The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1873-01-20
THE SANTANA BAY SCHEME.

A Free State In the Tropics-Fdrther
D.tulls orthe Purchase of Samana by
American Capitalists.
When the negotiations between the United
States Government and that Of tie Dominican
Republic for the acquisition of the Bay OF Sa.
mana and the adjoining territory were broken
of. O number OF capitalists took up the
scheme and have since been negotiating Tor
the transfer OF the rights and privileges which
were offered 10 the United States Govern.
ment.
A company was formed, known as the "Sa.
mana Bay Company OF Santo Domingo
Prominent among the corporalors are 8. l.:
N. BARLOW, Alden D. Stockwell, president OF
The Pacific Mail Company; DR.. Samuel G.
Howe, one of the commissioners OF the Un!-
ted States Government sent out on the steam
frIeate Tennessee; Paul N. Spoford, Gardiner
8. Spoford, Henry Clews. b. W: cray Fred-
erlck Schuchardt, John Stewart, q. 4. Garrl-
son, Oliver Ames, VIM. G. Fargo, and others.
the Organization will be known as the
! uSamapa Bay Company OF Santo Domingo,
and its capital stock will be twenty million
dollars, represented by shares OF one hundred
dollars eacn, but the stock may De Increased
by a vote of two thirds. The number OF dlrec-
tors cannot be less than i've nor more tnan
thirteen. and they are TO be elected annually.
The corporation will have power to buy, sell.
mortgage, exchange, lease, transfer or assign
real or personal property oil every description
in Santo domingo and elsewhere, aS may Do
d,emed advantageous TO the company. IL
NAV issue iLs bonds for such sums, IN sucn
amounts, payable ut the times and places,
with Interest and with or without an agree
ment for sinking fund, as it may determine.
O0n0S
be secured by mortgage or pledge OF
any or all OF its real or personal proper
~. provided that the aggregate of such
bonds shall not at any tlne exceed one
half of the authorized capital OF the company.
The Dominican Government is 10 nave lne
mower to inspect the books or the company al
any time it may wlsh. IL was furthermore
agreed by the convention tnaC Tue company
NAV construct railroads, wagon roads and
TELEGRAPH lines from Stmaoa Bay TO any Oh lts
property In Santo Domingo; and Tor each
ieague of railroad completed within twenty
YEARS from date the company Will be entitled
IN n concession of every alternate square
league, within the limit OF TWO leagues on
each side OF the road, Of the land OF the Re-
public. Where there are no sucn puollc iands,
and when situated 30 that such public lands
cannot be 30 located, the company may make
iIs location on any other oil the public lands.
For each three leagues of good wagOn-road
mr. of telegraph line, O similar grant oi land,
and pateuts for such grants, snail 0e made IN
fee issued Immediately upon The completion
of each league OF the work. All these grants
shall be Without prejudice 10 those conferred
hv the Dominican government, and hereafter
thew can make no concessions, on any terms,
wiIhont fitSt Offering the same to this COM
nany. This company, lis capital or bonds,
cannot he taxed for any Of the lands, proper.
ties. or works OF internal Improvement, nor
he compeled to make any contribution IN re.
snect il: and all the railways, roads, fixtures,
&c,. will remain the absolute property OF the
company. In the event OF lnis corporaton's
constructing railways and lelegrapns. II Will
| have the right to create 0onos on such proper
lv. and secure the same by mortgage thereon.
| The grants made In virtue OF this convention
began on January !, 1873, ana VIII contlnne IN
that ihe company, on January lst Of every
rear dnrInp the one hundred years of The
| lease. shall pay sl5O,0OO TO the Dominican
Governmept, These concessions to the com
nany will remain under the joint protection
of the Dominican Republic and the United
States, and the company may solicit the pro-
teclion of either In case OF necessity.
| In some respects this company is like the
famous British East India Company or the
Hudson Bly Company. Indeed, the value oi
iIs franchise and the powers conferred upon II
ore greater than those corporations originally
nnss.ssed. II is understood That the company
| has sub-let portion OF It's franchise for sun
| nearly or Quite equal TO that stipulated to bs
Maid to The Dominican Government, and thai
the additional income to be delivered will bt
very much greater.