The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-12-15

| the transaction was pending saw MI
| Cromwell but two or three times and
my communications with him were
| limited to the exchange of purely
| formal courtesies. Secretary Hay oc-
| casionally say him in the same man
| ner; I doubt whether Mr.. Root held
| any conversation with him. The at
| torney general saw him frequently as
/ he was counsel for the Panama COM
pany, their communications were offi-
| cial as representing the two sides.
Wholly Uninfiuenced.
The action of the government, he
says, was wholly unfnfiuenced by any
question of who were or were not
stockholders either in the new or the
old company.
''If as a matter of fact" he explains,
the canal company, either or both,
had been owned by American citizens
or by citizens of any other nationality,
1t would not have altered in the slight
est degree the action taken by this
government. Our concern was to get
the canal property which was owned
by the French company, and to see
that the title was clear. Our tranSac-
ton was carried on openly and was
published in detail and we dealt solely
$50 far as the interests of the old
Panama Canal company were con-
cerned) with the liquidator appointed
by the proper French governmental
body, the civil tribunal of the Seine
and it was the decree of this same
tribunal with the new Panama Canal
company which also went into liquida-
ton upon the sale to the United states.
All our transactions were carried on
openly and were published in detail
The president states the money was
paid through the New York banking
house of ]. P. Morgan & Co, acting as
fiscal agents of this government, into
the Bank of France, in Paris.
I'm these payments he says, we
followed to the letter the decree of the
governmental tribunal of France which
had the authority to make such a de-
cree, the civil tribunal of the SEINE
We had neither desire nor authority to
go behind the decree of this proper gov
ernmental body as all the conflicting
rights of the security holders OF both
companies had been settled by the de-
cree of said court by ratification of the
arbitration which resulted in that di-
vision.
II wish to make as clear as possible,
and as emphatic as possible the state
ment that we did not have anything to
do with the distribution of a dollar OF
the $40,000,000 we paid as regards any
stockholder or bondholder of the French
ca pitaliStS, 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 proper
ton to the old company and certain
proportion to the new company Any
question concerning the stockholders,
bondholderS or other benefciarieS of the
proceeds of sale was purely question
for the civil tribunal OF the seine the
French governmental body, with which
this nation had nothing whatever to
do.
Nothing to Do With Cromwell.
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 con-
Germ with Mr.. CromwelPS relation to
= kl71e- les nTs al n.
with the amount of his professional
compensation; it was not the aHalr
of this government to inquire who were
the security holders OF the companies
Nevertheless Mr.. Cromwell, of his own
accord, has submitted to me together
with a copy of his statement published
on the 11th instant, and which trans
NIT herewith, full list or the STOCK
holders of the new Panama Canal COM
pany of France on January 10, 1900
Numbering over $1,000 and list of all
stockholders who were present at a
special meeting of the company held
February %, 1902 Immediately after the
cable offer of the company was made
to the United States. (January 5-1l,
1902 to accept the appralsement OF
$40, 900, 600 made by the Isthmian canal
the Panama canal. concessions, and
other property and the shares of the
Panama Railroad company"
Referring to accompanying docu-
will be made upon the stock of the
old Panama Canal company and he IS
informed the payment on the oonded
indebtedness will be but ten per cent |
About 5000 shareholders of the new
Panama company will receive pay
ment and they will recover their |
original investment with annual in
terest of about three per cent.
''The accounts and records of this
liquidation which was concluded IN |
June last" he says ARE on deposit (.
with the Credit Lyonnaise Of Paris as |
a proper custodian of the same ap- !
pointed upon such liquidation. Re /
Gently a request was made by pri- !
vate individual to inspect the records |
of these payments, but answer was |
made by the custodians that they saw
no proper reason for granting such !
request to a stranger, and inasmuch |
as there is not the slightest ground |
for suspicion of any bad faith in the !
transaction it hardly seems worth /
while to make the request; but if the /
congress desires have no doubt that |
on the request of our ambassador in !
Paris the lists of individuals will be
shown him.
''As a matter of fact. there is moth
ing whatever in which this govern |
ment is Interested to investigate about |
this transaction. So far as this gov |
ernment is concerned every step of !
the slightest importance has been |
made public by its executive and every |
step taken in France has there been |
made public by the proper officials"
BIGGY'S BODY FOUND.