New-York daily tribune., 1858-06-29
The Act of Incorporation to Cornelius
Vanderbilt and Horace +. Clark.
FATE OFTHECA COMPANY
NO FUNDS.
THE CAss.YRIssARRI TREATY.
OPENING OF The NlCARAGUAN LINE.

isA TO lay be fore your readers documentary proofs
of the granting Of an exclusive Trsnsi: Charter BY
the Government of Nicaragua to Cornelius Wander
bilt. now fulfill my promise. BY making public
through your columns the Act Of Incorporation
made by the Nicsrsgusn Government 10 favor ci
Cornelius Vanderbilt and Horace Z. CiaIk.
ACT OF INCORPORATION.
The supreme executive power has directed me ~
publah tie follovipg decree:
TIE Pre- s;ceut Of tho Republic ct Nicaragua, con-
sot rlpg tia, MesTs Cornelius Vanderbilt and Horace
F. Clarke have legally entered the Republic 10 tns
exercise OF their duties, IN order that they shs meet
With hndrsDcs IN o executi 70 snd p'oeecuton oil
the undertaking. that ia indispensable that they
should be relieved from all taxes which arc due TO the
Government Of tne Republic. in the exercise OF his
rights, decrees ss follows:
ACT oY INCORPORATION.
First. BY these presents the Republic OF Ncaragus
fc,m, eet sbabes and consttates la legal and co-.
i've body in psipstsity, under Name TO oe hereinafter
designated, Messrs. {. Vanderbilt and Horsce r.
Clark, ard their associates, whoever they m.y De
d. hereafter, in order to give complete elect 10
tse object ard design Of the cor cessioI AID contract
made art needed by the said Republic on the said
sth day OF March Of this year. to the parties tnerein
mentioned 10 suoh mannef Is they ana their success
or. should Judge proper and comp with the said
copce-sop and cohtrsct and fof this end the above
Mentioned parties and their SUCCESSORS are iaverte d.
by thesa presents with all the Deoessary power ana
AUTHORITY
Second: Ire said collective enc legal body from
time to time and in sucn nancer rs shall seem 10 tnen
convenient, can meke prvste regulations ana aaop.
rules and orders for tne admin.trs.ion OF their
domestic government aid buslnessi they can
augment and arrange their subscriptions, designate
tho number Of the parties among whom they are 10 De
divced and the vslue OF tnen, decree hog they can
be dispcsed Of, and the manner IN which they can DC
transferred; and shall have executive power to do
such other scts and tbcgs ss msy be deemed neces-
ssry to carry out completely the cbect of tho conces-
sion and contract above mentioned.
Third The sad legal and collective body, from
time TO time a. they msy determine shall have po yer
TO elect body Ct Directors and sny other empoyees,
and name agents and servants for the management ot
all the business Of the ssid Company. Said body Of
Directors when elected will be joint legal and col
lective body with its President and viii be invested
with all the powers herein conferred unless tho said
powers have been limited by tie aforementioned
collective body, shall Rave power TO decide by means
of special rules, or In oner manner the number OF D
rectOrs the manner and tine OF their elecaon ana the
ourstion of their term cf office.
Fourth. The ssid legal and collective body
sbnll have q common SEAL which tdey shall have
power to change from time to time. Thsy shall have
power to sue al can be sued, to uslJudgment and
tbey can plead and be accused compl sln defend or
contest before all the uoicis tribunals of this Repub
lie; es any persons, citizens OF the same.
,h: The capital stock of tho SAID legal and collect
i've body, and all ts property whether In stock or
goods in all time hereafter, sh ali be held exempt by
the State from all taxation, dues and imposts.
and Rorsce F. Cls'k, by their agent William Robert
Clifford Webster al by the authorities and function
tonanes Of the Repubic to whom the duty belongs.
Given at Mansgua, Mays, 1853. Thomas Martinez,
Istions, ard by their order communicated to you for
'n'0'"'"' Signed GREGoRIo JUAREz
FATE OF THE CANAL COMPANY.
The Canal Company is then dead. Long ago
Mr.. Stebbins and other influential members with.
drew from the Company, and it fell entirely into the
hands of j. L. White, esq and few Of bis friends.
The profuse promises Of the Company to Nicaragua
have proved utterly void and useless.
Nicaragua has received stock, but never dollar
from the Canal Company. BY the influence Of the
venerable Minister Yrissarri, who still hoped for
a good time coming, when there would be money
in it's Golfers for bis Government the time for be.
ginning was again and again extended and every
possible favor shown to it, but all to no purpose.
The sole object of Mr.. White and bis associates
seems to have been to sell the charter to Wander.
! blt, or Morgan snd Garrison, or Brown Brothers,
Or any party who possessed what they did not,
namely, money and steamers.
THE CAss.YRIssARRI TREATY.
I represented in py letter yesterday that the
| Cas- Yrssarri Treaty would be sent on. If that
treaty had been coucocted for the particular beneht
| ot the Canal Company, such wOuld not DO the
Gaze; but the Administration at Washington 10
ouite a. Indifferent ss to who opens the Transit line
-,o II Be opened-as the Government OF Nicaragua.
se5or Yrsssrri did rot lend his powerful aid 70 tno
| treaty because it favored the Canal Company, or
| sny other Company, but only to protect any Anier
csn or conpauy of Americans who were able or
willing TO open the line The treaty, fully ratified
bv the Government of Nicaragua, was held back
because it might have been used asa means OF pro.
LnOipg useless stroggle on the part Of the Canal
Compsrv. II will be sent on by the next or sue
ceeding steamer.
TIE VANDERBILT CHARTER.
Whoever is able TO open the line is the party who
should be protected by both the Governments.
Much has been said about the un~illngness oil
Vanderbilt to open tie line; that 1t has been
bis policy aud bis interest, which is the sane
thing, to keep it closed. Now, the fact is, Wander
bils has spent great deal Of money and tme IN
trying to secure the charter for himself Ii that
is an indication of unwiIlrgncss, it is very odd
one to cay the least. BE has succeeded in obtain
ipg privileges Of ali extraordinary character. The
conditions of his Charter gives him entire possession
of all the boats in tie river, all the wharyes pers,
buildings, roads, and all other property on the line
of Transit for only S32 900. He also has assigned
to him the ls5, ,OCO acres Of land in fee simple,
which were before included in the charter of the
Canal Company, together with all other rights and
privileges given to that company. ard others still