Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-12-31
THE PANAMA CANAL CO.
Begins Meeting at Faris-UnusuaI In
terest in the Event. ...

Paris, Dec. 30.-OWing to the recent
events at Panama the annual meeting
of the Pnama Canal Co. which began.
today, developed unusual interest and
excitement. Prior to the opening eff
forts We're made to secure enough
proxies TO overrule the existing man
agement Of the company, which is
favorable to the sale of the company's
property to the United States. Inc
Hail of Agriculture was crowded with
officials, stockholders and prominent
financiers. At the opening of the meet
ing the management submitted d re-
port of the recent events on the 18TH
mus and the course taken by the COM
pany. The report set forth that the
republic of Panama, today, exercised
sovereignty over the isthmus uIsplac-
ing Colombias former sovereignty, the
United States. France, Russia. Great
Britain, Germany and other countries
recognizing Panama's supremacy, and
added:
In view of the accomplished fact
and in face of superior force, we can
only maintain and continue the exist
ing engagements with the United
States
The report also explained that the
fact that the United States Senate had
not ratified the treaty With Panama de-
ferred the execution Of the companys
engagements VITA the United States.
1t is under these circumstances
the report ccntinue,.. that we convoker
you to give to our agreement with the
United States. your definite approval"
h. I. =; i
bias recent vain efforts to induce the
company to continue dealing with the
old government of the isthmus, and
says:
prior to the Panama uprising the
committee of the Colombian Congress
recommended action which would have
eXtinguished the company's tights. It
proposed to insert an item Of 100000
in the Colombian budget to reimburse
the company for its losses. The agent
of the company at BCgota protested
and the French government gave as
surances that il would do all possible
to prevent the sacrifice OF French
property and interests
Following the Panama outbreak, Co.
lonlba notified the company Nov. IS.
that it would maintain the company'S
rights but would oppose the transfer of
the concession to any government
whatever.
On Dec. 8. Colombia's agent here, NJ.
Semper, notified the company that
while Colombia was ready Loyalty to
uphold the company rights. yet if the
company entered into relations With
the Separatist government or trans
ferred its rights to another government
Colombia would construe such action
dis a voluntary abandonment of the
concession, which would thereupon
lapse.
he company replied Dec. Z, that it
tic istAn?us ard that if Colombia re-
stunned possession of the isthmus the
company would be glad to resume re-
lations with Colombia.
During Secretary Lampre's reading
of the report the disaffected element
hootel and cat-called, causing much
disorder.
The resolutions We're adopted the first
approving the accounts and the report.
of the managers, and the second re-
electins the old officers.
The exclusion of the Colombian rep
resentative from the meeting caused
further disorder, M. Thiebaud protested
in his behalf. President 30 explained
that Colombia 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 rot come up before the meet
ing, today, and was postponed to a
subsequent meeting. But, the over
wholminS vote sustaining the mana
gers is considered to be decisive.