The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1904-04-29
GETS TITLE TO
CANAL PROPERTY
UNITED STATES CLOSES DEAL
WITH FRENCH COMPANY
FOR ISTHMIAN ROUTE.
SHAREHOLDERS RATIFY
ACTION OF OFFICIALS
Only Five Dissenting Votes Are Cast
Government to Pay Stipulated
Price of $40, 900 on Delivery
of the Property.

Paris, April 25.-The contract by
which the ownership of the Panama
canal passes to the United States is
signed, sealed, delivered and complete.
The title to the canal route is now vest
ed in the government of the United
States. The transfer is complete and
without reservation, and the United
States secures perfect title.
Action Is Ratified.
The meeting of the stockholders of
the company for the purpose of finally
ratifying the transfer of the canal to
the United States was held in the
Sale DIES Agriculteurs Saturday. A
large and demonstrative crowd was
present, many women occupying the
galleries. Prior to the meeting it -e-
came known that the conveyance of
the property to the United States had
already been made. Great interest
was manifested, as it was recognized
that the vote on approving the con-
veyance would be the final struggle.
The report of the council of admin
istration was distributed to the share
holders. This formally announced that
President Bo and Director Rischmann
had signed the conveyance and pre-
scented a resolution ratifying their ac-
ton.
The report also gave the text of the
conveyance to the United States The
most important paragraph reads as
follows:
Nov, therefore, we, the New Pana-
ma Canal company, represented by
Marius Bo and Albert Rischmann, in
consideration of the payment of the
sum of $40,000,000 in gold coin of the
United States to the said company on
it's order or demand contemporaneous-
ly with. the delivery of this present
conveyance to the representatives of
the United States first above men
toned, and the delivery to them Of
it's property in Paris and the certifi
Gates of said Panama railroad shares,
(the property of the company not be-
ing understood to include the treas
ury assets of the company, including
deposits of money, outstanding credits
and investments on the bonds.) and
the delivery upon the Isthmus of Pan
anna to an agent of the United States
designated by them or by the attor
ney general of the United States, of
the remainder of its rights and prop
critics, do hereby acknowledge and con-
firm said sale, and do grant, sell and
assign, transfer and set over to the
United States absolutely in full own
ership the totality without exception
of the company's property and rights
on the isthmus of Panama and it's
maps and archives at Paris"
The report also gave the opinion OF
Former Premier Waldeck-Rousseau on
the regularity of the transfer and the
resolution for liquidation of the COM
pany after all the property iss turned
over to the United States
Secretary Lampre read protest from
Bonaparte Wyse, the original con-
cessionaire, and a representative of
Colombia against the ratification.
The voting began Immediately, with
out speechmaking. President Bo an
nounced the first resolution, for rati-
fication, which was carried with only
five dissenting votes. This brought
out loud applause. The vote was not
taken in detail, but the affirmative rep
resented about $50 persons present,
holding approximately 100000 shares.
The second resolution was similar
ly adopted without a division, only
two shares dissenting. The meeting
then adjourned, the entire session last
ing only an hour and a quarter.