The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-07-02
Ui.Az TIE NEW CHsRTER 10 o0RNE.
~ LILS TANDERBILT
[oorrespondenee q tbe Tribune

.
la my communication Of yesterday. promised 10 lay
before your readers documentary proofs Of the granting
exclusive transt charter by the government Of Nioar
aqua to Cornelius Vanderbilt. now fulfil my promise
by making public through your columns the act OF ncor
poration made 10y the Ncaraguan government in favor Of
Cornelius Vanderbilt and Horace II Clark,
ACT INCORPORATION.
The supreme executive power has directed me to pub
lish the following decree ~ 49,
The President of the Republic OF Nicaragua consider.
Ing that Mcssr Cornelius Vanderbilt and Horace Il.
Clark have Legally entered the republic In the exercise of
then duties, IN order that they shall meet with hind
rance la the execution and prosecution OF the undertake
ing and that ii is Indispensable that they should be re-
eyed from all taxes which arc due to the government
OF the republic In the exercise of his rights DEGREES
follows
Frs BY these presents the republic of Nicaragua
FORMS establishes and constitutes In legal and collect
i've body in perpeuity, under name to be hereinafter
designated, Messrs o. Vanderbilt and Horace H. Clark
and their associates whoever they may be here
after in order to give complete effect TO the object and
design of the concession and contract made and
ded by the said republic on the said 9Th day of March
Of this year. to the parties therein mentioned in such
they and their should judge proper
and compatible with the said concession and contract
and for this end the aforementioned parties and their
invested by these presents with all the
necessary power and authority to collective and legal
body.
Second. The said collective and legal body, from time
to time and in such manner shall to them
venent make private regulations anti adopt rules
and orders for the administration of their domestic gov
eminent and business; they augment and arrange
their subscriptions designate the number OF the parties
among whom they to DO divided and the value Of
them, decree how they be disposed Of and tho
ner In which they bc transferred and shall have
executive power to do such other acts and things may
be deemed necessary to carry out completely the object
| of the concession and contract above mentioned.
Third The said legal and collective body, from time
to time they may determine shall have power elect
body Of directors and any other employees and name
agents and servants for the management Of all the bust
nees OF the said company. Said body Of directors when
elected will be joint legal and collective body, with
its president and will be invested with all the powers
herein conferred unless the said powers have been limit
ed by the above mentioned collective body shall have
power to decide by Of special rules, in other
manner the number of directors, the and time
of their election, and the duration of their term OF
| office.
Fourth The said legal and collective body shall have
common seal, which they shall have power to change
from time to time They shall have power to and
can be sued to final Judgment; and they can plead
and be accused complain, defend contest before all
the judicial tribunals Of this republic, any persons
Fin The capital stock Of the said legal and collective
body and all its property whether in stock or goods in all
time hereafter shall be held exempt by the state from
| from all taxation, Dues and imposts.
Acquesced in behalf of Messrs G. Vanderbilt and
Horace f. Clark, by their agent, William Robert Clifford
Webster and by the authorities and funconares Of the
| republic, to whom the duty belongs.
| Given at Managua, May g. 1888 Thomas Martinez,
Senior Don Gregoo Juarcz Minister of Foreign Relations
and by their order communicated to for information
| and effect.
(Sgned, GREGoRIo JuAREz.
! The Canal Company is then dead Long ago Mr.. steb
bins and other influential members withdrew from the
company and it fell entirely into the hands Of J. L.
White, esq; and few of his friends
On the other hand Yrissari the Minister from Nicara
gua publishes the following apparent contradiction Of
the above announcement:
4 EsA- BpoOKlyS June %. 1853