New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-27
At WASHINGTON to the President Of the Re-

ana at Washington 10 the President OF the Re-
public In the following dispatch:
The exchange OF ratihcatioas OF the treaty has
he soconpiishment OF my duty toward the Repub-
nc q Pansns request your e1eeenSy s IN con-
November last 70 the Department on Foreign AZ Il
BUNAU-VARILLA.
Mr.. Bunau-varilla expects to remain in this
country for a fortnight and will then go TO Paris
to look after HIS private business. It is possible
that the government of Panama VIII wish him
to remain I'm charge Of the legation until his
successor. DR.. Arosemena. arrives. and it is
probable that the minister. viii consent to ex-
tend his mission until that time.
Replying TO an inquiry as to why the Panama
government was not TO receive to-day in accord
ance with the terms of the treaty the 100000
which this country has pledged itself to pay,
the minister said:
First, because had Informed the officials that
were check for this amount handed me should ,
along that ] did not care TO be connected In any
canal sale and further. because the government OF
Panama he's not yet decided on programme o IGT
prefer that it should not be transferred for the
present. A second reason is the necessity OF accom-
rlshing certain legal fornalities with the Panama
Canal Company, which the Attorney General Of the
ously with the payment OF the purchase price. For
this reason the preference OF the Panama govern
present IN harmony with the wishes OF this gov
eminent
CALLS CoLoMBIAs CLAIMS ABSURD.
Asked about the nature Of these formalities,
Mr. Bunau-Varilla said:
These formalities arise from the special situation
receiver ana Cannot be transmitted without an
thorization OF the courts. The absurd theory Of
tween Colombia and Panama are still binding, while
others are not can cause only amusement even 70
Panama and therefore Is unable to fulfil her obi
cations 20 the Panama Canal Company and. al
seems DESTROYS that the Panama Canal Company
shall fulfil fits obligations 20 the Bogota govern
sn. r.. sne SesSe 70 o sen tas Saa property with
n the newspapers report. Colombia has adj
vsnoed this contention, 81 IS on the face Of e
request enforcement OF its defunct contract with
the Panama Canal Company by the French courts,
Supreme Court at BoEots is the only court - which
dificulties arising between Colombia and the COM
parry shall be submitted But howeyer irrat9 1
advisable 20 apply some judicial antiseptic pre-
cautions before the final steps are taken But this
I should say that probably not more than a
month VIII elapse before Panama viii be ready 70
United States to pay IL over. have recommended
that the Panama government. in investing this
he state OF Nev-Yor for the disposition OF funds
af savings hanks Of that State. This law provides
employed for the investment OF all savings banks
funds The government has not yet made its de-
Now that ratifcations have been exchanged. the
fiscal agents ~ the Panama Republic. J. P MORGAN
& Co. win. directly with the government or with
purpose or with the minister. who probably
will be fully instructed on this point. draw up a
programme for the investment OF the money.