New-York tribune., 1908-07-02
An OFFER TO CASTRO
vtY SETTLE For $500, 900.
~ York and BermudeS Co. y arts
asphalt Property Returned.

s,x lost hope that the American claims
,,xt venezuela will be settled by arbitration,
>.a Yerk and Bermudez Company. sub
N concern Of the General Asphalt Company
I, j. reported 10 offer President Castro
20 ,oaeel for the return of its asphalt property
s,,n m. Venezuelan government seized in 1904
-. ,srrns Of settlement that the American COM
~ il is understood, will present stipulate
W. ,na money he paid IN instalments of $50
90, wear for a period of zen years. and there
:. - he the further stipulation that the govern
-, ~ Venezuela is To receive share OF the
-,roa,s OF the restored property during the in
,,ency of President Castro.
-rA New York and Bermudez Company,
.-+ of the so-called Asphalt Trust, will send
- CONSERVATIVES 10 Caracas on this mission
-o,,o-,s say one OF these is associated in a
al capacity with the company, and the other
a., con,natriot of General Castro. whose friend
., With the dictator. il is hoped may induce
= latter 10 agree TO enter into negotiations for
.++lernent They were to start two weeks
but the uncertain conditions existing in
,ro,ez,ela have caused them to defer their trip
-h. ssnhalt lake at Guanaco. in the State OF
re-nudez formerly operated by the New YORK
80 T,ermudez Company under concession
~ for many years been the subject of never
.,ainp litigation and diplomatic controversy.
r-bo venezuelan government in 1904, at the in
,.-,o, of President Castro, and acting on the
,fo-,,ation =, of enemies of the New York and
-,,,,5ez Company brought suits against the
,s4+er which resulted in the forfeiture or the
--orertv and a fine against the company "I
e. oeoooO one suit was for alleged fallure on
.be ,art of the New York and Bermudez Com
- ~ fulfil the terms of its concession and
.+,o- for alleged completely in the insurrec-
,,on headed by Manuel A. Matos, in l:ol
The court appointed Ambrose Howard Garner
-en-esenting Arazi Lorenzo Barber OF New YORK
"a Washington as receiver and UP 10 the 'iiile
-. President Castro removed him as receiver,
6 few months ago, shipped the asphalt 10 bar
hs-,s company here. Barber was formerly presi-
aent Of the Asphalt Trust and Garner was
managing director of the New York and Ber-
r,r5ez Company. The latter made vigorous pro-
test 10 the State Department at Washington
.r,inst the arbitrary deprivation of its rights
r6 its claim is now of those penang
.rainst the Castro government, and on which
.ha American government deferred action lew
months ago until the convening of the next ses-
sion Of Congress, in December
The New York and Bermudez Company OBJ
tained its concession 10 the Guanoco aspha4l
lake in 1888 II was for twenty-five years ana
will expire in September dispatcn from
Caracas last Sunday said that the accounting
rendered by Garner Of his four years receiver
shin showed that out Of 100000 obtained from
one hundred thousand tons of asphalt taken
out Of the property, and valued at - a toh'
there remained only 5000 the rest going for
maintenance, administration and improve
ments"
Said former Venezuelan official yesterday
From that showing think it would be a wise
,,,,r, .o- Castro 10 accept S250O00 year for
%, ,,ea-s t,esjdes the interest in the profits
+h,nk :, would be a good diplomatic stroke. too,
for If he waits until next winter he might lose
the asnbalt lake and have only trouble for his
ohstinacv and rapacity.'