The San Francisco call., 1908-12-11
'If | Can Reach Them for
Libel, | WIFI Roosevelt

order OF the NQuidators until distributed
by them TO the hundreds OF thousands
OF benefciaries, and not 81 OF It ever
ss to WITH % or any ofs conrss ta sny 90 Dot
refer to our regular compensation as
counsel.
1 wish to call attention TO the fact
that on the first day of the hearings
before the committee on interoceanic
canals OF the senate OF the United
States. in February, 1906, voluntarily
made an explicit and detailed statement
showing how the 100000 was paid
by tho United States through J. P. Nor
gan & Co., as their agents, to the Bank
Of France at Paris for account or the
new Panama canal company. and also
explaining the subsequent payment of
the full amount to the nquidators Of
the new Panama canal company and to
the liouidators of the old Panama canal
company, who in turn distributed the
same TO their respective stock and bond
holders. numbering hundreds Of thou
sands of persons.
/ further submitted to the senate
committee with the permission OF the
Panama government. detailed state
ment OF the disposition by the republic
OF Panama of the s10,000.000 paid by
the United States to Panama in 1904.
accounting for the payment of the
whole amount and showing the invest
ments and disposition by the Panama
government of every dollar.
On the same public inquiry / fur
ther stated with reference TO the pro-
posed Americanization of the Panama
canal company in the year 1899. and
the proposed formation of syndicate
for the purchase in that year, that
the proposed plan never matured into
anything. 1t was never consumated
either by subscription or by assent.
and IL is obsolete and an impracticable
thing-proved 10 be so. 1t has no life
or force of being. did not exist and
never has existed and is as dead as a
nnOF ff1IiflaEc
gestion of the company which came to
naught and under which i acted as
their counsel only"
TESTIMONY AVAILABLE
The testimony taken by the senate
committee is a public record and was
available to the editors of the News
and the World, and had either of them
been as interested in publishing the
truth as they were TO create a possible
sensation they doubtless would have
taken the pains to publish the above
facts which quote.
Now with regard to the distribution
OF the $4O.00Q,000. II has been made TO
appear in newspaper comments that
there was some mystery connected
with the disposition of this money.
There is no mystery and never has
been The fund in question was paid
into the Bank of France by the United
recent publications J. have made in
quiries in Paris and am informed that
the distribution of these moneys is a
matter of public record; that the
amount received by the liquidator of
the old Panama canal company has
been distributed by him as an officer
of the court to the holders of the obli-
cations of the old company; that these
persons appeared in person at the Of
fee OF the liquidator to receipt for the
moneys paid to them; that they num-
bered 226.296. the largest number of
individuals probably ever appearing in
person on a single business affair and
that the average amount paid was $156.
The complete and detailed record of
these payments. together with the
names and receipts of every person TO
whom payment was made and the
amount of such payment is in the
hands of the liquidator at his office
at so Rue Etienne Marcel. Paris which
is in q prominent and frequented part
of the city near the Bourse. easily
found by any one desirous of doing
so.
The whole story of Americans. or
some American syndicate, buying up
the Panama canal securities at a low
price. or at any price and then turning
them in upon liquidation at a profit is
a fiction and concoction The money
Of the United States went to France
and was distributed to the hundreds
Of thousands of foreign owners. none
Of whom. so far as / know, was an
American.