. Panama : a personal record of forty-six years, 1861-1907 . ttle,sold them for $10,000; and that dividendswere afterwards paid on these same sharesamounting to $400,000, before the affairs of thecompany were woimd up. So if it is kept inmind that the original shareholders came in atnext to nothing per share, it may be seen howrich a bonanza was the American Contractingand Dredging Company, with Henry Barthol-omew Slaven at its head. His early and lament-ed death occurred December 2, 1904. After the suspension of work on the PanamaCanal, in 1888, the great dredges of the Amer-ican company were
. Panama : a personal record of forty-six years, 1861-1907 . ttle,sold them for $10,000; and that dividendswere afterwards paid on these same sharesamounting to $400,000, before the affairs of thecompany were woimd up. So if it is kept inmind that the original shareholders came in atnext to nothing per share, it may be seen howrich a bonanza was the American Contractingand Dredging Company, with Henry Barthol-omew Slaven at its head. His early and lament-ed death occurred December 2, 1904. After the suspension of work on the PanamaCanal, in 1888, the great dredges of the Amer-ican company were sold to the Maritime CanalConstruction Company of Nicaragua, but werenever used, although they were all taken safelyto San Juan del Norte (Greytown), except the 157 ]^Panama one named Ferdinand de Lesseps. Whether thename had anything to do with it or not I neednot discuss; but she was lost on the voyage be-tween Colon and her destination. Fate couldnot permit the name of Lesseps to be associated,even in a dredge, with the projected canal ofNicaragua! 158. Chapter XVI} CHAPTER XVI TV/T DE LESSEPS and his advisers believed•*■ it necessary that the canal companyshould control the Panama Railroad, by owninga majority of the shares. In that way and noother could the many difficulties arising out ofthe contract of the railroad company with Co-lombia be solved, and the canal be allowed to goahead. Negotiations were therefore begun, anda sale of shares was made, imder an agreementbetween certain stockholders of the PanamaRailroad Company and the Universal Inter-oceanic Canal Company. This agreement wasdated June 10, 1881, and provided that the canalcompany should pay $250 for each and everyshare of $100 par value, which the aforesaid certain stockholders might be willing to sell;that a cash bonus of $1,102,000 should be paid tothe directors of the road; while it went withoutsaying, that in purchasing the shares the canalcompany assumed the payment of all outstand-ing indebtedness
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