The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-03
TITLE TOB|G DITCH
They Say Well Possess
it Within Thirty
Days.
fBv the Associated Presg.)


Washington, D. c.. March "a conclu-
sion of the negotiations for the title to
the Panama Canal property is in sight.
Within thirty days, perhaps in shorter
time, the United States will be in full
possession of the property and the money
consideration will have been paid to both
the Republic of Panama and to the new
Panama Canal Company.
Attorney General Knox had a confer
encc today with the President at which
the whole subject. so far as the legal
phases of it are concerned, was consld-
cred and decided. At the conclusion
Of the conference the Attorney General
authorized the following statement:
II have advised the President that he
is authorized to pay at once to the Re
public of Panama the $10,0O0,OO0 stipula-
ted for by the treaty, the ratifications
of which have just been exchanged. Also
that he is authorized to pay to the new
Panama Canal Company the $4O,000,0O0
which under the agreement between the
United States and that company we are to
paw for it's property, and have notified
the canal company we are ready to close
the transaction.
THE details in connection with the
transfer of the canal companys property
should not require more than thirty
days"
It appears that, after thorough con-
sideration of the entire subject Attorney
General Knox is satisfied perfectly with
the title which the canal company is
able to pass to the United States. In his
opinion it will not be necessary to pur-
sue the investigation further Mr.. Knox
declines to discuss the pending litigation
in the French courts, but the inference,
from his authorized statement, is plain
that he does not regard it as a serious
menace to the validity of the title to the
property which the company will pass
to the United States.
Secretary Shaw practically has COM
pleted arrangements at the Treasury De-
partment for the money necessary to meet
the obligations incurred through the
purchase OF the French companys prop
erty. His arrangements have been af-
fected in such a manner as not TO disturb
seriously the financial condition of the
country.
Paris, March 2-It was asserted posi-
lively today by one of the highest Off
cials of the Panama Canal Company that,
contrary to the statement cmanating
from New Orleans. no arrangement has
been made or projected between the conf
pany and the republic of Colombia in
connection with the suits now pending be-
fore the French courts
The official declared there is absolutely
no difficulty in the way of an immediate
conclusion of the negotiations for the
transfer Of the concession to the United
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, are in Panama. outside
of the jurisdiction of the French courts.
1t is further pointed out that if the
transfer to the United StatesYis effected
Immediately subsequent proceedings will
be ineffective so far as applying to the
United States.
The officials of the United States EN-
bassy share the view of the officers of
the canal company. that there is nothing
row in the way of the actual transfer
ence of the concession and the eompany's
property.