The Panama Canal Panic

Feilding Star, Volume X, Issue 73, 18 December 1888, Page 2

The Panama Canal Panic

By Electric Telegraph. — Copyright (PEB UNITED PR.SS ASSOCIATION ) Paris, December 14. M. de Lesseps, weeping with joy, assured the subscribers that the Panama Canal Loan was cafe, and their enemies yere confounded. The latter discovered that only one-sixtb had been subscribed. A crowd surging round the office of the Company insisted on seeing M. de Lesseps nimeelf. His son said "that his father was sanguine, but he thought nothing remained but bankruptcy or winding up the Company, The announcemeut cattsed the greatest excitement, as sixty millions sterling of public money is invested in the affair. December 15. The Panama Interest Bill being referred to a hostile committee, M. de Lesseps and three of his colleagues on the board have resigned. Three liquidators have been appointed. The company suspended payment on Friday. The Committee of the Chamber of Deputies appointed to report on the Panama Canal scheme recommend the rejection of the Bill introduced by Government rendering assistance, and add that* the Chamber had no right to legislate on such a matter. The Government took a division on the Bill, when the measure was rejected by 262 to 188. December 17. The Boulangeriet journals violently assail the Chamber of Deputies for abandoning a million citizens to ruin by rejecting the Panama Bill. The excitement in the city is becoming hysterical, and it is doubted if the 92,000,000 francs deposited will be sufficient to meet the lottery prizes. London, December 17. The Times, in referring to the collapse of the Panama scheme, considers it Bou- " langer's chance of pushing re-actionary measures. »— — — — — »