The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-01-12
The PANAMA AGENT
NJ. LAMPRE BEFORE INTER-
OCEANIC COMMITTEE.
WAS SHARPLY QUESTIONED.
SENATOR MORGAN WAS NOT KIND
TO WITNESS.

Asked Him If Canal Had Not Been
on Bargain Counter Ever since IL
Was ganizcd-BOnded Indebted
ness of Old Company Was $780,
600, 900 Francs-Its Lease From
Colombia Is Only for 90 Years
When Property viii Revert to Co
Iombin-French Government Has
Not Been Consulted as TO Sale OF
Canal.
Washington, Jan. I'm. Lampre,
representing the Panama Canal Com
pany appeared before the Senate Com
mittee on Inter-oceanic cables to-day,
in obedience to the summons of that
committee to testify concerning the af-
fairs of his company, and to offer to
sell its property and franchises to the
United States. M. julie Boeufve of the
French embassy, also was present at
the hearing. The meeting was held
behind closed doors, representatives of
the press being excluded.
M. Lampre was questioned at great
length by the members of the commit
tee. He said that his mission to the
United States had been to ascertain
to whom the proposition for the sale
of the Panama property should be
made. Having informed himself upon
this point he had conferred with Adj
miral Walker chairman of the 18TH
milan Canal Commission, as to the
form of the offer. He then had cabled
to his principals, the result being that
the offer to sell for $40, COG, 900 had been
made from Paris and not by him. He
said, however, that it was his under
standing that the proposal included
both the franchises and the
property of the Panama Company, but
not the money in its treasury, of which
there is about 16000,00O francs. M
Lampre was questioned especially con-
corning the title of the present Pana-
ma Company, several of the committee
expressing doubt as to whether those
now claiming ownership had secured
unreasonable title. He replied that
they had made their purchase through
the liquidator of the old company and
that the transfer was regular. In re-
Spouse TO other questions he said that
in case the transaction should be con-
s1mmated the auaansy WOULD - bel -
trlbuted among the members of the
original company and those of the
present organization by arbitration. He
said that the proffer of his company
had been made in good faith and that
the company was able to deliver the
goods g..
In response to inquiries M. Lampre
he ny had
a. perfect right to sell the property and
that to do so would not infringe upon
the rights of anyone.
Morgan ROasts Witness.
Senator Morgan asked what the cor
poration had been organized for, and
the witness replied that the purpose
was to build a canal The senator then
asked whether an attempt to sell the
canal was not proceeding In bad faith.
NJ Lampre maintained that 1t was not.
He also said that the American Pan
anna Canal Company had been organ
lied in New Jersey for the purpose of
disposing of the property in this coun-
try if possible.
"As matter of fact" said Mr.. Nor
gan, you appear to have had the canal
on the bargain counter ever since the
company was organiZed?
The witness protested to the con-
trary. The fact was developed at the
hearing that the bonded indebtedness
of the old company was 500, 900, 900
francs and also that since the new
company had come into control 1t had
paid 100000 900 francs to the Colombian
government for concessions. 1t was
also shown that the lease from that
government was for ninety-nine years
and that at the end of that time the
property would revert to Colombia.
NJ. Boeufve was asked only whether
the proposition to sell the canal for
$4,000. 900 had been made with the au-
thority of the French government. He
replied in the negative, saying that
that government had no connection
whatever with the transaction.