The daily morning journal and courier., 1902-03-01
COLOMBIA CAUSES A HITCH
QUESTIONS RIGHT TO IRA RSFER
 CANAL CONCESSION.

Panam. Company Notified That It Can
 not Give Up Its Rights to Anothe,
 Nation Without CoIombia's Consent.
 Shareholders Surprised and Chngrined
 Some Fear Collapse of Negotiation, With United states.
 | Paris, Feb. 28.-At an extraordinary
 meeting of the shareholders of the new
 Panama Canal company to-day Presi' | dent Bo read message from the Con-
 sul General of Colombia at Paris, set 1 ting forth that the company could not transfer it's concession to another na-
 tion without first, with the assent of ] Colombia, modifying the stipulations of
 articles 21 and 22 of the agreement. | After discussion, during which it was urged that efforts should be made l to keep the concession for France, the meeting adopted a resolution expressing approval of the attitude of the board 1 of directors, and deciding, in view of | the message of the Colombian consul | general to postpone entering into any | agreement.
 The dispatch of the Colombian gov | ernment was complete surprise to the shareholders who met this afternoon in expectation of merely ratifying the ac- | ton of the board of directors in offering the Panama Canal company's p1 operty to the United States for $40, 000 GOO, which offer was to remain open until
 March f, 1903, 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 pay
 ments if the United States accepted the
 offer. The consternation, therefore was general when President Bo read
 Colombia's telegram, and a heated dis
 cussion broke out. The majority of the speakers concluded that the telegram meant utter collapse of the negotiations with America and childish resentment against the United States was express ed. Some of the speakers expressed the sudden conviction that if a proper ap- peal was made the money to complete the canal could be obtained lu France.
 One of the shareholders informed the meeting that he knew on undenia bic authority that President Loubet had personally taken steps to endeavor to have the canal built with French money.
 Finally M. Marquis, the official rep resentative of the shareholders, called the meeting to it's senses. The best course, he said, was to adjourn until ex plantations of Columbia's action were forthcoming This proposal was adopt ed and the meeting adjourned.
 The secretary of the company, who was questioned after the adjournment, said that the telegram arrived at 6;30 yesterday evening. They were quite at loss to explain it, for it was thought that the Columbia and United States governments were in agreement regard ing the cession of tn 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 United States was to bind in the same treaty the liquidation of the old company as we'll as that of the new company. It was therefore necessary to place our selves in the position of giving the >lilCi itdh lull security anu enabling it to dissipate definitely the doubts spread by the adversaries of the Panama route regarding the integrity of our proprietary rights"
 In reviewing the negotiations with the United States since the offer to sell the canal property for 10000 000, the report satd
 Tt now belongs to the senate to pro- nounce on our propositions, which will reach it supported by the favorable isthmian report. We are presuaded that our propositions will be discussed by this high assembly with the calm and maturity befltting such a grave matter. We shall have to wait some time yet for solution, and have been led to declare that our offers remain open until March 4, 1903, by considera- tion of the fact that the legislative ses- sion usually terminates on that date. l The negotia tions pending between Co., | lombia and the United States, the dur | ation of which is uncertain have ren- | 1ered it impossible to fix an earlier date | We have reason to believe, however, | that conclusion of the arrangements i between Colombia and ourselves may l take place in the course of the present | year. These delays will not be unfav- )rab1e to us. They will enable public opinion to better appreciate the mo- ives which dictates the decision of the sthmian commission"