The evening world., 1908-12-15

to slve any information on the subject
CT the companies for watch he had been
SoMnsei; ThiG government has no con-
Germ with MIR. cromwen's relation to
Lhtse companies, or either of them, or
Win the amount of his professional
ssSSim n Gn,s II was not the affair Of
Ihis Government to inquire who were
the security holders Of the Companies.
Nevertheless, Mr. Cromwell OF his
own accord. has submitted to me. TO-
ge{{h1er win a copy of his statement
transmit herewith, a fun list of the
Stockholders of the New Panama canal
COMPANY of France on Jan Is, 1900
/ numbering over 6,o0Ol. and a list of all
stockholders who were present at a
/ special meeting of the company held
Feb Is 1902 Immediately after the cable
oHer or the company was made TO the
| united states h1an. ell, 1902. to accept
| the appralsement of siO.ocIOnO made by
| the lsthmian Canal Commission. and to
sell for said sum the Panama Canal,
| concessions, and other property, and the
shares OF the Panama Railroad Com
! pany
He has also furnished me certified
copy of the final report Of the liGuida,or
or the old company. which was filed on
June = last and formally approved by
the civil Tribunal of the Seine, together
with summary account prepared and
signed by said liquidator as late as the
s4th ultimo. | also transmit transla-
uon Of the two resolutions. with the
NONt uFbl3 lIIfIll adopted al a meeting
the Stockholders OF the new company
held on April %. 1904, for the purpose OF
finally ratifying the sale
All these documents l herewith trans
NIT as a part of this message. 1t ap-
pears from them that the creditors Of
the old company number 226.2 parties
who have received dividends out Of the
funds in the hands OF the liGuidator.
who. in his letter. states that in this
present month Of December the second
AMI last distribution % the creditors will
be begun and that tie average divide Id
heretofore paid to each individual was
7S2 francs, or sl5s.
No Payment on Old Stock.
NO payment whatever was or will he
made upon the stock OF the old COM
De Lesseps failed, and this cuts out
from consideration al! misleading state
ments regarding a possible purchase
by anybody Of the stock of the old Pam
ceived, and will not receive penny.
Even upon the bonded Indebtedness the
dividend. l am thus informed. Will
amount in the aggregate to only about
10 per cen:um: Il likewise plainly ap-
pears that this distribution by the
lqudator Of the old company has been
openly conducted at his office in Paris.
No. 80 Rue Etienne Marcel. where all the
receipts. accounts and records of mis-
payments are on file
THE New Panama Canal Company OF
France is in liquidation. AS the accom-
pGnying papers set forth. this liQuidated
company received as its proportion OF
the 5000 .oo0 the sum OF 400, 0HO francs
and this amount was distributed by
the liquidation in three payments,
through four leading banks Of Paris.
covering a period of the past four years,
and to shareholders numbering about
5000 Every step Of the transaction
was not only taken publicly. but was.
contempOraneOusly herewith advertised
in the legal and financial papers OF
France. and the banks making the pay
meEts took proper receipts from all the
parties TO whom payments were made,
as is customary in such cases
The capital of the New Panama Canal
Company of France was CO, 100000 francs,
and the distribution thus made amount
ed to about $50 francs on each share of
l06 francs. No dividends were paid dur
ing the ten years of the company's ex-
istcnCe, 1t therefore resulted that the
shareholders only recovered their orig
inal investment with annual interest OF
about per cent.
The accounts ana records, OF this
liquidation, which was concluded in
June last are on deposit with the Credit
Lyonnaiee of Paris as proper custodian
OF the same, appointed upon such liqui-
daiiOu,
Recently a request was made by
private individual to inspect the records
OF iNos" payments, bat answer was made
10y the custodlans that they saw no
~, stranrar AMI ina.66rcb 81 esa
Is not the slightest ground for suspi-
. ~ u"' utI ~, ~ ~
~ al,;as, In. NV 70 maze
s.rrs l have TO doubt that on the re-
~ 40 Iii NJ, ~ na'ts the
., at,sr ~ ,ac, + .s s.,Iwn nm,
Whatever, in which this Government 10
tHteteu " tnVestiBate ABOUT THIS
Trans ION IN, 20 iar Is tn!s Govern
nSnt eoeetneu' eNSty sIeP VI tne
slightest Importance has been made
puhHc ~ Ns Eaeeutive, ana every
step taken IN france mas shers been
maze Panic py the proper oInciais.
The Congress took the action It did
take after tne most minute and ex-
hagstlNe examination ana discussion,
ana the Executive carried out the dlrec-
ton Of the Congress to the letter, Every
act ~ ms Government. every act for
which TINS government had the slight
es' responsibility, was In pursuance OF
the act OF the Congress here, and fol-