384 VISCOUNT FERDINAND DE LESSEPS. 



estimate had proved very nearly sufficient. Whence came the cyclone 

 which swept away the company and its four hundred thousand share- 

 holders? From Paris, the distracted brain of France!" With some 

 personal and professional knowledge of the American isthmus, and 

 from reading the recent reports of Kimball, Rogers, and others, we 

 distinctly see that the difficulties in the Panama scheme were really 

 intrinsic, — although not insurmountable, — and we have let our account 

 stand. 



The Academy has received an accession of ten Resident 

 Fellows, six Associate Fellows, and ten Foreign Honorary 

 Members. 



The Roll of the Academy, corrected to date, includes the 

 names of 196 Fellows, 96 Associate Fellows, and 73 Foreign 

 Honorary Members. 



May 13, 1896. 



