Morning Oregonian., December 21, 1903, Image 1

v
rfptwam
PORTLAND, OREGON, MONDAY, DECEMBER '21. '1903.
PRICE FIVE CENTS.
VOL. XLIIL NO. 13,425.
STix
AT THE TOP OF THE LIST FOR MERIT
0AKW00D MALT
THE CANADIAN MALT WHISKEY
MOST OFTEN IMITATED
ROTHCHSLD BROS.
PACIFIC COAST AGENTS
XMAS KODAKS
OUR PHOTOGRAPHIC DEPARTMENT IS
OPEN EVENINGS UNTIL XMAS
BLUMAUER-FRANK DRUG CO.
142 TO 146 FOURTH STREET
Am
DR.
EAT
AKES
"There's Life and Strength In Every Drop"
A BEVERAGE OR A MEDICINE
For Sale by all Druggists.
BLUMAUER & KOCH, Sole Distributers, Wholesale Liquor ana Cigar Dealers
li&tEil
PHIIi METSCHAN, Pres.
JEVEHTH ARD VASHInCTOR
CHANGE OF
European Plan
THE PORTLAND
PORTLAND,
American Plan
Also European
Plan. Modern
Restaurant.
COST ONE MIIIIOX DOIXAKS.
HEADQUARTERS FOR TOURISTS AND COMMERCIAL TRAVELERS
Special rates made to families and single gentlemen. The manage
ment will be-pleased at all times to show rooms and give prices. A mod
ern Turkish bath establishment In the hotel. H. C. BOWERS, Mgr.
MONOORAMS ENORAVED ON a
TATWBY FOR ClISTiS !
Wedding and" Visiting Card Engravers
Third Floor, Washington Building
When There Is a Heating Plant Which Does
not give satisfaction you will find upon investigation that it
WAS NOT installed by
THE W. G. McPHERSON CO.
Heating and Ventilating Engineers PORTLAND, OR., U. S. A.
HDJEES' PRESIDENT DEFIANT
Says No Law Compels Him to Keep
Away'From Pueblo.
DENVER, Dec. 20. President Charles
H. Moyer, of the "Western Federation of
Miners, arrived In Denver from Pueblo
today. Ho was taken to the train and
ordered to leave Pueblo Friday night,
but at the depot he gave his escort 'the
slip and returned up town on a street-car,
he says. Since then he has been at an
other hotel In Pueblo until this morning
when he left for Denver.
Mr. Moyer says there Is no law which
compels him to stay out of Pueblo and
that In a few days he Is going to return
and that he will organize the employes
at the steel works if it takes him a year
to do so.
In Memory of Episcopal Bishops.
NEW YORK, Dec. 20. Services In mem
ory of the life and labors of the Right
Rev. Ablel Leonard, bishop of Salt Lake
City, and the Right Rev. James Ingle,
bishop of Hankow, China, were held to
day In St. Thomas' Episcopal Church.
Bishop Worthlngton, of Nebraska, con
ducted the services, assisted by Bishop
Well, of Spokane.
IN BOTTiES Never la Balk.
Trial sire 25 cents
Medium size SO cents
Large size $1.00
FOWLER'S
and JVl
ALT
USCLE
C. W. KNOWLES, Mgr.
STEEETS. POBTUKD, OSEGOX
MANAGEMENT.
$1.00, $1.50, $2.00 per Day
J.G.MACK&CO.
Exclusive
Carpet House
86-88 THIRD STREET
Opposite Chamber of Commerce
OREGON
$3 PER DAY
AND UPWARD
BRYAN VISITS C0TTNT TOLSTOI
Nebraskan Man Tells of Fourteen
Hours With Russian Author.
ST. PETERSBURG, Dec. 20. William J.
Bryan arrived here today. Mr. Bryan
I said he spent 14 hours with Tolstoi Frl-
' day last, arriving before breakfast. Ho
rode half an hour with Tolstoi, who then
, insisted that Mr. Bryan should take a
j siesta while the author wrote.
i Tolstoi's physician laughingly said he
-was sorry that the author had curtailed
1 his dally exercise through the fear of tir
ing Mr. Bryan. The conversation between
! Tolstoi and Mr. Bryan took the. widest
range.
While Mr. Bryan was dining with Am
bassador McCormlck at a restaurant to-
, night, the servants rushed In with the
news that Mr. McCormlck's house was on
fire. It turned out, however, that only a
chimney was ablaze, and the fire was soon
extinguished.
i
Joliet Steel Mills Idle.
