The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-03-07
DOUBTS ABILITY
TO DELIVER TITLE,
Senator Platt Says Panama Canal
Company Cannot Give Il
Clear Deed.
QUESTIONS FUTURE ABILITY.
New Concern Has Nothing but
Contract With the Old One
Believed That Conditions Are
Not Entirely Hopeless.


hff ht-I1 SfEIIRIH
Washington. March 6-"Not only is tbs
Panama Canal Company unable to deliver
the goods. but there is no certainty that il
will be able to do so on March %. wher
| the United States has arranged TO make
payment. or at any other time in the neal
future said senator T. c. Plat of New
York, to-day, In describing the situation in
which the administration has found itsels.
Senator Platt is acting chairman Of the
Senate Committee on Interoceanic Canals.
He said all legislation would be held in
allegiance until the title to the canal had
been completed by the new Panama Cana
Company. The subject OF legislation gov
erning the administration of the canal
work. and the canal strip. has been re-
ferred to a subcommittee. of which Sena-
tor Kittridge is chairman.
Senator Plat said he understood the
Panama Commission would not make the
early trip to the isthmus as contemplated.
but would wait until the United States
had actually obtained possession.
A prominent member of the House Com
mittee on Interstate and Foreign Com
merce expressed doubt of the ability of the
French company to effect a title to the
satisfaction of the United States.
FGSOINHI'S 10 MI. SEODINtll OWL SIdie-
ment Of :he case" he said, "aII in the
world that the new Panama Canal Com
plhy has from the old company is a con-
tIact with the receiver OF that corpora
ten, by which 1t receives permission to go
ahead and build the canal. to pay out OF
the proceeds OF the canal. after its COM
pletion. the running expenses and interest
on certain indebtedness. and to divide all
the proceeds over and above this amount
with the old mpa giving 1t % per
cent and retaining 10 PER cent.
Under this arrangement. and according
to all the new Panama Canal Company
has to show at this time. II positively can
not deliver the canal over to the owner
ship Of the United States. All that it has
States should pay It the s4o.0 900, it would
only be buying the right to build the
canal. and to retain 40 per cent OF the
profits after expenses were paid. They
would be acquiring no property and would
receive nothing except a partnership with
the old Panama Canal Company"
When asked If he considered the n
of getting a proper title from the new
Panama Canal Company entirely hope
less. this member said:
while matters are in very bad shape,
they are not entirely hopeless The only
way. however. in which the United States
Commission could get an absolutely safe
title would be by securing, If pos
ness against the old canal com
an absolute sale Of the property to
the new company Inen Jne taJter WOulu
be in a position to sell the property to the
United States with a clear and absolute
title.
Unless this is done, the United States
will only plunge itself into an endless sea
of litigation with the stockholders of the
old canal company.
"AIl of our legislation on the subject of
securing this canal property names the
new Panama Canal Company. We are
not supposed to have anything whatever
to do with the old company, and unless
we can get absolutely satisfactory proof
to show that the new company has an I'M
questioned bill of sale from the old COM
pany and the liquidator, and that il now
owns the Panam propert entirely, we
should never pay over that A0,0oO. oO0.'