Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-01-25
PROBE PANAMA SCHEME
LAMPRE PUT THROUGH
SEARCHING QUESTIONS
Senate Committee Testing Commences
of Proposal to Sell for $4,000
OOO-- Claim of Colombia
on Canal.

Washington, Jan. I'm Eduard
Lampre, representing the Panama Ca.
nal Company, appeared before the Sem
ate Committee on InteroCeanic Canals
today in obedience to the summons Of
that committee to testify concerning
the offer of his company to sell its
property and franchises to the United
States. NJ. Jules Bouefve of the French
Embassy also was present at the hear
ing. The meeting was held behind
closed doors, representatives Of the
press being excluded.
NJ. Lampre was questioned at great
length by the members of the commit
tee. He said his mission to the United
States had been to ascertain to whom
the proposition for the sale of the Pa
mama property should be made Hav'
Ing Informed himself upon this point
he had conferred with Admiral Walker
chairman Of the Isthmian Canal Com
mission, as to the form Of the offer
He then cabled to hfs principals. the re.
suit being that the offer to sell for
$40, 200, 900 had been made directly from
Paris and not by him. He said how.
ever, that it was his understanding that
the proposal included both the fran.
chises and the property of the Panama
company. but not the money In its
treasury OF which there is about l6O,.
900, 900 francs.
NJ. Lampre was questioned especially
concerning the title Of the present Pa
mama company, several members Of
the committee expressing doubt as &c
whether those now claiming ownership
had secured unuuestionable title. HI
replied that they had made their pur
chase through the liquidator of the ole
company and that the transfer wal
regular. In response to other question!
he said that in case the transaction
should be contaminated the money
would be distributed among the mem
bers of the original company and thos,
Of the present organization by arbitra
ton. He said the proffer had beef
made in good faith and that the com
pany was able to deliver the goods.
In response to inquiries NJ Lamprr
contended that the new company haC
perfect right to sell the property. anC
that to do so would not infringe upoI
the rights OF any one.
Senator Morgan asked what the cor
| poration had been organized for. an,
the witness replied that the purpOs
was to build a canal The Senator thel
asked whether any attempt to sell tn
canal was not a proceeding in bad faith
NJ. Lampre maintained that II was not
| He also said that the American Pana
ma Canal Company had been organize,
In New Jersey for the purpose of dis
posing of the property in this countr,
II possible.
"As a matter of fact" said Morgan
you appear to have had the canal OF
the bargain counter ever since tn,
company was organized"
The witness protested to the con
trary. He also said that the old lotter,
scheme was still in existence. The com
pany had abandoned all idea of a sea
level canak The French law, he said
could not prevent transfer of the ca
nal to the United States. as the cana
company was perfectly Independent
concern.
The fact was developed at the hear
ing that the bonded Indebtedness of thu
old company was 3OO,OOO.OOO francs
and also that since the new company
had come into control II had paid -,
100000 francs to the Colombian Gov,
eminent for concessions. 1t was also
shown that the lease from that Govern
ment was for ninety-nine years, ant
at the end Of that time the property
would revert to Colombia.
NJ. Lampre was questioned at Length
about the Panama Railroad, but sale
he knew little or nothing about its az
fairs.
NJ. Bouefve was asked only whether
the proposition to sell the canal FOL
$40 900. 900 had been made with the au
thority Of the French Government. II,
replied in the negative, saying tha
that Government had no connection
whatever with the transaction.