The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-31
PANAMA CANAL COMPANY
IN SESSION At PARIS
Report of Management Decisively
Adopted, After Some Disorder
by a Small Faction.
SPEAKERS ARE. HOOTED
Opponents of American Suprem-
acy Poll Less than 1 IL Per
Cent. of the Votes Cast.

PARIS, Dec. Glowing to the recent
events at Panama. the annual meeting of
the Panama Canal Company, which began
at o'clock this afternoon, developed un-
usual interest and excitement. Prior to the
opening efforts were made to secure enough
proxies to overrule the existing manage
ment of the company, which is favorable
to the sale of the companys property to
the United States. The meeting took place
in the Hall of Agriculture. which was
crowded with officials, stockholders and
prominent financiers.
At the opening of the meeting the man
agement submitted report of the recent
events on the isthmus, and the course taken
by the company. The report set forth that
the Republic of Panama to-day exercised
sovereignty over the isthmus, displacing
Colombia's former sovereignty; that the
United States, France, Russia, Great
Britain, Germany and other countries had
recognized Panama's supremacy, and added
'In view of the accomplished fact, and in
face of superior forces, we only main
tain and continue the existing engagements
with the United States"
The report also explained that the fact
that the United States Senate had not rati-
fled the treaty with Panama deferred the
execution or the cOmpdnyS engagements
with the United States. 1t is under these
circumstances, the report continued, that
We conVoke you to give to agreement
with the United States your definite ap-
prevail"
The report further disclosed Colombia s
recent vain efforts to induce the company
to continue dealing with the old govern
Lnent or the lsthmus, saying:
Prior to the Panama uprising the COM
mittee of the Colombian Congress recon-
mended action which would have eXtin-
/
| TO insert item of 81, 100000 in the Colom-
| bian budget to reimburse the company for
| its losses. The agent of the company at
Bogota resisted, and the French govern
| ment gave assurances that it would do all
| possible TO prevent the sacrifice of French
| property and interests.
Following the Panama outbreak Colon
bia notified the company Nov. q that it
would maintain the company's rights, but
| would oppose the transfer of the concession
| TO any government whatever. On Dec. 3
| Colombia's agent here, NJ. Sampler, notified
| the company that while Colombia was
| ready loyalty to uphold the company s
| rights, yet if the company entered into
| relations with the separate government or
| transferred its rights to another govern
| ment Colombia would construe such action
| as a voluntary abandonment of the con-
cession. which would thereupon lapse. The
| company replied on Dec. that ii recog-
| nlzed the existing conditions on the 18TH
mus and that If Colombia resumed posses
! sion OF the isthmus the company would be
| glad to resume relations with Colombia. -
During Secretary Lampre's reading of
| the report the disaffected element hooted
and catcalled, causing much disorder. The
speech of NJ. Groton, representative of
the old company, was also hooted.
Finally two resolutions were adopted, the
! first approving the accounts and the report
of the management and the second re-elect-
! ing the old officers The vote on the first
resolution was 1929 in favor of ii to 11s
| against it, showing the insignificance OF
| the opposition to the United States.
| The exclusion of the Colombian repre-
sentative from the meeting caused further
! disorder. NJ. Thiebaud protested in his be-
| half. President Bo explained that Colom-
| bia claimed her shares in the company, but
| he said the question of their ownership
was now doubtful, so the matter had been
referred to the courts.
The question of approving the sale of the
| companys property to the United States
! did not come UP formally before the meet
| ing to-day and was postponed to a subse-
| quent meeting, but the overwhelming vote
sustaining the management is considered to
| be decisive.
The group of shareholders inimical to the
! administration or the company assembled
! after the meeting and took up the consider
/ alton of measures which in their opinion
| should be adopted to obtain the judicial
notification of the action taken by the
| meeting.