JOLIET, 111., Dec. 20. The three main
departments of the Illinois Steel Company
at Joliet are now Idle, the billet mills
having been ordered to close tomorrow.
About 1500 men are affected. The dura
tion of the shut-down Is not stated.
M.
BIGHNM
Lumbermen Differ Over
Sliding Scale.
PRICES MAY GO TO PIECES
Northwestern Millmen Don't
Agree With Californians.
GREAT SECRECY IS OBSERVED
Combine's Agreement, Which Has
Been. In Effect for Two Years,
Expires Soon, and New One
Is Not Yet Signed.
The lumber interests of the Pacific
Coast are In danger of being thrown into
a state of demoralization that will re
sult In the loss of millions of dollars.
"Unless articles of agreement between the
various Interests represented In the ex--port
branch of the Pacific Coast Lumber
Manufacturers' Association, are adopted
for the next two years, the industry of
the whole Coast. It Is alleged, will suffer
almost irreparable damage. Members of
the combine say that Oregon and Wash
ington will suffer to the extent of not
less than a million and a half dollars
per year.
The Impending break Is the direct out
growth of a difference between the rep
resentatives of the California mills and
those of Northwestern mills, over one
article of the agreement that has held
the lumbermen of the Coast together, se
cured uniformity In export prices and
In the grading of lumber. The bone of
contention Is the clause providing for
the levying of penalties upon mills guilty
of overproduction and the division of
these pooled penalties among the mills
that fall to supply their quota. The
Northwestern lumbermen want to adopt
the agreement that has been In effect
for the past two years, as It stands. The
California people insist upon a modifica
tion of it. They desire a sliding scale to
apply under certain contingencies. Just
what these contingencies are, the lumber
men refuse to state. Some say that the
plea .for a. modification Is based upon a
mere technicality. Others aver that the
California representatives don't know
what they do want. However this may
be, both factions are holding out for their
contentions. In the meantime the fate
of the lumber Industry hangs In the bal
ance.
The question that Is agitating the lum
bermen of the Northwest particularly. Is,
Will an equllbrlum be maintained or will
the bottom drop and the foreign lumber
market become a dreary wreck oh the
financial sea? If a truce can be patched
up between the warring factions In the
export or cargo branch of the association,
all will be smooth sailing. If this Is not
done, prices on export lumber, It Is said,
will drop at least $4 and the Industry will
find Itself in a complete state of disrup
tion. The optimists among the dealers
believe that a satisfactory settlement will
be brought about and that all will be well.
Others feel rather blue over the pros
pects. Old Agreement Not Signed.
The disagreement between the two fac
tions came to the surface on
Saturday at a secret meeting of the
export branch of the association, which
was held in the Portland Hotel. The
meeting was called for the purpose of de
ciding upon the readoptlon of the old
articles of agreement for the next two
years, but it was forced to adjourn with
out accomplishing this end. As the
present articles of agreement expire on
the last day of this month, efforts are be
ing made to avert a catastrophe by hav
ing a committee appointed to arbitrate the
existing differences if possible.
The cargo or export branch of the as
sociation Is one of the most Important
divisions of the parent organization. Its
part in the general scheme Is to provide
and maintain uniform prices on export
lumber, apportion the output of mills ac
cording to capacity, and maintain a uni
formity In the grading- of lumber. As a"
resoilt of the work of this branch, a base
rate of $14 on export lumber has been
maintained, and It is the unanimous opin
ion of lumber manufacturers that the or
ganization, has done an Invaluable service
to the lumber industry of the Pacific
Coast.
In order to provide against the over
production of some mills to the disad
vantage of others, it was found necessary
to insert in the articles of agreement, a
clause providing that the output jof each
mill should be reckoned upon a basis of
Its capacity, and a penalty provided for
those mills that turned out an overpro
duction. The fines secured from this
source are pooled and divided among the
mills that fall to supply their quota ot
the general output.
This clause Is the stumbling block that
threatens to wreck the export Industry,
and react upon the entire lumber in.
terests.
Old Articles Satisfactory to Some.
When the meeting was called Saturday
and the articles of agreement were pre
sented for adoption, the trouble pot be
gan to boll. The representatives from
Oregon, Washington and British Colum
bla were In favor of standing by the
agreement that has been found successful
In the past Their desire to abide by its
terms amounted to determination to do
so.
