Before, however, the Tory had thus sailed for Cook Strait, it had become known to the English government that a French colonizing company - La Compagnie Nanto-Bordelaise - was forming, under the auspices of Louis Philippe, to anticipate or oust Wakefield.
It was purchased by De Lesseps's Compagnie Universelle de Canal Interoceanique de Panama for $25,500,000; and, with the other holdings of the French company, 68,869 shares (more than 97% of the total) passed to the 1 Christobal, the port of Colon, and Balboa, the port of Panama, lie within the canal
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