Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-12-08
There was also incorporated in New
Jersey with dummy directors the In
ter-ocea1,ic Canal company. q
SYNDICATE AGREEMENT.

Jersey With dummy directors the IN
-oceanic Canal company. IS
SYNDICATE AGREEMENTS.
Senator Morgan unearthed a copy OF
the $5,0O0.000 syndicate agreement
which provided that the subscribers
should contract with William Nelson
Cromwell to pay in s5,000.000 in cash
and to take their, several allotments in
the enterprise.
Five million dollars was more than
ample to buy the majority of the old
Panama stock. AS the World said on
Oct 25:
"'Mr, Cromwell applied to the canal
situation the methods of American high
finance by which a syndicate takes
over the property of a bankrupt con-.
Germ, then creates q holding company
and a recapitalization, keeping the ma
{jority control In a syndicate trustee
ship.
Following that TO quote from Mr..
Cromwell's Testimony, in May 1904, J.,
representing the new Panama canal
and Judges Day and Russell, repre-
senting Atty Gen. Knox, consummated'
the transfer and sale to the United
States.
".Mr. Roosevelt says The government
paid this $4OOOO,OOO direct to the French
government.
: MI. Cromwell says that the United
States paid the money TO j. T. Nor
gan & Go.
Mr.. Roosevelt says The French gov
ernmcnt distributed the sum.
MI. Cromwell testified as to how he
distributed it.
who were the Panama Canal com
Hpany?
who bought up the obligations OF
the old Panama Canal company for u
few cents on the dollar?
Among whom was divided the $lo,-
100000 paid to the new Panama canal
company?
whether Douglas Robinson, who Is
Mr. Roosevelt's brother-in-law. or any
Of Mr.. Taft's brothers associated NM
self with Mr.. Cromwell in Panama eX-
ploitation or shared in these profits
is incidental to the main ISSUE oil let
ting in the light.
'tWhether they did or did not. wheth-
err all the profits went into Nelson
Cronwcll's hands or whatever became
OF them, the fact that Theodore Roose-
welt as president of the United states
issued a public statement about sucn
an important matter full of flagraht
untruths. reeking with misstatenents,
challenging line by line thetestinony
OF his assistant, Cromwell. and the DILL
cial record, makes it imperative that
full publicity come at once through the
authority and by the action OF con-
gress.
mi. Roosevelt talks OF getting inc
receipt OF the liquidator appointed by
the French government to receive the
same
"Mr. Cromwell testified: or the
s45 900 900 paid BY the United states
government, s25,O00,000 was paid to the
jjouidators or the old Panama Ganai
company under and In pursuance OF an
agreement entered into between the ne
liauidator and the new company. "
the balance of $4,000, 900 paid 70 the
New Panama Canal company y, sil,uVs W.,
600 have already been distributed
among the stockholders. and the re
rnainder is now being held awaiting
final distribution and payment
ELOQUENT TESTIMONY.
"Wha d follows is further eloquent
testimony taken by the senate CONS,
mittee: =.
.tsenator Taliaferro; There is sS,-.
s00Q, GD0?,
a.alr. Cromwell: Three million. yes
sir,
=. Senator Taliaferro: Who holds that
money!
Il 10 MIR. Crornwell: The New Panama.
Canal company in it's treasury.
"And vet Mir. Roosevelt says that
the United States government has not
the slightest knowledge as to the dis
tributinn Of the s40,000,000 and that
this was the business OF the frel ti'li
government.
T@..As to Mr.. Roosevelts statement that
there was no syndicate he could have
read the syndicate subscription agree
ment,' on page LILO, Vol IL, of the tes-i
timony before the committee on inter
oceanic carals-if he had cared for the
truth.
.,That the unitetd States govern.
ment was not dealing with the
French government or the liquida-
tor appointed by the French govern
ment,' or with Colombia, or with
Panama, or with any one else except
William Nelson Cromwell and his as
sociates is made still more plain by
the description of Senator j. Ca brlel
Duuue as to the Panama reYolutlon
and as to the manner in winch MT;
Cromwell got $4,000 900 addltionai
from the United states treasury oe ln3
Duque said:
.'Mr. Cromwell made the revolution
He offered to make me president or
the new republic and to see me
through IL I would raise q. small force
of men and declare a session from
Columbia. He made promises that we
should nave Inc 5llelp VI 40 81,
,nent. 1T was accompanied by liberal
use of money. We bought this general
and that one, paying $4,000 to $4,000
per general The Colombian officers
we're all paid off and the Colombia
general who was sent to stop the re-
yolution was also bought OH.
.rhen MI. Cromwell having peen.
elected by the Panama republic as
general counsel, and he and j +.
Morgan having been appointed a ms
cal commission. negotiated with Pre-.
sident Roosevelt by which the United
States paid S10.000,000 more to the
fiscal commission for Mr.. CromWeirs
Panama republic. OF this money three
quarters is still under the control OF
the fiscal commission.
why did the United States pay $4o,
900, 900 for bankrupt property whose
control could undoubtedly have been
bought in the open market for less than
$4,000, 900?
'.who were the Panama Canal com
pany?
who bought NJ the obligations OF
the old Panama Canal company for q
few cents on the dollar? =
..An,ong whom was divided the Sl2.-
100000 paid to the new Panama Canal
company?
..M neither Douglas Robinson, who is
MI. Roosevelt's nrother-in-law, or any
of Mr. Taft's brothers associated him