The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-19

and Amazon country is a climate without droushts,
and that II s n sIoist and warm climate, have es
tsslished enough to satisfy any one that the soil
there, whatever be the substratum. must have upon
il a rich vegetable mould, which the decay Of the
most rank vegetation during ages must have formed
In my next shall proceed to show what travel
lers and men Of science who have explored various
portions of this wonderful region Of country say a.
to its Productions, it's commerce, and the nayigL-
bihty OF It's water courses.
Nicaragua Transit Company.
COMMUNICATION FROM THE BOARD OF DIRECTORS
An article in the Epering Post of yesterday,
headed Nicaragua and the Transit Company" has
surprised many of its well informed readers, much
as it may mislead those who though ignorant on
many of the points referred to, not the less in
terested in knowing how far they are to be relied
upon.
The whole matter rests upon the question whether
Mr. MaTcoeta is or is not authorized by his govern
ment to appoint arbitrator for the adjustment OF
accounts
II is for from correct that controversy Of seri
Gus ''nature has been for some time going on be-
tween the government of Nicaragua and the
Accessory Transit Company" The company has
received no notification from that government,
from any other source, as to the forfeiture Of its
charter, nor can it contemplate the possibility of
such An occurrence while, as heretofore the condi-
tions of that charter have been not only complied
with, but al ticipated.
The company has never refused to pay to that
governn ent the tenth of the profits due her under
on the arrival of her commissioners in this city,
every book Of accounts, and every document re-
latDg to the business, gly plac NJ
their disposal. while every facility was rendered for
examI alton and explanation.
1t may easily be supposed that, in entering on
the first settlement, occasional differences of OPT
MON might arise as to what should be considered
"proft I" Such is frequently the case in arranging
the simplest private transactions between indiVidu.
ais and was far more likely to occur between the
representatives of State and company, mas
much as the first settlement would form the prece-
dent on which all subsequent accounts would pro-
badly be adjusted.
MIR. Manning, as commissioner from Nicaragua
considered it his duty to claim for that State GER
tain sums which Messrs. Snow and White, acting
Cd behalf Of the stockholders considered it equally
incumbent on them to decline paying.
So far, however, from refusing to arbitrate the
question, they themselves proposed to Mr.. Manning
to submit the matter to arbitration, in conformity
with the stipulatioDs of the charter; Mr. Manning
though declaring himself authorised to appoint ar
bi'rators, declined acting under that authority
without first communicating with the government,
Their nomination by Mr.. Marcoeta was made on
the 10th Of October, and the gentlemen designated
by him were certainly considered in every way un-
exceptioDable by the board of directors.
1t IL, therefore, evident that there indispo
sition to arbitrate, but il was deemed of the
utmost importance, previous to going into an arb-
traton, to determine how far the decision would be
binding on the State Of Nicaragua, by first ascer-
tanning whether the power of naming arbitrators
had been dele gated by that State to Mr.. Marcoleta
If he had shown that such was the case, no delay
would have occurred; but to have gone into srb-
tration which had every appearance of being bind
ing on one party only was certainly not to be lightly
entertained; and whatever may be the opinion OF
the legal adviser of Mr.. Marcoleta the directors
held the question to be SO grave in its bearings,
while it was so important in determining future pro-
ceedings, that. acting under the advice of their
own counsel, they determined to submit the whole
affair to the government of Nicaragua direct. The
necessary measures for decided step were, con-
sequently, taken at the first subsequent meeting Of
the board, where the following resolutions were
unanimously passed.
That this company and their commissioners Messrs.
Snow and White have ntcrposed any obstacle
the prompt and immediate liquidation of the
between the State Nicaragua but the
contrary thereof after finding 1t impossible to yield
the exactons Of Mr. Manning without great injustice
their stockholders and themselves they expressed to
Mr. Marcoleta their solictude for Immediate settle
ment and offered to their commits oners the very
dsy after the State Of Nicaragua should theirs and
they distinctly offered the said Marcoeta that il he
would deposit with him any evidence Of his authority to
commissioners for his State, they would the
following send the names Of their all of
which will fully appear by the letter Of this company,
which was addressed to the said Marcolsta by their
counsel: and dated October 9Th, 1852.
That because Of the incorporate language which has
hitherto characterized the communications Of the said
Marcoeta all further direct correspondence with him
deemed improper and that for the future tuch officers
shall communicate directly with the proper officer of the
government of Nicaragua
This In the judgment Of this Board Is Indispensable II
harmony and good under ding between the govern
mept and themselves are hereafter TO prevail
reference 10 the foregoing resolutions, as well
as to the letter addressed to Mr. Manning, should
carry conviction to the readers Of those documents
that 60 far from evadiDg q settlement Of accounts
OF refusipg to arbitrate them the Transit Company
was the first to propose the latter MEASURE and has
since been most urgent for it in order to accomplish
the former
A desire that the appointment of the arbitrators
shall be regular in order that their decision shall
be final, can only be regarded by the stockholders
as a commendable prudence, and for their Informs
tion this communication is made, with The sole yiew
of preventing their being deludea by what appears
to be so transparent an attempt to depreciate the
value OF their property.
1t is perhaps proper 10 state here, that Mr. Man
ming. who was appointed en- agent by Nicaragua to
iqudate the amount of ten per cent net profits,
creditor Of the State to large amount, and was
the assignee Of all the right and interest Of Mica
rseua, of in and to the ten per cent as repeatedly
declared by mself
His interest, tb ,refore, was to swell the ten per
cent, os he was to be the sole recipient Of it, ou;
Ibis objection TO his competency, as an unbiased
agent. the company waived, MS the principles on
which the settlement was TO be made were, as they
conceived, so plain and so well understood. Their
surprise may then be gined when Mr. Manning
insisted that they could not be permitted, in max
ing up the amount Of prot to charge the loss Of
one Of their stcamboats, and the salaries Of certain
Of their agents and officers
On these snd Other similar items the dispute or
controversy aIcse. 6emandlng the ,nterposition Of
commissioners, which ar Manning claimed to have
authority to appoint, but refused, already stated,
to appoint, till he should frat com uncate with the
government Of Nicaragua
Office Of the Accessory Transit Company. N1vem-
Der lS, 1861. By order Of the Board Of Directors
JAS d. Z. OGDEN, Vice President.
ISAAC LEA, Secretary.
Domestic MisccIIancy.
The papers continue TO report severe fross In Georgia
and Alabama.
Ex Mayor Lamb Of Norf5lk, Va, is dead.