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PANAMA. GOLD.
The public loves a gamble, and that fact in itself probably explains the fact that the £500,000 in Ordinary Shares of the Panama Exploration Company, offered at the beginning of the week, was quickly over-subscribed. Undoubtedly, the issue received an unusual amount of Press publicity in the shape of somewhat fervid descriptions as to the magnitude of the discoveries--deseriptions which certainly have yet to be justified by results—but, on the other hand, more than one newspaper, in referring to the prospectus, pointed out the highly speculative character of the undertaking, the large profits likely to accrue to the promoters if it proved to be a success, and also the very early stage of the develop- ment yet made by the vendor company.
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