The Californians promptly took the floor
with a proposition to modify this par.
tlcular portion of the -agreement. As It
stands It provides for a uniform scale of
fines for violation of the output agree
ment. From what can be dug from under
the blanket of mystery thatcovers the
matter, they want an amendment pro
viding for a sliding scale ot penalties to
be inforced in case of certain contingen
cies arising. The Hp3 of the lumbermen
are sealed when the subject of the nature
of these contingencies Is broached. But
from what can be learned "one contention
of the Californians Is that In. case extra
demand should become an Incentive to
overproduction In one district, a sliding
scale of penalties should maintain,' pro.
viding for a less fine, in such instances.
In other words, lb Is intimated that the
Californians want to indulge in a little
overproduction at bargain-counter prices.
"The whole difficulty arises over a mere
technicality," said a lumberman last
night. "The matter is so tangled up that
they really don't know what they want.
With them it Is a case of 'If you won't
play my way, we won't play.' They have
a pet scheme and want this agreement
written their way. We don't, and there
you are. I don't see that -they would
be benefited to any great degree it they
got things their own way. But we have
tried the present scheme and find that Jt
Is satisfactory. We see no cause for a
change, so why change?" ,
Committee Appointed to Make Peace
The warring factions picked the crow
even to the plnfeathers. But without
avail. No agreement could be reached. It
was suggested during the meeting that a
compromise might be patched up If there
were less fingers in the pie. It was ac
cordingly decided that a committee of
three should be appointed to make a thor
ough Investigation of both sides and see If
a settlement could not be reached that
would permit of the articles of agreement
being adopted. As this must be accom
plished before the first of the new year
to prevent disaster, the committee will
lose no time In Its work. Those who have
been Intrusted with the fate of the ex
port lumber Interests are E. A. Skinner,
of Port Blakeley; J. M. Alexander, of
Vancouver, B. C, and R. L. McCormlck,
of the Weyerhaueser syndicate. The
action of these men-will be watched with
anxiety by lumber men from British Co
lumbia to California.
"If the articles of agreement are not
adopted for the next two years, the lum
ber Interests of the whole Pacific Coast
will suffer untold loss," said a lumberman.
"In its present demoralized condition It
cannot stand another blow. If the agree
ment Is not sustained export prices will
go to pieces. The present base rate Is
$14, but a failure to renew the agreement
will cause It to drop to at least 510. The
mills are running now at a loss, and a
further reduction in prices, such as this
would cause, would ruin the business. The
foreign market would go to pieces.
"Such a contingency as threatens to
arise, would cause, the loss of not less
than $1,500,000 a year to the lumber In
dustries of Oregon and Washington alone.
This is an enormous loss and one that
could not be stood long. At present there
Js a surplus ojt timber on hand that the
mills are unable to handle, and this re
duction In export prices would only in
crease the tie-up.
Logging Camps Would Close -Anyway
"Of course at this-time of the year the
logging camps are- closed down, on ac
count of weather, but were It not for this
reason they would be closed because of
the surplus of logs. There are now In
the waters tributary to the Columbia,
over 150,000,000 feet of logs. The mills can't
handle the supply and the logging camps
cannot be reopened until this surplus is
disposed of. The home lumber market Is
bad enough now, but what would it be if
It were flooded with lumber that should
go to foreign markets?"
The present surplus of logs Is attributed
to the boom in prices of timber about a
year ago. This boom caused many people
to branch out Into the logging business
and the country was surfeited with log
ging camps. These have been worked un
ceasingly and the supply has piled up
much faster than It could be handled.
The lumbermen are decidedly uneasy
about the outcome and are reluctant to
give any expression of opinion about the
situation and the causes leading up to It,
lest some straw be placed in the way of
a satisfactory settlement.
Typhoid Deaths at Butler.
BUTLER, Pa., Dec 20. Three deaths
from typhoid fever and three new cases
were reported today. The physicians re
port a steady improvement In the general
situation, except that as the epidemic
subsides, deaths become more frequent
among those who have had relapses.
FORCED PORTE TO APOLOGIZE FOR THE ASSAULT
ON THE AMERICAN MINISTER
JOHN G. A. IRISHMAN, UNITED
PORTE IS SOHBY
Accedes to Demands of
United States.
APOLOGY TO CONSUL DAVIS
Governor of Alexandretta Is
.the Mouthpiece.
