Waterbury Democrat., 1902-07-10

be taken from his house, and died year after the disclosures which made known to the world what is called the great Pan anna scandal.
 The directors of the company were put into the Mazas prison to await trial, but none of them were made to suffer a heavy sentence; a few months of light imprison- ment and then their freedom was restored. Work Accomplished by the old Pan-
 anna Canal Company.
 The cost, or rather the money expended by the company, mounted up to $260,000,000, more than double the first estimates for the finished work. Estimates differ as to the fraction of the canal completed, varying from one-tenth to one-fourth.
 Under the existing contract the com pleted fraction of the canal, with all perma- nent plant, was to revert absolutely to the Colombian government on March 3, 1892, and immediate confiscation was urged. A continuation of the concession, however, was obtained for ten years, provided new company should be organized by February 2S, 1893, with sufficient capital to resume work ''in serious and regular manner.0
 A special commissioner, appointed by the receiver of the old company, reported in regard to the actual value of what had been done~b by the old company thus:
 ''The enormous amount of material at hand ready to be utilized, the great number of works established lands received and to be received, labor actually expended, ex- perience gained, supplies laid in prelim- inaries mapped out, including the right of 900 francs ($90, ,00o,00o)."
 In 1894 the court and those having legal charge of the interests of the old company gave out the following conclusions:
 ''First-That the work actually accom- plished by the old company in the fsthmus was very large, substantial and avail able.
 s.Second--That notwithstanding an inter- regum of four years, the work preVlousiiy accomplished was in satisfactory condl-
 saThird-That the locations occupied and the plant on the isthmus had been well a cared for by the receiver, and were suf- fciemt for the continuation of the work without extensive and expensive prepara-
 "Fourth-That the climatic dangers, the difficulties of the undertaking, ana the cost necessary for It's accoTnplls hmenl, hao been grossly exaggerated.
 The New Canama Canal Company.
 Immediately after the Columbian gov ernment granted an extension of the time of concession stockholders, representing 720000 shares, met in Paris and agreed to subscribe money to begin work again. The new Panama Canal company was constl- tuted in Paris October 2l, 1894, all the property of the old company being sold, con veyed and delivered to the new company The new company was organized with 2 cash capital of 65,Oo0,o00 francs (Sl3, ,OO( actually paid in). Work was at once com | menced, and from 5000 to 4,0o0 laborert have since been a work on the canal.
 The new company caused to be appointed l an international technical commission which is composed of engineers selected from the United States, France, England l Germany, Russia and Colombia. A specia commission presided over by the notA' economist, M. Leroy-Beaulieu, passes Il regard to matters of traffic and concerning l statistical and economic sIl4.-41s.