Two commissions in the past had reported favorably on the Nicaraguan route. A third commission with Admiral John G. Walker as chairman was appointed and authorized in 1899 to expend a million dollars, if necessary, to make a thorough investigation of the several routes. In 1901 the committee reported that the “Commission is of the opinion that the most practicable and feasible route for an Isthmian Canal, to be under the control, management, and ownership of the United States is that known as the Nicaraguan route.”[60] The Commission placed the estimated cost of the Nicaraguan Canal at $189,864,062; of completing the Panama Canal at $144,233,358; and that to this latter sum should be added the cost of acquiring the rights of the French company. The company asked $109,141,500, but the Commission estimated its worth at $40,000,000. The company considered this unfair but finally offered to negotiate with the United States and sell on the best terms possible. The Commission made a supplementary report recommending the Panama route and purchase of the French company’s work and rights at $40,000,000. An act was signed by the president, June 28, 1902, which had passed Congress, not without opposition, authorizing the president to acquire control of the rights and property of the Panama Canal Company, to acquire perpetual control of a strip of land not less than 6 miles in width, across the Isthmus, to proceed as soon as these rights were acquired to construct a canal through “The Isthmian Canal Commission” created by the act; but should he be unable to get satisfactory title to the property of the French company and the control of territory from Colombia, then the president was authorized to negotiate with Nicaragua and build a canal along the Nicaraguan route.