The Montgomery advertiser., 1902-01-07
MAY SELL THE CANAL
PANAMA COMPANY OFFERS TO
 TAKE SAG, 1000, 900.
France Sending an Agent-Possi bility That the United States May Purchase If Clear
 Title is Given.

Walter welIman's Washington Special tc Chicago Record-Herald.
 Forty millions of dollars is the sun which the Panama Canal was today of. fered to the United States Government Tor. The offer came in a cablegram from Paris to Admiral Walker, President oi the Isthmian Canal Commission. The of. fer includes the whole Panama property without reservation.
 There is a chance that this proposition may be accepted by the United States. Ii | will at least receive careful consideration The House may pass the Nicaragua bill but a number of leading Senators are de. termined that the subject shall have care. full consideration before it is disposed oi | in the upper branch. In all probability the isthmian commission will be reassem. bled to consider the new proposition. But President Roosevelt and Admiral Walker | think the commission should now take up the matter and make 2 new recon. | mendation to Congress. Admiral Walker said today:
 \ At last we have forced the Panama Canal Company to talk business. When our commission recommended the Nica- ragua route 1t was in view of the impos- sibility of getting a reasonable offer from the Panama people. We cannot reach any conclusion upon a cabled prop. osition, but M. Lampre, representing the Panama Company, is expected here Mon day. If he comes with proper credentials, with full authority to make binding proposal and offers in writing to sell the Panama property for $4O.00OO00. that will change the whole situation. The commits sion may then wish to make new rec ommendation, and if the President ap- if yvilI he faA ak ~I,, date. But We must first know that the proposal is in proper form. that it con- veys a good title and that all claims are barred by the cooperation of tho French courts"
 Great satisfaction over the offer of the French company was expressed in Gov ernment circles today. Admiral Walker took his cablegram to the State Depart. ment and Secretary Hay carried it to the President. It was decided to await the coming of M. Lampre, to make sure the offer is in proper form There is a feel ing here that Admiral Walker and his as- socates have handled the affair with great skill and business ability. Six weeks ago the French could have had $60. 1000, 900 for their canal and a favorable recommendation from the commission, which would be equivalent to a purchase by Congress. Now they will have to be content with $4000o,O0O, and it is by no means certain that they can get any, thing. Everything will depend upon the action of the commission.
 Your correspondent has the best of reasons for repeating the statement which he made some time ago, that if the French offer is in proper form the commission will change its recommenda- tion from Nicaragua to Panama. It will do so because of the obvious and great superiority of the Panama route. If the commission does change it's recommen- dation, now that the French price has been reduced $69, ,0o0, 000 it is difficult to see how Congress can do anything else than adopt the commissions view.
 Many people have asked why the commission recommended Nicaragua when it knew Panama was the better route. The answer Is very simple. It has already been given in these dis patches and Admiral Walker today con- firmed it. It would have been very fool ish of the commission to recommend pur- chase of a property which was not off, fered to the United States in binding propositions; to "bul'' the price of prop erty which we propose to buy. That would be such a poor business method that no one could expect the commission to adopt it.
 The Panama people appear to have had an impression all along that the commits
 sion were sharp Yankee traders and that they were trying to ''bluf' the for eign concern into accepting a low price, Hence Panama stood out till the last moment. But in the end the Yankees proved to be the better buffers, and they forced the other people to come to their terms. Admiral Walker is being warmly praised for the able manner in which he played his hand In substance the cablegram to Admiral Walker was as follows:
 "The Panama Canal Company declares itself ready to transfer to the Govern ment of the United States, on payment of $400O0,0oo, its properties and concessions. estimated at that amount by the Isth- milan Canal Commission. in conformity with the terms and conditions of the es- inmates of said commission
 Admiral Walker scouts the objection brought forward by Senator Morgan that the United States cannot get good title to the Panama property. He confirms the statement made by the State Depart ment official just quoted. and adds: Senator Morgan appears to be alarmed lest French stockholders come forward with claims against the United States | in case We buy the Panama route. In his negotiations with us, M. Hutin, the | etc President of the Panama Company, said to us in writing:
 " I desire also. MT. President, to con- | firm the fact that our company has the power, in fact as in right, to transfer to the Government of the United States its | concession and its holdings by a legal | and positive title, free of all difficulties and contentious. of whatever nature or from any person whatsoever and particu- , larly from the stockholders or creditors of the old canal company"
 We have no doubt of the correctness of this statement. The sale must be con- firmed by the French courts, which set up bar to all claims whatever. While in Paris the commission investigated this branch of the subject, and if sale Is made of course We shall insist that the French courts join in the transfer. I see , no great difficulties in the way"
 Senator Morgan is furious because the Panama Company has had the audacity to offer to sell its property at the p'ice named by the American commission. MT Hepburn also thinks it very wrong and Droposas tO uo ahead vvith biS hill in tha