Daily Kennebec journal., 1904-03-03
IN THIRTY DAYS.
This Country Will Possess
Panama Canal Property.
Conclusion Of Negotiations for Title
in Sight.
French Company Notified That the
Cash 10 Ready.

Washington, March "A conclusion
of the negotiations for the title to the
Panama canal property Is in sight.
Within 50 days, perhaps in a shorter
time, the United States will be in full
possession OF the property and the
money will have been paid to both the
republic Of Panama and to the new
Panama Canal Co.
Attorney General Knox had d confer
ence, today. with the President at
which the whole subject, so far as the
legal phases OF it are concerned, was
considered and decided. At the con-
clusion of the conference the attorney
general authorized the following state
ment:
Il have advised the President that
he IL authorized to pay at once to the
republic Of Panama the $10,0O0.6O0 stip-
ulated for by the treaty. the ratifica-
tions Of which have just been eXchang-
ed. Also that he Is authorized to pay
to the new Panama Canal Co. the s4O,-
OOO,O 900 which under the agreement be-
tween the United States and that COM
pany we are to Pay for its property
and have notified the canal company
that We are ready to close the transac-
tion.
"The details in connection with this
transfer Of the canal company's prop
erty should not require more than 80
days"
II appears that, after thorough con-
sideration Of the entire subject. Attor-
ney General Knox is satisfied perfectly
with the title which the canal COM
pany Is able to pass to the United
States. In his opinion it will not be
necessary to pursue the investigation
further Mr.. Knox declines to discuss
the pending litigation in the French
courts. but the inference. from his ;ou-
thorized statement, is plain that he
does not regard 1t as serious menace
to the validity of the title to the prop
erty which the company will pass to
the United States.
It has not been determined how soon
the so, 900 600 will be paid to the repub-
lie OF Panama. Secretary Shaw prac-
tically has completed arrangements at
the treasury department for the money
necessary to meet the obligation. in
CURED through the purchase Of the
French company's property. 1t is likely
that In short time he will issue a
cali upon the banks which are depOsi-
taries Of government funds for the
money to be paid out. His arrange
ments have been effected IN such Il
manner as not to disturb the financial
condition OF the country.
Paris. March 1T was asserted pos
itively. today, by one of the highest Of
flcials of the Panama Canal Co, that,
contrary 10 the statement. emanatng
from New Orleans. no arrangement has
been made or projected between the
company and the republic of Colombia,
In connection with the suits now pend
in1: before the French courts. The Off
cial declared there is absolutely no diff
Guilty in the way of an immediate con-
clusion Of the negotiations for the
transfer of the concessions to the Unit
cd States. as the company maintains
that the French procedure does not
provide for an Injunction. that there
cannot be any legal restraint of the
transfer and also that practically all
the available assets of the company,
consisting of material for construction.
dredges. etc. are in Panama. outside of
the Jurisdiction of the French courts.
It Ia further pointed out that if the
transfer to the United States is eff
fected Immediately. subsequent pro-
ceedings will be ineffective. 50 far as
applying to the United States.
At the Colombian legation here it was
said that no negotiations were I'm pro-
gress between Colombia and the canal
company for the withdrawal of the
suits. The officials of the company are
inclined to believe that the reports of
a settlement grew out Of the negotia-
tions for a treaty looking to the ad-
justment of the differences between Co.
lombia and Panama, In which may be
settled the question of the ownership
Of the shares of the company formerly
voted by Colombia and now one of the
subjects Of the pending litigation.
1t Ia understood here that Gen. Reyes
OF Colombia. who Is on his way to
Rome. Is favorable to a settlement with
Panama.
Tho officials of the United States en-
bassy share the view Of the officers of
the canal company that there is Moth
Ing now In the way of the actual trans
FER OF the concession and the COM
Pohy HIVptTty.
At recent conferences between Am
bassador Porter and President Bo of
the cana! company. the president point
Ell out that two suits are now pending.
one Involving Cnlombia's right to hold
shares and the other the general uues-
uon Of the company's right to trans
fer Its concession to the United States.
NJ. Ro was inclined to believe one. and
perhaps both Of the suits might he pro-
tracted for several months. But Gen.
Porter was satisfied after hearing NJ
Bo that even II the suits are continued
they do not constitute any menace to
the United States requiring putting off
the transfer. II this view prevails at
Washington. it Is expected that the de-
tails of the transfer will soon be ar
ranged through the canal company S
representative there.
Once Famous Minstrel Dead