The original intention of the New Panama Canal Company in bringing the subject before the United States was not to sell its rights on the Isthmus but to reincorporate and receive the support of American wealth. However, it was evident that the United States desired absolute control, and accordingly the consent of Colombia to a transfer was obtained and the Company prepared a classified list of its properties which it placed before the Isthmian Canal Commission on October 2, 1901 with the statement that the sums given were not to be considered as final but were merely presented as a basis for discussion. The Commission, however, refused to take this view of the matter and persisted in considering the prices offered as constituting, when summed up, a definite lump sum for which the Company would sell its property. This lump sum was $109,141,500. The Commission’s valuation was $40,000,000. Consequently when the Commission made its final report it closed with these words, “Having in view the terms offered by the New Panama Canal Company this 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 Nicaragua route.” When the French Company heard this report it immediately offered to sell its property for $40,000,000. Accordingly the Commission made a supplementary report on January 18, 1902 stating that “After considering the changed conditions that now exist, 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 Panama route.” Thus it came about that the United States was authorized to obtain permanent possession of the concessions and properties of the New Panama Canal Company at a very low price.