meetings at Paris
with this end in view, but the one
which brought about the final propo-
sition was held Friday. In substance,
the notification delivered to Admiral
Walker was as follows:
"The Panama Canal Co., declares it.
self ready to transfer to the govern
ment of the United States, on pay
ment of $40, 900 900, it's properties and
concessions estimated at that amount
by the Isthmian canal commission,
in conformity with the terms and
conditions of the estimates of said
commission"
Except to submit the proposition in
the foregoing farms there was no dis
cussion with Admiral Walker as to
what further steps were likely to be
taken except to bring the proposition
to the attention of the secretary of
state and the president.
Admiral Walker called at the state
department at noon and communicat-
ed to Secretary Hay the offer which
M. Boeufve had submitted in behalf
of the canal company. The matter
ySas, soon after, brought to the atten-
lion of the president.
1t a be stated that the president
will communicate the proposition to
congress. This course will be pur-
sued because the administration
holds that the canal question is now
purely one for Legislative determine
tion- and that AS congress is about to
consider the subject it should have
possession of all facts that have
come to the knowledge of the execu'
tive branch.
The offer as made to Admiral Walk
er, and later communicated to the
president and secretary of state, re
fers to the estimates of the Isthmiar
canal commissions report. This
feature of the commissions report
appears under the caption "Tota.
Value of the Panama Canal" and il
as follows:
Summing up the foregoing items
the total value of the property il
found to be: Excavation already
done, $27,474,033; Panama railroad
stock, at par, $6,s5O, 900; maps, draw
ings and records, So, 100000. Tt
which add ten per cent. to cover omis
sions, making the total valuation O.
the Panama canal $4,000 ,OOO."