The Barre daily times. (Barre, Vt.) 1897-1959, 1908-12-11
Declares Cromwell on the
Panama Deal
is EMPHATIC IN DENIAL
Says That He Knows Of No American
Citizen Who HasE yer Dealt in Any
Shares Of Panama Stock, Old
or New.

New York, Dec. 11.--Wiiliam Nelsoi
Cromwell, has authorized the following
statement:
MY attention had been called to :
statement issued by the editor Of thu
indianapolis News in which he at
tempts TO reply to the charge made b,
President Roosevelt that certain state
mtnts made in he Indianapolis News
and relating to the purchase Of tho
Panama canal by the United States
were false and untrue.
The editor of the News in his reply
stated that the other men such al
Cromwell and Morgan, who were be.
lieved to have full knowledge in regard
TO the business said nothing and be
attempts 10 justify the publication OF
the false statements appearing in his
paper by saying that they were based
largely on statements Of the New York
World criticisms which were made over
End over again during the campaign
and were utterly ignored until today,
The reply of the editor of the News
furnishes another proof OF the justice
of the presidents characterizations for
in the very journal under whose sheets
ii now takes refuge namely the New
York World Of October 3, 1908, appears
an explicit and unqualified denials by
me of story referred to and In which
] used the following language:
Neither l nor any one allied with
me ever bought, sold, dealt in or ever
stto4 II - raHf .t4t af
stocks, bonds or other securities of
either the old Panama canal company
or the new Panama canal company, or
ever received for the same single
dollar OF the forty millions paid by the
United States.
] myself, as general counsel Of the
company arranged for the payment of
the entire $40000.000 direct from the
treasury OF the United States through
the bankers Of the government into the
is nix OF France az Paris to the credit
OF the Iiquidators of the two companies.
Not one dollar of it ever came to
me or any one in anywise connected
with me. OF course, | do not refer TO
our regular compensation as counsel
Il wish TO call attention to the fact
that upon the first day Of the hearings
before the committee on Inter Oceanic
canals Of the Senate Of the United
States ia February, 1905, | voluntarily
made an explicit and detailed state
Inent showing how the $4o,Oo0,oO0 was
paid by the United States through
Messrs. ). =. Morgan g. Co. as their
agents to the Bank of France and Paris
for account of the new Panama canal
company, and also explaining the sub
sequent payment Of the full amount to
the liquidators Of the old Panama
canal company. who in turn distributed
the same to their respective stock and
bond holders numbering hundreds Of
thousands of persons.
The testimony taken by the Senate
committee is a public record and was
available to the editors Of the News
and the World.
while the certificates OF incorpora-
tion of the Panama Canal company of
America was filed In New Jersey no
capital stock except the nominal capi-
tai of $4,000 set forth in the certif-
cate of Incorporation was ever issued,
and nothing further was ever done by
that company, as the records in the
Office of the SECRETARY OF state of New
Jersey will show. The plan was dead
and abandoned over two years before
she company finally yielded to the pres
sure of the American government to
sell at S4o,00o,0O0.
"The $40,000,000 paid into the bank
OF France by the United States pro.
duced the net sum of 5000 600 francs
The sum Of 12s,600 600 francs being
placed to the credit ofy the liquidatof
of the old Panama canal company, and
77,400000 francs being placed to the
credit of the new Panama Canal com
pany in liquidation, and by said bank
paid over to said liquidators, respec-
lively, pursuant to q decision of arbi-
tration at Paris February Ill, 1902, con
1irmed by the civil trigunal of the
Seine.
Il am informed that the distribution
OF these monies is a matter Of public
record and that the amount paid each
person was $156. As to the fund paid
to the new Panama Canal company
that company at the time Of the sale
Of its property to the United States
went into liquidation, and / am like
wise recently informed that the dis
tTibution OFF is assets amongst its
shareholders was made through four
banks of Paris.
Il am positive that not man in
public life in America in or out Of
Congress, ever had the least pecuniary
interest in the Panama canal.
Il do not know Of any American |
citizen who has ever dealt in any Of |
the shares OF the ney Panama Canal
company or the shares or bonds of |
the old company.
NO member of the Taft family or |
Mr.. Douglass Robinson ever had the |
lemotest eonenetion with Panama Can I
al matters directly or indirectly. and I /
never saw one Of them on this subject /
before the United States acquired the /
canal. I never saw Mr.. Douglass Rob I
inson in my life.
The whole story Of Americans or
some American syndicate buying upI
the Panama Canal securities at a low
price, or at any price and then turning
them inupon liquidation at a profit IS
q fiction and a eoncoetion."
Returns to the Burlington CITY
clerks Office for the month Of Novem-