Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-07
plete full examination of the bid and re
port to the President"
Conference at the White House.


Conference at the White House.
Secretary Taft held conference today
with the President regarding the Panama
canal contract for the purpose of determin-
| ing upon a course of procedure. The Presi-
dent and Secretary have before them the
| completed bid of William j. Oliver and his
l associates for the construction Of the canal
| Secretary Taft said he believed that an
early decision should be reached In justice
| to the people who have their money tied up
as security.
| While Secretary Taft and General Counsel
Rogers of the canal commission were in
| conference with the President at the White
House. Mr.. Oliver, with Judge Brien and
w. A. c. Smith of New York, one of the
| stockholders of the Panama Construction
| Company, were in the Office of the Secre-
/ tary awaiting the decision. When the Sec
rotary and Mr.. Rogers returned to the War
Department Mr.. Oliver and Mr.. Smith
were at once sent for, Judge OBrien not
| being present because of his being obliged
| to return to New York on an early train.
| Secretary Taft made known to Mr.. Oliver
| and said that he would frame letter to
| Judge O'Brien informing him just how the
matter stood
This letter stated. among other things.
that the President was very much inclined
to give the contract to Mr.. Oliver and his
associates, but that he would not surren-
der his right to reject all bids even after
the further hearing has been given to the
McArthur-Gilespie combination.
Mr.. Oliver viii leave here tonight for his
home In Knoxville. He said that while he
| felt that the President and Secretary would
insist on reasonable time to investigate
his associates and stockholders the an
nouncement that the Macarthur Gillespie
people would be given a further hearing
was most unexpected He neverthe' ess had
faith that the contract ultimately would be
given to him.
Original Bid Retained.
A number of ma pers have haan s,,hp;ttad
| to General Counsel Rogers by Mr. Oliver.
including not only the list Of those whom
Mr.. Oliver proposes to associate with him
| in the actual work of construction but also
the names of the stockholders and the
| amounts subscribed by each. 1t was ascer-
| tanned that the original figure submitted by
| MI oilver, $40 per cent of the estimated
| cost OF construction, was adhered to in the
papers filed today.
The closest investigation will be made re-
| gardng the stockholders, and, in fact, re-
| gardng everybody interested in the COM
| pany. The incorporators are one thing"
said one of the officials, land the stock
| holders are another"
The question of the skill, experience
| ana t9ancial interests and responsibility
| of those with whom Mr.. Oliver has assoc
| ciated himself will be gone into"
Mr.. Oliver declared that he had gath
| cred combination of the greatest con-
| tractors in the world. While 1 am not
| inclined to discuss the matter" he said,
..inasmuch as it is now before the Secre-
| tary Of War. yet feel have disappointed
some people who thought 1 could not make
| good
Regarding the question of labor, he
felt no uneasiness. he said. I'VE will be
| able to get all the we want. The
| sanitary conditions on the isthmus are
| well-nigh perfect and 1aborers will not
hesitate to go there on that account
The Construction Company.
The directors of the Panama Construction
company are w. J. Oliver, Knoxville Tenn. !;
Charles H. Ackert, Washington, D. c.; Pat
rick ]. Walsh, Davenport, Iowa; Robert
Russell, Lynchburg, Va; p. L. Brennan
| Washington d. c.; John B. Mcdonald,
New York; John PIERCE New York; George
New York; George Sayre, New York;
George PIERCE, Frankfort, Me-, and Robert
A. Chester. Washington, D. C..
| Each of the directors subscribed for fifty
shares and paid in 5000 when the COM
pany Incorporated in Albany. The
| articles of Incorporation call for 5000
making a total of $5,OoO,COO. AS required
by the government, 50 100000 Of this
amount will be represented by the bond
| which the successful bidder is required to
| give, and the remaining 5000 600 is to be
| represented by actual cash or securities.
OF the $3,Oo0,O0O cash capital one-haf of
the amount, $1,5O0,OOO, must be paid in
| when the contract is signed and the second
| $15O0,OOO must be payable upon demand.
| The stockholders who have subscribed
| to the paid-up capital stock in addition to
the $4,000 paid in by the twelve directors
| when the company was incorporated and
the amount Of stock taken by each, fol-
lows:
R. a. c. Smith, $4,000; John B. Nc
Prederick s' G. Stevens sDan ssea,S Se " j.
Oliver. 1851, 500. This with the 100000
makes total of $1.oo9OO0 Stock payable
upon demand has been subscribed for as
follows:
R. A. c. Smith, 100000; John B. Nc
j Donald. $20630 John Peirce. $685., 800; F.
c. Stevens, $780,, 500; w. ]. Oliver 1862 800
P. J. Walsh, 5000: r. A. Chester, 5000;
and Robert Russell, So, 600. Total, s., 5O0 COO
The corporation's' s., 100000 bond is given
in the following surety companies: Key
stone Bonding Company of PENNSYLVANIA.
$500. 200; Title Guaranty and Security Com
/ pany Of Scranton. Pa, $45O,o00; Fidelity
Trust and Deposit Company of Maryland.
indianapolis Ind, $3.50, 600; Peoples Surety
Company Of New York. 100000, and EN-
1 pie State Surety Company of New York,
$4,000. The bonding COMPANIES a,so as
protect the government from loss in case
one of the bonding companies should fail.
The incorporators offer to furnish addi-
tional bondsmen IL the government decides
| that any of the companies have assumed
larger responsibility than they can well
| carry.
| MI OuVer mas delivered TO the OncialS
| of the canal commission certificates show
| ing that deposits have been made to the
| credit of the Panama Construction Com
pany in the following New York trust COM
panies Trust Company of America, $780,
coo; Knickerbocker Trust Company $780,
coo; Colonial Trust Company, $4,000;
Windsor Trust Company. $4,000. Total.
81, 100000. This amount will be turned
| over to the government when the contract
for constructing the Panama canal is
signed.
ALICE LoNGFELLoW ILL.
Friends Fear That She Is Near to
1 heath