LEISHMAN GAINS HIS PJ3INT
Police Officials of the Turkish Town
Will Be Punished, and Natural-
ized American May Depart
Without Hindrance.
CONSTANTINOPLE, Dec 20. The Porte
has agreed to the demands of the United
States Government and ordered the Gov
ernor of Alexandretta to make ample apol
ogy to Consul Davis for the insults and
assault to which he was subjected by the
police of Alexandretta while he was es
corting to a departing steamer a natur
alized American citizen named Attarlan,
who had been liberated from prison
through the Intervention of Mr. Davis.
United States Minister Lelshman arrived
at a friendly understanding with Tewflk
Pasha, the Turkish Foreign Minister, who
agreed to the demands of Minister Lelsh
man. The Porte notified the United States Le
gation orally and In writing ot the in
structions telegraphed to the Vail of Al
eppo to order the Governor of Alexan
dretta to call on Consul Davis immediate
ly upon his arrival at Alexandretta and
offer to him a complete apology. The Porte
also has promised to punish the police of
ficials who assaulted Consul Davis and
will allow Attarlan to depart unhindered.
CELEBEATI0N AT NEW 0ELEANS
Immense Enthusiasm at Centennial
of Louisiana Transfer.
NEW ORLEANS, Dec 20. Under the
sunniest skies today the Stars and Stripes
rose to the top of the tall staff In the
r historic Place d'Armes amid cheers, the
ringing of cathedral bells, the? roar of
cannon, and the centennial celebration of
Louisiana transfer ended" In a burst of en
thusiasm. The day's exercises opened with the
pontifical mass In the old St. Louis
Cathedral, built while the Spaniards were
still In possession of Louisiana, a shrine
to which Andrew Jackson went Imme
diately after the battle of New Orleans
to hear the high mass of thanksgiving
sung for the victory of the American
Army. Festooned In the great nave were
the flags of the three celebrating nations,
Spain, France and the United States.
The Immense auditorium was crowded
with a representative congregation. Arch
bishop Chapelle officiated in the celebra
tion of mass. The regular choir of the
cathedral was supplemented with the prin
cipal artists of the French Opera Com
pany and a full orchestra. Rev. Father
de Lamorlnlere, the Jesuit orator,
preached an eloquent sermon, and Arch
bishop Chapelle spoke briefly.
Following the mass there was a replica
In the Caboldo of the scene and events of
a century ago. The treaty of cession,
the powers of the commissioners and the
declaration of Dausaut, placing the Amer
ican Commissioners In possession, were
read In turn. Then the keys of the city
were delivered and the proclamation of
tho American Governor was read.
The ceremonies 'concluded, at a signal
the American flag rose- to the high staff In
Jackson's quarters, while the Washington
artillery thundered a salute. In the river,
within view, were the six American and
French warships. The Spanish cruiser Rio
de Laplata was delayed by bad weather.
She was given a welcome when she
reached the city just after the Caboldo
exercises were concluded.
One of the features of the celebration
"I
STATES MINISTER TO TURKEY.
has been the popular Interest in the Span
ish representation. Senor Tuero y Odon
nell has been the recipient of unusual attention.
SCHOONERS DRIVEN ASHORE.
Crews Have Terrible Experiences on
the Newfoundland Coast.
ST. JOHNS. N. F., Dec. 20. During a
fierce blizzard yesterday the schooner,
Susan, was driven ashore off St. Johns.
Her crew, after 12 "hours tn an open boat,
made port this morning badly frost-bitten.
The schooner, Mary Ellen, went ashore
at Trepassy. The crew clung to the rocks
all night and suffered terribly from, ex
posure. The schooner, Fashoda, went ashore at
Greens Island. The crew escaped.
It is feared that the schooner Dictator
has foundered with her crew of seven
men.
Rise In Frozen Ohio River.
CINCINNATI, Dec. 20. With the Ohio
River frozen over and great gorges at
many places a rise of nearly three feet
today threatens danger for all kinds of
craft.
Southwest Gale on Maine Coast.
PORTLAND, Me., Dec. 20. A terrific
southwest gale has prevailed along the
coast today, reaching a velocity of 50
miles an hour outside the harbor. The
gale did much damage in the city to win
dows and electric light wires.
Steamboatmen Greatly Alarmed.
