The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-07
PANAMA TO MAKE
MONTE CARLO BLUSH
But 1t Will Take $4,000, 900 to
Found the Casino, Says
Paris Prospectus.
40 PER CENT. DIVIDENDS
Therc'll Be a Real World
Wonder in the Orchid
Garden.
40 PER CENT. DIVIDENDS
Special Correspondence 10 THE Sun.

ypecih Correspondence 10 IHr sun.
PARIS, May ga lengthy prospectus
10 being circulated In Paris inviting par
ticipation In underwriting the National
Casino OF Panama, at Panama, which has
been briefly referred to In a cable to THE
SUN. II Is printed In French. issued by
James Francis Browne q Co., as direc-
tors of the syndicate, and begins by say
ing that II has been addressed to the
recipient "at the request of stock
holder In tho Cannes Municipal Casino.
Ltd"
The Panama National Casino Com
pany Is on the point OF being registered"
II says, with a capital OF 100000. d.
vided into s. shares. with. in addition,
10000 bonds as first mortgage OF 500
each. at 8 per cent The bonds may be
converted into ordinary shares at any
time within, fve years. and will be paid
of after ten years. II they have not been
redeemed. A sinking fund OF Si25.000
a year will be formed to redeem the
bonds. at si25."
In addition to a casino. which Is to
have no rival. not excepting even Monte
Carlo, the company will build and carry
On a uIst CldSs UOlti, Win
garden wilicn is to be one OF the wonders
Of the world. AS orchids grow wild
throughout Panama. a garden containing
all varieties will form a most interest
ing feature.
The Climate Defended.
The prospectus treasures those who
imagine that any charge can be laid
against the climate OF Panama. Its tenn
perHture. according to the prospectus,
keeps strictly within the limits of 80 and
20 degrees, and high winds are unknown.
The United States has made Panama one
of the most sanitary and clean towns In
the world. with a lower death rate than
London. II is an Incompatible winter
resort. and has a splendid autumn. though
clere are many days of rain.
a bathing pavilion is to be built facing
a superb shore. and all Monte Carlos at
fractions are to be reproduced. pigeon
shooting, squash courts. tennis and golf.
THE property to be acquired comprises
about $50 acres and has been entirely
acquired" the circular says somewhat
confusedly. Its general appearance re-
sembles Monte Carlo and Monaco, az II
Is divided by the Panama Gulf and IL
ideal for the purpose In view.
AS the affairs OF the Casino are to be
conducted on the highest lines. an ex-
ceptonal board Of directors has been APP
pointed as follows:
Lord Shrewsbury and Talbot. as presi-
dent: John H. Garland. president Of the
Cannes Municipal Casino: Capt. z. Mil
Ter. d. s o., director OF the Cannes Mu-
nicipal Casino: NJ. jacques Regli. direc-
TOR OF the Grand Hotel. Paris; NJ. Sou
caret vice-president OF the Enghien
Casino; NJ. Bertrand. director OF the Ca
bourg Casino.
M. Bluysen, architect TO the French
Government. who has designed some Of
the chief casinos OF Europe. Is to design
the Casino. which Is to be one Of the most
splendid OF Its kind"
Estimate of PROFITS.
In estimating the profits that may be
expected, the prospectus points out that
IN roulette. as played In Panama, there Is
both a simple and a double zero, and that
when either comes up the bank takes all
stakes. so that "the percentage against
the player is two and a half times greater
than that at Monte Carlo"
Chileans, Peruvlans and other inhabi-
tants OF the western coast and southern
America who cross the isthmus to go to
Europe. We are then told, are great gam
blers. Travellers for Australia, China and
Japan will have n twenty-four hour walt
as their boats pass through the canal.
Panama Is one of the most frequented
spots In the world for yachtsmen."
All these considerations encourage tho
prospectors to place dividends at 40 per
cent as n minimum. Then follows this
AS the Casino will operate under a
charter assuring absolute freedom from
all Intervention for twenty-five years and
as Il will enjoy a strategic position without
equal. II is believed that It will remain
unique of its kind.
"Stock quotations will be obtained for
the Paris Bourse" Contained" not asked
for" II may be noted). and a special set
tlcment will be applied for on the London
Stock Exchange. thus giving an interna-
tional market for tho stock and wide ad-
vertlscment
Attention Is called to the present price
OF Monte Carlos 800 shares, over SLIGO.
and the Panama Casino Is expected to do
aa well IL not better Underwriters may
obtain bonds at 30. thereby being allowed
q privilege, rather than asked favor"
As almost all the subscription has been
taken up" prompt application Is advised.