According to the treaty, the US was to pay $40,000,000 to the stockholders of the French company that had tried to build the canal across Panama. Colombia's rejection of the treaty confronted these French investors with the prospect of losing everything. At this point, the French company's chief lobbyist (and a major stockholder), Philippe Bunau-Varilla went into action. Justly confident that the Roosevelt administration would support his initiative, he met with Manuel Amador, the leader of the Panamanian Independence movement, in a suite in the Waldorf-Astoria hotel in New York where he wrote him a $100,000 check to fund a renewed Panamanian revolt. In return, Bunau-Varilla would become Panama's representative in Washington.