Omaha daily bee., 1902-03-01
FRENCHMEN ARE DISPLEASED
Shareholders Of Panama Company Condemn
Colombia United States Deal.
SAYS COMPANY TRANSCRIPTS IT'S RIGHTS
Belief r. Expressed that French Cap
{ Can he Obtained TO
Construct the Panama
Canal.

Construct the PanamR
Canal.
PARIS, Feb. 2s.-At an extraordinary
meeting Of the shareholders Of The. new
Panama Canal company today the presi-
dent read a message from the consul gen.
eral Of Colombia at Paris, setting forth
that the company could not transfer its
concession to- another nation without
the assent Of Colombia. modifying
the stipulation OF articles xxi and xii Of
the agreement. After a discussion, during
which 1t was urged that efforts should be
made to keep the concession for France,
the meeting adopted a resolution express
ing 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.
The dispatch Of the Colombian govern
ment was a complete surprise to the share
holders OF the Panama Canal company,
who met this afternoon in expectation OF
merely rstifying the action Of the board OF
directors in Offering the Panama Canal
company's property to the United States
for $40, 000, 600, which offer was to remain
open until March 4, 1908. and authorizing
the board to carry out all the measures for
the transfer Of the property, and FIX and
accept all modes and terms Of payment
II the United States accepted the offer.
Collapse of Negotiations.
The conformation, therefore. was general
when President Bo read Colombia's tele-
gram 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 $40, 900, 900. He said the Amer
leans we're dallying with the company.
There was no reason why the United States
should not later want the canal property
for $40. 900, 900. Another speaker character
lied the Americans conduct as "hideous
blackmailiDg," saying that IL the Amer
leans bought the canal property they would
make q fine bargain, and why should not
French capital be found to reap the proftsT
other speakers expressed the conviction
that il proper appeal was made the money
to complete the canal could be obtained
in France.
One of the shareholders informed the
meeting that he knew on undeniable au-
thorlty that President Loubet had taken
steps to endeavor to have the canal built
with French money.
Marquis Appeals to Reason
Finally, f.. Marquis. the oficial repre-
sentative Of the shareholders, brought the
meeting to its senses. He reminded his
| hearers that the remarks made were utterly
wide Of the mark. Ali discussion at the
present moment was out OF place and
probably damaging to the company's in
t~erests. The best course was to adjourn
until explanations of Colombia's action were
forthcoming. This proposal was adopted
and the meeting adjourned.
The secretary Of the company, who was
questioned after the adjournment, said the
Telegram arrkheAat.s;So last evening. They
~ w~anrafplain 1t, as it
garding the concession.
The report submitted to the meeting
said;
Everyone who has followed the progress
Of the negotiations has noticed that the
first anxiety of the American government
H Tds To- O Of the old company as Well as
that Of the new company. 1t was therefore
thIe oS 81 riy SE pia tSe Xmer,can soy ver
full security and enabling II to dissipate
definitely the doubts spread by the adver-
integrity of our proprietary rights.
Result of Arbitration.
The report then set forth that arbitra-
ton had resulted in a satisfactory solution
whereby the new company was to receive
$4,000, 900 francs out Of the 207, 000, 900 francs
Of the purchase price and the old company
was to take the remainder.
Then, reviewing the negotiations with the
United States since the offer to sell the
canal property for $40, 0o0, 900, the report
said:
1t now belongs TO the senate to pronounce
on our propositions, which will reach 1t
port. We are persuaded that our PROPOSE
tons will be discussed by this high assem-
such a grave matter. We shall have to
walt some time yet for a, solution, and
nave been o6.r led Srt t9 S SssIsse !. t 1sSa. S Syr cS Smsss
sion usually terminates on that date. The
and the United States, the duration of
which IL uncertain, have rendered IT, i'm
possible to FIX an earlier date we have ave
clusion of the arrangements between Co
lombia and ourselves may take place In
delays will not be unfavorable to us. They
will enable public opinion to better ap-
cision OF the Isthmian commission.
walker Not Alarmed.
rep. zo.-AumlTal walker
, was shown the cablegram from Paris today
regarding the action Of the Panama Canal
company in deciding not to continue the
J negotiations for the sale Of the canal to the
, United States. He said he had received
l no advices on the subject. While the Co
, lomblan government, through it's minister
here, had agreed to the sale of the prop
erty to the United States that sale was
! contingent upon an agreement between the
United States and Colombia. The admiral
! was inclined to think that the news from
Paris was not such as TO interfere seri-
ously with the purchase Of the canal should
this government desire to acquire 1t.
ofhcials Of the Colombian legation ex-
pressed no surprise at the reported action
. Of the company. declaring that the re-
: norted decision of the stockholders is d.