Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-11


whole amount and showing the in
Nestments and disposition by the Pa
mama government of every dollar.
AT the same public inquiry, / FUR
ther stated with reference 20 the pro-
posed Americanlzation of the Panama
Canal company. in the year S99, and
the proposed formation of a syndi-
cate for the purpose, In that year that
the proposed plan never matured into
anything. 1t was never Cousummated
either by subscription or by assent
and il is obsolete and an mpracticabie
thing, proved to be 80. 1t has no life
or force Of being, did not exist and
never has existed, and is as dead as
doornai.
THAT was a fruitless suggestion Of
the company which came to naughL
and under which | acted as iheir
counsel solely.
The testimony taken by the SEN
ate committee is a public record, ana
was available to the editors Of the
News and the World and had either
OF them been as interested in publish
ing the truth as they were to create "a
political sensation they doubtless
would have taken the pains to pub
lish the above facts which | quote.
~ again denounce the statement
wherever published or by whomso-
eevr made. that there was syndi-
cate formed OF American citizens to
purchase the Panama canal and to
sell II to the United States as absu-
lutely and unqualifiedly false and un-
true
"The Americanization plan was an
entirely different matter, II was
project proposed by the company 90
the rivers and harboru committee of
the house and to President Mckinley,
on February %, 1899, and was for
mally authorized by the board of di-
rectors October 10, 1899, subject to
the necessary approval Of stockhold-
ers. The initial steps We're taken by
me in October, November and De-
eember 1899. and company formed
for the purpose, under the laws of
New Jersey no capital stock except
nominal capital Of $4,000 set forth in
the certificate of Incorporation was
ever issued, and nothing further was
ever done by the company as the re-
cords in the office of the secretary
of state OF New Jersey viii show. The
project adopted by the board of di-
reCtors failed of approval by the stock
holders i'm December, 1899 the board
of directors in consequence resigned
IN a body; and the plan then and
there forever ended. The period
covered bS this project was less than
three months; not dollar was paid
in under IL, nor a transaction CON
Quoted by the New Jersey company.
for the reason stated. The plan was
dead ana abandoned over two eyars
before the company finally yielded to
the pressure of the American govern
ment 10 sell "a $4,000 000
Now, with regard TO the distribu-
ton of the $40,0OO,OoO, It has APP
peared in newspapers commenting
that there was some mystery CON
nected with the disposition of this
money There is no mystery, and
never has been, The fund in qucs-
ton paid into the Bank of France by
the United States. produced the net
sum Of 200, 0,000.000f, 12S,G00, 000f be-
ing placed to the credit of the liqui-
dator of the old Panama Canal COM
pany in liquidation, and by said bank
paid to the liquidators. respectively
pursuant to a decision Of arbitration
in Paris, February II. 1902. CON
firmed by the civil tribunal OF the
Seine,
"To the senate committee | stated
that / did not know what distribu-
tion OF the fund had been made, and
that | was in no way concerned or
Interested therein.
THAT statement by me was true
/ had no pecuniary interest in the
canal and il was none Of my busi-
ness personally or professionally who
were the stock holders or bond hold
crs of the company
since the recent publications /
have made inquiries In Paris and am
Informed that the distribution of
these monies Is a matter of public
records, that the amount received by
the liquidator Of the old Panama
Canal company has bxeen distributed
by him as an officer of the court to
the holders Of the obligations of the
old company; that these persons APP
pearrd in person al the office Of the
liquidator to receipt Cor the monies
paid To- them. that they numbered |
226.296 the largest number of in !
dividuals probably ever appearing in
person ON a single business affair and |
that the average amount paid was
sl56. The complete and detailed rec |
ord Of these payments together with |
the names and receipts OF every per- !
s,l TO whom payment was made ami |
naount of such payment Is M hands |
II the liquidator at his ufd,a at c0I
due Fuennc Marcel. Paris which is in |
% Prominent and much freuuruedI /
rat. OF the city near the B1urs" tng-
tly found by any one dtsiriotR ~ DO
ing so.
"As to the fund paid to the now
Panama Canal company y-tha' com
pany at the time of Ia. s1;c OF its
~ operty to tine United Stdtr- won't
into liquidation and / an lsrwis' rr-
Gently Informed that the distrib itiol
pf its assets among its shareholders
was made through four leading banks
ut Paris. the Credit LyonnaiSe, So
riety Generate. Compton National |
W Escompte dc Paris. and Credit In
dustreI Et Commercial in three scpa-
rate paymrnts july l5. 1904, Feb |
ruary 3. 1908. and June Is, l9o1.