EVANSVILLE, Ind., Dec 20. Owing to
the heavy rains last night there Is alarm
among steamboatmen for fear the large
gorges between this city and Louisville
will break.
TOAST ANNOYS THE ENGLISH.
Claims for German Troops at Water
loo Pronounced Preposterous.
LONDON, Dec. 2L Considerable resent
ment in shown In the English press over
the reference to Waterloo made by Em
peror William on Saturday at a banquet
in Hanover In honor of the anniversary of
the Hanoverian Regiments, when the Em
peror said he raised his glass "to the
health of the German legions In memory
of their Incomparable deeds which. In
conjunction with J3lucher and the Prus
sians, rescued the English army from de
struction at Waterloo."
The Chronicle, the Standard and other
papers protest this morning against what
the Chronicle calls the Emperor's "pre
posterous claims."
Redaiond's Wrath Aroused.
LONDON, Dec. 20. John Redmond,
speaking at Bunningagaln, County Sllgo,
Ireland, today, protested against the de
cision against the legal officers at Dublin
Castle which, he said, prevented the prop
er orperatlon of the Irish land act In
congested districts, by enabling landlords
to combine in a refusal to sell grazing
lands.
He declared the decisions were gross
violations of the government's pledges,
and said that tho. Irish party would de
mand their amendment in tho coming
sessto of Parliament.
General Crow Needs Recuperation.
ST. LOUIS, Dec. 20. Attorney-General
Crow, whose health has been broken down
In his Incessant fight to convict the Mis
souri legislators charged with boodllng,
has decided to go to Redlands, Cal., to
recuperate. He is suffering from nervous
prostration.
CONTENTS OPJTODAY'S PAPEB
National.
Secretary Root says that General Wood's pro
motion Is la the regular order or seniority.
Pago 2.
Centennial of Louisiana, transfer celebrated
with great pomp at New Orleans. Page 1.
Commissioner to the five civilized tribes says
work will bo ended In 1005. Page 2.
Panama.
Clark Howell, editor of the Atlanta Consti
tution, strong In defense of the President's
Panama policy. Page 4.
President Schurman. of Cornell, says the
United States tias forced Into action In
Panama. Page 4.
Third letter from special correspondent on
the making of the Panama Republic.
Page 1.
Foreign.
The Governor of Alexandretta ordered to
apollglze to Colonel Davis; Attarlan allowed
to depart. Page 1.
Japan has not sent an ultimatum to Russia.
Pago 5.
Russia is said to have denied demand of
Japan for acknowledgement of Japan's su
premacy In Corea. Page 5.
W. J. Bryan has -a fourtcen-hour visit with
Count Tolstoi. Page 1.
Reports from Haytl and Santo Domingo show
great unrest in Island Republic. Page 5.
Domestic
Archbishop Qulgley says tho Government
must provide separate schools for Catholics.
Page 4.
Ruised at races, Roscoe W. Derby, a Cleve
land, O., machinist, carries out carefully
planned murder of family. Page 13.
Woman's body found In low dive, mutilated
as If by Jack the Ripper. Page 13.
Pacific Coast.
Poker and "the ponies" are played at
Seattle, other games are in disfavoV. Page 3.
Six persons die In San Francisco from ac
cidental Inhalation of gas. Pago 4.
Annual report of the "Whito Pass & Tukon
Road shows a falling off In earnings.
Page 10.
Marine.
French bark Europe, last wheat ship for the
year will clear today. Page 13.
German ship Arthur Fltger completes West
Coast lumber cargo. Page 13.
British ship Ancaois came from 'Frisco In
charge of a Coast pilot. Pago 13.
Hammond Lumber Company will build two
new steamers. Page 13.
Sport.
Mike Fisher Ryan declares his purpose to
go to Tacoma, Page 12
All-Oregon football team Is expected to glvo
Multnomah a hard tussle. Page- 12.
Portland and TIclnlty.
California lumbermen fail to renew agree
ment under which Coast comblno has
worked for two years. Page 1.
Tax levy for city expenses will be a mill
and a half less than last jear. Page 10.
Malcolm Moody favors presentation by state
to Government of right ot way for Celllo
Canal. Page 14.
Logging dam on Coweman River breaks and
flood results. Page 5.
Fraternal societies will co-operate In con
structing building at Fair. Page 11.
Representatives of Japanese Steamship Line
think Oriental rale war will end soon.
Page U.
Rev. Mr. Small discusses card playing, danc
ing and theater-going. Page 10.
