The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1908-12-18

NIfs out W lat lileii attorney = l'!'.l,
Mr.. ~. G. Knox. at !nese.., se.&tul
from PENNSYLVANIA. ! directed ii .l-
proud every action. and am Responsible
for III that MAS done in carrying ct
the sin of tn" congress: ana the !,.p-
visions Of the law enacted b. c.nstoas
aftui exhaustive examination ai.G dis
cusAom wer. s~crupuiusisly c|ou.piie,A
witt by the executive. wmle tie tr:n-
saetion Was pending +! SAN MI. pom
We'll bu two or three times ana my
communications with him We're l%ifnitot
to The exchange of purely formal Goua-
trsH. Secretary Hay occasionally saw
in the same manner; ] Gcl.ll
whether Mr.. Root held any conve.<:.-
ton With MIN. The attorney general
saw him frequently. as he MAS counsel
for the Panama eohapanS. thei: e"iA-
lnunicatiunS We're official as rcpresent-
ing the Iwo sides"
The action of the government. NO
says. was whony uniniuenced Ny any
question oft Who Mere or were ROT
stock holders either i'm the rew ur "ld
company.
Transactions Were Open.
IF. as I, matter OF fact. lac explains,
the canal company, i,her or botil,
had been owned by American citlIe,S
or by citizens of amy other natioralirN
ii would not have altered in the slight
IS, degree the action taken by This
government. Our concern Was &c get
the cana property. which Was owned
by the French COMPANY and to see tfi''t
the title was clear. Our transactions
We're carried OH openly. and were lab-
lished in detail. and we dealt soletN ~"
far as the interests of the old Panama
company We're concerned) with tlie
liquidator appointed by the proper
French governmental body. the civil
rribuna of the Seine II in accordance
With the decree of the same tribunal
fh. "a banana Canal punNl,INN.
which also went into liquidation upon
the sale TO the United States.
Morgan Handled It.
The president states that the money
MAS paid through the New York BANK
ing house of J. p. Morgan 8 Co. ac,e
ing es financial agents OF this goverI.-
lnent. into the Bank of France, in
Paris.
I'm these payments" he y we
followed to the letter the decree of the
governmental tribunal of France
which had the authority to make such
a decree the civil tribunal OF the Seine.
We had neither desire nor authority
tc go behind this decree OF this roper
governmental body. as all the conflict
ing rights OF the security holders OF
both companies had been settled by
the decree of said court by ratification
OF the arbitration which resulted i'll
that division.
Il wish to make as clear as possible.
and as emphatically as possible. the
statement that We did not nave any
thing to do with the distribution OF a
dollar of the $4,000 900 we paid as
regards any stakeholder, or bondholder
of the French COMPANY, save that we
followed out the award of the arbi-
traitors appointed in accordance with
the decree Of h French court. which
had dealt with the subject i'll awarding
a certain proportion to the Old COM
Y1Snv and "a tecfain nrOnnrf}0n fn fl1e
nav company. Any question concern
ing the stockholders. or other benefi-
Charles of the proceeds OF the sale was
purely a question for the civil tribunal
Of the Seine. The French govern
mental body. with which this nation
had nothing whatever to do.
Cromwell Supplied List.
Under these circumstances there
was not the slightest need for MI.
Cromwell to give any Information Ola
the subject of the companies for which
lie has been counsel. This govern.
wells relation to these companies or
either OF them, or with the amount Of
his personal compensation: 1t was not
the affair Of this government to in
Quire who were the security holders OF
the companies. Nevertheless. Mr..
Cromwell. of his own accord has sub
mitted to me, together with a copy Of
his statement published on the nth
instant, and which l transmit herewith.
q full list of the stockholders Of the
new Panama Canal company. OF
France. on January Is. 1900. CNulnber-
ing over $1,000 n a list of all stock
holders who were present at u special
meeting of the company held February
rs. 1902. Immediately after the cabl
offer OF the p was made to the
United States (Jan. 9-11-19O2) to ac-
cept the appraisement of $4,000, 900
made by the lsthrnian Canal commits
sion and to sell for said sum the Pana-
ma canal concessions and other prop
erty, and the shares of the Panama
Railroad company.
ments the president SAYS no paymen
will be made upon the stock Of the
old Panama Canal company and he is
Informed the payment on the bonded
Indebtedness will be but 10 per cent.
About 5000 shareholders OF the new
Panama company will receive pay
ments and they will recover their orig
N Investments With IN interest
of about 3 per cent.
Records on Deposit.
The and records of this
liquidation which was concluded in
June last" he said. are on deposit
with the Credit Iyonnaise Of Paris, as
a proper custodian OF the same. APP
pointed upon such a liquidation.
Recently a request was made by Il
private individual to inspect the rec
ords Of these payments, but answer
was made by the %custodians that they
saw no proper reason for granting such
request by a stranger. and, inasmuch
as there is not the slightest ground for
suspicion OF any bad faith in the trans
action 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 government
Is interested to Investigate about the
transaction. So far as this government
is concerned every step of the slight
est importance has been made public
by it's executive and every step taken
in rance has there been made pub
lie by the prope Official .
MIcHiGAN's OFFICIAL VOTE.
Lansing. Mich. Dec. E.-The state
board OF canvassers met here today
and canNaSSe1 the announced ..,,. -