The age-herald., 1902-03-01
Colombia Sends Message h.
 terfGTing With the Plans
CAME AS GREAT SURPRISE.
Some of the Shareholders Get Wrathy and Say the Americans Are Hid eous ckmailers"-Walker
 Says It's Not Serious.

Panama Canal Company today the pres ident read a message from the Consul General of Columbia at Paris setting forth that the company could not transfer its concession to another without first, with the assent of Colombia modifying the stipulation of articles 21 and P of the agreement.
 After a discussion, during which 1t was urged that efforts should be made to keep the concession for France the m eeting adopted resolution expressing approval of the attitude of the board of directors and deciding in view of the message of the Colombian Consul General to postpone entering Into any engagement.
 Was Complete Surprise.
 The dispatch of the Colombian govern ment was a complete surprise to the shareholders of the Panama Canal Com pany who met this afternoon in expecta- tion of mere ratification of the act of the board of directors in offering the Panama Canal Company's property to the United States for s40000,00o which offer was to remain open to March g. 1903, and author izing the board to carry out all the meas
 
 fix and accept all modes and terms of payment if the United States accepted the offer. The consternation, therefore, was general when President Bo read Colom- bias telegram, and a heated discussion broke out. The majority of the speakers concluded that the telegram meant the utter collapse of the negotiations with the United States, and resentment against the United States was expressed One shareholder attacked the United States for beating down the price to s4O,- GOO. He said the Americans were daily ing with the company. There was no req son why the United States should-not later want the canal property for $2O, ,0O0,- | GOO.
 "Hideous BIackm ailines'
 Another speaker charact erized the Americans conduct as "nideous black mailing" saying that if the Americans | bought the canal property they would make a fine bargain and why should not 1 French capital be found to reap the prof it's" Other speakers expressed the con- l viction that If proper appeal was made | the money to complete the canal could be | obtained in France,
 1 One of the shareholders informed the
  thority that President Loubet had taken steps to endeavor to have the canal built | with French money. Finally. M. Marquis. the official repre- | sentative of the shareholders brought the meeting to It's senses. He reminded his | hearers that the remarks made were ut | terly wide of the mark. The best course was to adjourn until explanations of Co., lonblas action were forthcoming. The meeting then edjaurned. The secretary of the company said after adjournment it was thought the Colom- bian and United States governments were in agreement regarding the cession of the concession.
 Not Serious, Says Walker.
 Washington, February 2S. - Admiral Walker when shown the cabegram from Paris regarding the action of the Panama Canal Company, said he thought the news was not such as to interfere serious ly with the purchase of the canal prop erty should this government desire to ac- qure 1t.
 Officials of the Colombian legation ex- pressed no surprise at the reported action of the company, declaring that the re- ported decision of the stockholders is di- rectly in line with the work in which the Colombian government is now engaged that of offsetting the prohibitions con
 
 concession.
 Article 21 provides:
 "The guarantees or those in the future may succeed them in their rights may transfer the rights to other capitalists or financial companies but absolutely pro- hibited to cede or mortgage them under whatever consideration to any nation or foreign government" It is explained that Colombia even now is preparing the terms of an agreement by which the canal company may trans fer its rights to the United States under certain conditions stipulated by Colom- bia.
 Article 22 provides that the grantees or their representatives shall lose the rights acquired in the concession by violation of article 21.
 1t is assumed here that the decision of the company was in the nature of q de- claraton of it's position preparatory to q grant of the privilege of selling out to the United States.