Soaml Ram describes condition ot the
Hindoos. Paga 10.
Republican members of the Legislature In
h caucus this afternoon will block out course
of procedures. Page 4.
CIO OF GREED
PanamaRepublic'sBirth
Due to the Canal.
PATRIOTS WERE FEARFUL
Push From Railroad Needed
to Brace Them Up.
PURELY A BUSINESS MATTER
Stockholders Saw in Creation of New
Government Chance to Dispose of
Holdings That Produced No
Revenues.
r
Backed by the advice of resident
Americans, the Panama revolution
was a bloodless affair.
Oppression of Colombia was resent
ed, but residents of the isthmus could
not see the way out of their difficulty
until, under advice of Americans,
rich men. with most to gain or lose,
were at the head of the movement.
Unofficial Interviews were had with
Secretary of State Hay, in order to
determine the feeling of the United
States In tho matter. Dr. Amador,
on hl3 -visit to New Tork. fell in with
Buna-Varllla, who aided Immensely
In the affair.
"With promises of much silver, after
ward paid, the Colombian General in
command on the isthmus, and the
commander of the Colombian gun
boat, were Induced to take part. A
battalion of 70, whose fidelity to
Colombia was suspected, was sent on
an expedition from which they never
returned.
t inn MixiiiumiiA,
LETTER NO. 3.
By Merrill A. Teacue. x
(Staff Correspondent ot The Oregonlan.)
PANAMA, R, P.. Dec. 10. As has al
ready been stated In this correspondence,
the Republic of Panama owes its existence
to nothing which bear? any resemblanco
to Panaman patriotism. The new nation
Is the child of greed, conceived of the pro
ject of a ship canal connecting tho At
lantic and Pacific.
The story of the republic's conception
and birth reads like a fairy tale. Panama
that la. the better class of Panamans
has for years dreamed of independence
of Colombia and Immunity from Colom
bian oppression, but they lacked the power
of initiative, preferring to put off until
"manana" the attempt other people would
have made today. The canal project -forced
the issue, however, and the leaders
among the Panamans met it in a manner
which must, in time, win the admiration
of the world, for. as a political trick, they
did that which is without an equal, over
turning a government and setting up their
own independence without firing a shot or
spilling a drop of blood. That success
was made possible because of the certainty
of support of the United States doe3 not
lessen the magnltudo of the Panaman
achievement.
Early in the current year Mutlc Durand
was Governor of the Department of Pan
ama. Ha had been sent to preside over
the department from one of the other de
partments in the Colombian Federation,
and was essentially an antl-Panaman.
It happened, therefore, that when the
Hay-Herran treaty had been ratified at
"Washington and when the question of
ratification was about to come before the
Colombian Congress that he, v. ho had the
power of appointment of the representa
tives from. Panama, saw to it that there
should go to Bogota a delegation which
would not oppose any schema Colombia
might evolve.
Panama, enthusiastic for the canal,
recognized at once that Durand had
named men who were inimical to the par
amount Interest of the department, and
at that moment the scheme for Panaman
independence began to assume shape.
Railroad as a Liberator.
This was in May last. Common report
and formal statements made by those who
were In the movement at the timo of its
Inception gave to Dr. Manuel Amador
Guerrero, who is now in the States In
company with Frederick Boyd and Con
stantino Arosemena, as a member of the
commission appointed to negotiate a canal
treaty, credit for having launched the in
dependent movement. But while Dr. Am
ador Is deemed the father of Panaman
independence, it Is doubtful if so much
credit actually belongs to him. Rather
It is logical to assume that the officials
of the Panama Railroad, nearly every one
of whom Is an American, are the more re
sponsible parties.
The railroad corporation, which owns a
splendid piece of property and which is
doing a thriving business in transisthmlan
traffic, has for about 14 years been de
voting the whole of Its net earnings to
defraying the expenses of the work neces
sary to keep the canal concession held by
the New Panama Canal Company alive.
The stockholders have rpallzed nothing
from their Investments in that period,
and, as the United States has agreed to
purchase the property for 57,000,000, every
body connected with the railroad, aa
stockholders and managers, has been fev
erishly anxious for actual consummation
of the canal project. Upon that consum
mation depends their ability to unload
their holdings on the United States Gov
ernment, and those who are really in tho
secret of Panaman independence give
(Concluded on Page 4.)
Di 1 04.2
K