The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-12-11
OF the Charges Made Regarding
the Panama Deal.
1T is NOT HIS FIRST
Made Practically Same State
ment in the World
In Its Issue of Oct. 3 of the Cur
rent Year.

son Cromwell has made a statement
in which he said in part:
my attention has been called to a
statement issued by the editor of the
Indianapolis News in which he at
tempts to reply to the charge made by
President Roosevelt that certain state
ments made in the Indianapolis News,
both then and since the recent cleo
tion as relating to the purchase of the
Panama canal by the U. S. were false
and untrue.
1.-The president said:
:" The News gives currency to the
charge that the U. S. bought from
American citizens for $4O,00O,O0
property that cost these citizens only
S12,O0O,0OO. The statement is false.
The United States did not pay a cent
of the $4O,00O,O00 to American citi-
zens'. etc.
From the statement issued in reply
by the editor of the News 1 quote the
following:
1.-The only man who paid any atten-
tion to them, Chat is the criticisms
referred to, etc.) was Mr.. Chas. P
Taft. who did deny that he was in
anyway related to the affair. We had
no word from the president or Mr..
Taft, the other men such as Crom-
we'll and Morgan who were believed
to have full information of the busi-
ness said nothing
+'And he attempts to justify the
publication of the false statements ap-
pearing in his paper by saying that
they were based largely on statements
of the New York World. Criticisms
which were made over and over again
during the campaign were utterly ig-
nored until today
Denied 1t Before.
'"The reply of the editor of the
News furnishes another proof of the
iuSfipa the nTPSidPnt'S cha ctRT-
ization for in the very journal under
whose sheets it now takes refuge.
namely in the New York World of
October 8. 1908 appears an explicit
and unqualified denial by me of the
story referred to and in which used
the following language:
1--we may expect during heated
political contest all kinds of stories
which are not worthy of notice but
this one I wish to denounce in the
strongest terms as lying fabrication
without a shadow of truth In it.
Neither I nor any one allied with me,
either directly or indirectly at any
time or in any place in America or
abroad, ever bought, sold, dealt in or
ever made a penny of profit out of
any stocks, bonds. or other securities
of either the old Panama Canal COM
pany or the new Panama Canal COM
pany or ever received for the same a
single dollar of the funds paid by the
United States. I make this the most
sweeping statement that language can
convey
81 again denounce the statement
wherever published or by whom so
ever made. that there was a syndicate
formed by American citizens to pur-
chase the Panama canal and to sell it 7
to the United States as absolutely and
unqua1ifiedly false and untrue. The /
AmericanizatiOn plan was an entirely i
different matter. 1t was a project /
proposed by the company to the rivers /
and harbors committee of the house |
70, CT MOL [iT11l TNo10 yso7-xrI
81, 1899, and was formally authorized |
by the board of directors October /
10, 1899, subject to the necessary ap- |
prOval of stockholders The initial ,
steps were taken by me IN October. |
November and December, 1899, and a /
company was formed for the purpose /
under the laws of New Jersey of |
carrying out the instructions of my
client. While the certificate of in
corporation of the Panama Canal |
company of America was filed in New !
Jersey no capital stock except the
nominal capital of $5,00O,000 set
tion was ever issued.
Distribution of the Money.
Now with regard to the distribu-
tion of the $40,000,000 it has been
made to appear in newspapers that
there was some mystery connected
with the disposition of the money.
There is no mystery and never has
been. The fund in question paid into
the Bank of France by the United
States produced the net sum of 2O6 (
being placed to the credit of
the liquidator of the old Panama
Canal company and 77,4OO,-
600 francs being placed to the
credit of the new Panama Canal com
pany in liquidation and by said bank
paid over to said 1quidators. re-
spectively pursuant to a decision of
arbitration at Paris February IL. 1902
confirmed by the civil tribunal of the
Seine. i
''Since the recent publication I
have made inquiries in Paris and am
informed that the distribution of these
is a matter of public record;
that the amount received by the liuuf-
dator of the old Panama Canal com
pany has been distributed by him as
an officer of the court to the holders
of the obligations of the old company |
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 offices.
LAS to the fund paid to the new
Panama Canal company-that COM
pany at the time of the sale of it's
property to the United States went into
and 1 am likewise recently
Informed that the distribution of its
assets among its shareholders was
made through four leading banks of
Paris.
Neither 1 nor my law firm nor any
one connected with me ever owned,
stock in the new Panama Canal COM
pany, nor any of the obligations or
securities of the old Panama Canal !
company, nor ever bought or sold any
of the shares or securities of either {