The evening world., 1909-02-17

OF the said Compagnie tnIverselle d
Canal lnteroceanlQue de Panama
sixty per centum of the net protits, I
be determined In fixed way, arisin
from the operations Of the said Com
pagnie Nouvelle du Canal de Panama
The said Gautron iQudator aforesa
Of the said Compagnie l,nlverselle d.
Canal HETEROGENEOUS de Panama, ais
subscribed for shares or stock In tn
Compagnie Nouvelle du Canal d
Panama. 10 the amount aforesaid, hi
this relation to the Compagnie Nouyell
du Canal de Panama was an entirel,
separate transaction, and was In NJ
wise connected with the consideration
for the transfer. cession and contribu
ton aforesaid.
And thereafter the said Compagn
Nouvele du Canal de Panama continue
the work OF constructing the said lana
across the said lstfmus or Panama, ant
paid to the Republic OF Colombia larg'
sums OF money In consideration OF the
concessions aforesaid and placed ant
had large forces OF men and equipment
at work on the said lsthmus OF Panama
and thereafter the said Compagnie Nou
velle du Canal de Panama continued e
expend large sums OF money In the con
struction Of the said work.
United States Becomes Interested.
Thereafter, and during the time that
| the said Cunpagn!e Nouyelle du Cana
de Panama was thus prosecuting the
actual work OF constructing the said ca
nal, and while the said operations were
In progress, the United States OF Amer.
lea became interested In the project OF
| having maritime canal constructed 10
connect rhe waters OF the Atlantic and
Pacific Oceans and became also interest
ed In the project OF owning such a canal
and OF considering where II could he
most teasibly built And thereafter, TO
wit On the third day OF March. in the
year OF Our Lord one thousand eight
hundred and ninety-n!ne. the Congress
OF the United States OF America passed
law authorizing the appointment OF a
commission TO investigate the subject,
after which said act Of Congress In SUBJ
stance provides
That the President Is authorized TO
make full investigation OF the lsthmus
OF Panama with a view to the construc-
ton OF canal by the United States
across the same to connect the Atlantic
and Pacific Oceans. and is authorized to
investigate all practicable routes across
the Isthmus, particularly the two routes
known as the Nicaraguan and Panama
routes. with a view to determining the
most practicable route for such canal
And the President Is also authorized to
ascertain what rights and franchises
may be held by any corporations or In
dividuals and what work. II Sny, has
been done by them In the construction
OF canal on either Of said routes, and
likewise TO ascertain the cost OF pur-
chasing all Of the said rights and fran
ch!ses, particularly In the Nicaraguan
and the Panama routes, and generally
to investigate fully so as to determine
the most feasible and practicable route
across the Isthmus for canal together
with the cost OF constructing the same
and placing It under the management,
control and ownership OF the United
States. The President Is also author
lied to employ In this service any Of
the engineers OF the United States Army
and likewise engineers In civil life and
any other persons necessary to make
such Investigation and to Ak their com.
pensatlon. And the President Is then
requested TO report TO Congress the re-
suit OF his Investigations with his
recommendations,
Favored Panama Route.
And thereafter such proceedings were
had by the said commission appointed
under the authority OF the said act OF
Congress, whereby the said commits
sion, known as the Walker commission,
from the name OF its chairman, Admiral
John G. Walker. visited the site OF the
Panama. Canal OF the said Compagnie
du Canal de Panama and also the site
OF the said Nicaraguan Canal. and ex-
ahmed the proposed routes and also
any other routes which might be prac-
ticable and the said commission visited
the city ot Paris, France. and examined
the records and technical plans apper.
tanning to the right and properties
owned by the said Compagnie Nouvelle
du Cana de Panama, and thereafter,
on, to Wit. the sixteenth day OF Novem.
Der. In the year OF our Lord one thou
said nine hundred and one, the said
commission published its report setting
forth In great detail their Investigations
In the premises, stating that the Pan
anna route as aftersaid, that Is to say,
the, route OF the said Compagnie Nou.
velie du Canal de Panama for the con.
struction Of the Mari me Canal across
the lsthmus OF Panama In the territory
OF the Republic OF Colombia, connecting
the waters OF the Atlantic and the
Pacltlc Oceans, was the better route:
value OF the holdings Of the said Com.
pagni e NOuvelle du Canal de Panama,
to the United States. to he forty
million dollars, having reached this es.
innate by the appralsement OF the
properties, maps and technical
archives Of the said Compagnie Nou.
Nelle Dn Canal De Panama, owned In
connection with the said Panama
Canal. not having included in said
apptaisement the value of the con-
eessions for which the said Compagnie
Nouvelle du Canal de Panama had spent
a large sum Of money TO wit, the sum
OF four million dollars.
The said commission, In the month NJ
september. IN the year Of our Lord
one thousand eight hundred and ninety
nine. and at different times thence On
down to the month Of November. In The
year Of our Lord one thousand nine
hundred and one, requested the said
Compagnie Nouvelle du Canal dc Pam
anna TO name price FOR the sale Of lis
properties and rights nftersaid but be-
cause the said commission found that
the said Corpagnle Nouvelle du Canal
de Panama was unwilling to definitely
name reasonable price for which II
wnu!d sell It's properties, the said sor,-
mission constituting the direction Of tho
said act as requiring a report OF thel,
Judgment in favor Of the most prac-
ticable and feasible canal route, to be
under the control, management and
ownership OF the said United States
thereupon reported in favor Of the said
Nicaraguan route. And thereafter,
that Is to say, on the fourth day OF
january. IN the year or our Lord one
thousand nine hundred and two, the
said Compagnie Nouvelle du Canal de
Panama, through its council Of admin.
istrat!on, held an official meeting at the
office Of the company, No. Rue Louis
lie Grand, city OF Paris. and unanI-
mons'y decided To make an offer n
liked price for the cesssion to the Gov
eminent Of tho United States of all the
properties aud right which the said
Compagnie Nogrelle du Canal de- ran.
anna possessed on the lsthmus Of Pan.
ANA, without any exception, for the
sum of forty million dollars, and dele
gaiod IN It's President all power IN
transmit that offer and effect and sign
the said occasion
And on the same day aforesaid at
the said company. through one 30, the
President of the board OF the said com
pahF; sent a cablegTam TO the said com.
mission. through one Jules Boefeve
who WAS then the Cnanrnllor NJ tho