The Van Buren press., 1902-11-15
Titles to the Panama Canal.
From the Scientific American


The announcement that the titles to
the property of the Panama Canal COM
pany are unquestionably valid marks
another important step toward the COM
pletion of the great waterway through
the Isthmus. 1t will be remembered
that during the final discussion in con-
gress on the question of the respective
merits of the Nicaragua routes, the
point was urgently insisted upon by
Senator Morgan and some OF his associ-
ates that the Panama company could
not possibly give valid title to their
properties. To determine this question,
Attorney General Knox, assisted by
the American legal adviser OF the COM
pany, has been making thorough
search IN Paris of the titles to the
Panama holdings. The latter gentle
man has recently returned to this coun-
try, and he announces that, during six
weeks of consecutive examination, he
prepared and delivered to Attorney
General Knox in Paris every convey
ance, decree, or concession relating 10
the properties of the canal company,
from its inception In 1878 to the present
day. The presentment showed COM
plete chain of title in the new Panama
Canal company, and Its unquestionable
power to convey the canal, plant, con-
ressions to the United States, free OK all
liens or claims of any kind
AS the questions Involved are gov
erned by the law Of France, the Ameri-
can representative of the canal company
submitted his opinion to several OF the
most eminent lawyers of France, among
whom were included to former presi-
dents of the Bar Association of France,
the French counsel for the new Panama
Canal company, the counsel for the
liuuidator Of the old company, all Of
whom are among the leaders of the bar
of France and 1t is gratifying to learn
that without exception these lawyers
delivered opinions fully sustaining the
titles and powers of the company,
With a view to securing further in
dorsement of this opinion, the matter
was submitted to such great authority
as M Waldeck- Rousseau, who has just
resigned the premiership of France to
resume the practice of the legal profess
sion. From him further Endorsement
WAS received In the form Of set of
elaborate opinions, to which was added
his conclusions that the title to the
property is perfect and absolute, and
that the United States will acquire a
complete and valid title thereto, free
from any possible complications from
creditors or stockholders OF the old
company.
Il is q fortunate circumstance that In
February last u bondholder of the old
company raised certain questions de-
signed to interfere with the sale to the
United States. The canal company
boldly met these questions and forced
them to decision which confirmed the
position OF the newPanama Canal CON-
pany and an appeal taken By the de-
feated bondhoder to the court OF appeals
resulted IN the absolute confirmation of
the previous decision, his action merely
serving to secure Judicial approval of
the sale to the United States.
As the matter now stands all ques
tions involved in the transfer are gov
erned by the law Of France, and the
courts of France have finally and con
clusively adjudicated every question In
favor of the new Panama Canal com
pany, 1t Is now only necessary to con-
clude u treaty with Colombia to agree
with the Spooner law. The treaty is
we'll under way, only three or four
points being still under discussion.
With the conclusion of the treaty be
tween this country and Colombia II will
be simple matter for the United States
to protect the strip of land over which
1t will acquire jurisdiction.