Devils Lake inter-ocean and Devils Lake free press. (Devils Lake, Ramsey County, N.D.) 1905-1909, 1908-12-25

ana the uQuldaCOr authorized by tho
decree of the same civil tribunal soR
the Seine. and providing for q deter
mination Of the proportionate division
between the new and old companies.
We paid the money through the New
York banking house of Messrs. J. P.
Morgan & Co., acting as fiscal agents
of this government, into the Bank of
France in Paris. : The receipts and
accounts of our treasury department
show the payment of the money into
, the Bank of France and account for
, the money being paid over to the
' liquidator appointed by the civil
: tribunal of the Seine and to the new
Panama Canal company of France,
, the proportion of the $40,000000 being
! 1928, 100000 francs to the liquidator, o.
: the old company and 77,400,000 francs
: to the new Panama Canal company of
| France in liquidation. :.
| Followed Decree of-French Court.
In these payments we followed to
I the; letter the decree of the govern
mental tribunal of France which had
the authority to make such a decree,
the civil tribunal of the Seine We
had neither desire nor authority to
4 go behind this decree OF. this proper
I governmer al body, as all the con-
! f1icting rights of the security holders
of both companies had been settled
by the decree of said court by ratifi-
cation of the arbitration which result
ed in that division. wish to make as
clean as possible, and as emphatic as
possible, the statement that we did
not have anything to do with the dis
tribution of dollar of the $4O,00O,0Oo
we paid as regards any stockholders
or bondholders of the French COM
panies, save that we followed out the
award of the arbitrators appointed in
accordance with the decree of the
French court which had dealt with
the subject in awarding certain pro-
portion to the old company and GER
tain proportion to the new company
Any question concerning the stock
holders, bondholders or other bene-
=, ficiaries of the proceeds of sale was
purely question for the civil tribunal
of the Seine. the French governmental
body, with which this nation has moth
ing whatever to do.
Under these circumstances there
was not the slightest need for Mr.
Cromwell to give any information on
the subject of the companies for
which he had been counsel This
government has no concern with Mr..
Cronwell's relation to these COM
panies or either of them, or with the
amount Of his professional compen-
sation; it was not the affair of this
government to inquire who were the
security holders of the companies.
Nevertheless, Mr.. Cromwell, of his
own accord, has submitted to me, to-
gether with copy of his statement
published on the 18th inst, and which
transmit herewith, full list of the
stockholders of the new Panama Ca
nal company Of France on Jan. Is,
1900 Numbering over $1,000, and a
. list Of all stockholders. who were pres
lent at Especial meeting ofssthe COM
pany held Feb. %, 1902, Immediately
after the cable offer of the company
was made to the United States (Jan.
Gil, 1922 to accept the appraise-
ment of $40,000,000 made by the 18TH
milan canal commission and to sell
for said sum the Panama canal con-
: cessfons and other property and the
:, shares Of the Panama Railroad COM
pany. He has also furnished me a
" certified copy of the final report of
the liquidator Of the old company
which was filed on June 25 last and
formally approved by the civil tribunal
: of the Seine, together with a sum
mary account prepared and signed
by said liquidator as late as the Gath
lult. 4. ~ - I'll ' ,::S, &.
1 Resolutions RatifyIne Sale. r. 7
also transmit translation of. the
two resolutions. with the vote upon
them, adopted at "a meeting of the
4 stockholders of {; the new company
+ held on April %, 1904, for the purpose
! Of finally ratifying the sale.s All these
documents I herewith transmit as a
1 part of this! message. 1t appears
from them that the creditors of the
old company number 226,296, parties
who have received dividends out 81
i the funds on the hands of the liqui.
) dator, who, in his letter, states that In
+ this present month of December the
second and last contribution to the
u