The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-01-04
Panama Canal Company Will
Offer Entire Property
To President Roosevelt For
$4O,OOO,OO0.
RAILROAD INCLUDED.
Nothing Will Be Reserved of
COmpany's Plant.
Decision Is Cabled to Their
Agent in Washington.

Paris, Jan 4.-The directors of the
Panama Canal company. with President
Bo in the chair, met at the company's
offices today and after a brief session
came to a definite decision to offer to sell
the canal property to the United States
for $40.O00,000 This price includes the
excavations, canal. railroad, machinery
and all other items specified in the
isthmian commissions report The COM
pany's representative at Washington.
NJ. Bevy, received a cable message to-
day fnstructing him to formally submit
this offer to the president.
OFFICIALLY SUBMITTED.
Washington, Jan. 4.-Acting on cable
instructions from Paris NJ. Boufve to-
day formally notified Admiral Walker,
chairman Of the Isthmian canal com
mission that the Panama Canal COM
pany declares itself ready to. transfer
to the government of the United States
on the payment of $4O,O00000 it's proper
ties and concessions connected with the
Panama route across the isthmus.
Admiral Walker has submitted the
question to the state department
WILL GO TO CONGRESS.
Washington, Jan. A formal propo-
sition to sell the Panama canal proper
ties to the United States government
for $40,000,000 today was submitted to
the authorities here. 1t was made by
M. Boeufve, representing the company.
to Admiral Walker, as chairman of the
Isthmian canal commission. NJ. Bouefve
acted under cable instructions received
today from the Panama canal officials
at Paris. Admiral Walker brought the
proposition to the knowledge OF the sec
retary of state and the president going
directly to the state department for
that purpose.
The submission of this offer carries
out a plan which has been under CON
sideration for the last two weeks. The
first step was taken by NJ. Hutin when
he retired from the presidency of the
Panama Canal company. This brought
about entire change in the manage
ment, the main feature of the change
being that those in authority desired to
make definite offer of the Panama
properties to this government for $40
100000 There have been numerous
meetings at Paris with this end in
view, but the one which brought about
the final proposition was held yester-
day.
It had been the intention to make the
offer through Mr. Edward Lampre, sec
retary general of the company, who Is
due to arrive at New York on the
steamer L'Aquitain tomorrow; but the
meeting appears to have taken a view
that the offer should be made without
waiting for the arrival of Mr.. EfInR pre-.
Accordingly the cable Instructions were
forwarded to NJ. Rouefve. He went at
once to the Office of the isthmian canal
commission and advised Admiral Walk
of what had been the determination
of the company In substance the noti-
fication delivered to Admiral Walker
was as follows:
THE Panama Canal company de-
clares itself ready to transfer to the
government of the United States on
payment of $40,O 900 its properties and
concessions, estimated at that amount
by the isthmian canal commission, in
conformity with the terms and condi-
tions of the estimates of said commits
sion"
Except to submit the proposition in
the foregoing terms there was no dis
cussion with Admiral Walker as to what
further steps were likely to be taken
except to bring the proposition to the
attention of the secretary of state and
the president
Admiral Walker called at the state
department at noon and communicated
to Secretary Hay the offer which NJ.
Bouefve had submitted in behalf of the
canal company. The matter was soon
after brought to the attention of the
president.
1t can be stated that the president
will comm unicate the proposition to
congress. This course will be pursued
because the admins stration holds that
the canal question is now purely one
for legislative determination and that
as congress is about to consider the
subject, it should have possession of all
facts that have come to the executive
branch.
The offer as made to Admiral Walker
and later communicated to the presi-
dent and secretary of state refers to
the estimate of isthmian commissions
report This feature of the commits
sion's report appears under the cap
ton Total Value of the Panama
Canal and is as follows:
Summing up the foregoing items, the
total value of the property is found to
be: Excavation already done, $27,474,
O33; Panama railroad stock at par,
sc, $50 900; n APPS, drawings and records,
81 0OO, 600. To which add 10 per cent to
cover omissions. making the total val
uation of the Panama canal $4,000, ,000.'