New-York tribune., 1908-12-11
PRESIDENT on PANAMA
Continued from first page.

| matter. It was project proposed ny the COMPANY
| 10 the Rivers and HarboTs Committee Of the IJouse
and to President Mckinley February =. 1899 an6
was formally authorized by the board OF Director
October 10 1899 subject TO the necessary approval
! OF stockholders. The initial steps we're taken by
me In October, November and December 1899. and
| company formed for the purpose under the laws
Of New Jersey for carrying out the instructions o.
my client. While the certificate of Incorporation of
the Panama Canal Company Of America vas fled
in New Jersey capital stock. except the nom
inal capital of S5.00 forth in the certificate OF
incorporation issued. and nothing further
was ever done by that company, as the records IN
the office OF the Secretary 81 State OF New JERSEY
| Will show. The project adopted by the board OF
directors failed Of approval tho stockholders in
December. 1899. the board of directors in conSe-
quence resigned in a body. and the plan then and
| there forever ended The period covered by this
project was less than three months: not a dollar
| vas paid in under II transaction conducted
| by the New Jersey company for the reason stated
| The plan was dead and aba n6oned over two years
before the company finally Welded to the pressure
| Of the American government to sell at S+N"""F'
NO MYSTERY IN DISTRIBUTION
Now with regard 10 the distribution of the s+o.-
| ooo osn If has been made appear in newspaper
| comments that there mystery connected
| with the disposition Of this money. There Is no
mystery and never has been. The fund IN question
paid into the Bank Of France by the United States
nro5rced the net sum Of Dos ooOoo francs, the sum
Of r2S $4,000 francs being placed TO the credit OF the
| liquidator Of the old Panama Canal Company and
- 4oo 90 francs being placed 70 the credit OF the
| New Panama Canal Company in liquidation and pZ
said hank patd over TO said quidators, respectively
pursuant TO decision Of arbitration at Paris Feb
ruary l. 1912 confirmed by the Civil Tribunal OF the
Seine.
To the Senate committee stated that I did not
-1o- rrsr diztrir1ltion Of the fund had made
and that I was in no way concerned or Interested
therein That statement by me was true 'iSi no
pecuniary il the canal and II was none OF
my business personally or professionally "ho "@'e
the stockholders or bondholdeTs Of the COMPANY
Since the recent publications l have made IN
uufries In Paris and an informed that the djstrib-
ton OF these moneys is matter Of public record.
that the amount received by the HQuida 5or of the
old Panama Canal COMPANY has been distributed
by him an officer II the court. TO the holders %
the obligations OF the old COMPANY; shat these per
sons appeared fl person the Office Of the iGuida-
tor 70 receipt FOR the moneys paid 70 them; that
they numbered 22S.2a3. the largest number % ind-
yiduals p-ooa bly, ever appearing in person upon
single business affair. and that the amount
paid was BIS The complete and detailed record ~
these payments, together with the names and re
ceipts q every person 10 whom payment made
ana the amount OF such payment is in the hands o,
the iulidstor al his Offices At No % Rue Eti-nne
Marcel. Paris which i IN a prominent and fire.
Quented part OF the city near the Rourse. easily
found by any desirors OF doing
AS 10 The fGnd PAID the New Panna Canal
Company--that COMPANY at tho time OF the sale OF
its property 10 the United States went into liquda-
ton. and am likewise recently Informed that the
distribution Of sstets among its shareholders
the Credit Lyonnais, SocietE Generate Compton
National d'Escompte de PARIS and Credit Industriel
et COumerciaI-tn three separate payments July
l5 1904; February 3 1905 and June Is 1903 covering
q period Of four years. and vas completed in June
1908. This liquidation took place the regular
Offices OF the company. 20. g Rue Louis le Grand.
Paris. readily found by anybody who honestly
sought 70 md them The facts concerning the
liquidation are a matter Of public report TO the
shareholders of the company rhis company had no
bond issue and were the subject Of official publca-
lions from tine 7ine covering period Of four
Eears IL the official papers under direction of the
courts The paid the shareholders OF
the New Panama Canal Company, as am in
formed BY the IiqUidators approximately 30 7E
francs each share the par value OF 100 francs
that is they merely received back only the capital
originally invested. with interest less than ner
cent per annuTn. am informed by the Iiquidators
that the shareholders 20 whom distribution vas
made numbered 6,7E+
Neither n1r Ia u firm nor arv ono Co,7rs.+u5
with ne ever Owned. directly or indirectly any
share Of stock in the NeW Panama Canal r,o17oarv
nor any Of the obligations securities Of the oi5
Panama Canal Company, nor ever bought or sold
any Of the shares or SECURITIES Of either one Of said
companies, nor directly OF indirectly inter
ested in them.
NO PUBLIC MEN INVOLVED
an also positive that not man in public lie
In America n or out Of Congress, ever had the
least IecuniaTy interest in the Panama Canal
1 % not know and never have known of anv
American citizen who has dealt in any Of the
shares Of tbs New Panama Canal Company or the
shares or bonds Of the old con1pauy
A further insrance Of the unwarrzUted s1rf+1,da
Of The Indianapolis News" and Of other io,,I1,aIa
iepeating the statements Is furnished with respect
Nr. 6. 2. Taft and Nj Douglas Robinson In
the same issue Of The WorId'- October 5. 1aPs,
said:
The mention Of The names Of NJ. Taft and NJ
Douglas Robinson Is another evidence that this
IS IS axe stprA- No member of the TAFT family
M Douglas Robinson ever had the renotest con
nection with Panama Canal matters. directly or
IUdiTeCriE. and Of rtFs
subject before the United States acquired The ane
never saw hr. Douglas Robinson in ms life The
names of aesaT ana Napoleon might well haze
been used, for II could not be impossible All
thls except the dragging in Of new names Was
rnttee BY the late Senator Morgan. out Of respeot
TOT me oead Tefrain from comment upon that
proceeding nut feel warranted in saving that II
vas pursued with unparalleled energy and skill II
was. however. completely exploded refuted by
he raCts IN me case, and ended IN complete dis
comf1ture- There is not a word Of truth in IL and
would not notice II AZ this time il IL did not
concern others.
The introduction of these gentlemen in the Rana-
ma affair is like the creation Of character IN a
work Of fiction They did exist n the sense Of
having any relation 10 the canal matter. Neither
had the least pecuniary interest in the
business. It is matter of public history that the
PTesident-clect never had any ofnciai connection
with the canal until months after Il had been ac-
qured by this government. He IN the Philip
pines as Governor during all the years in question
Eqlally perverted Is the fact concerning the rec
o-ds and accounts Of the TWO companies They
were no, delivered 10 United States because
they were records Of the companies transactions
With which the United States had no concern. But
as a matter Of fact. the records and hI-s OF the
liquidation Of tho Old company are in the hands Of
the Iiquidator at No. 50 Rue Etlenne Marcel Paris
and rhos. OF the New company were the final
in June. 1903. deposited with the Credit
IyonnaIse boulevard Italiens, TO be preserved.