New-York tribune., 1873-01-16
TERMS OF THE CONVENTION.
SWEEPING PRIVILEGES CONFERRED UPON TIL
CORPORATORS.

CORPoRATORS.
The following are the main points of the
Convention for the lease Of the Peninsula aud Bay OF
samana between the Government OF the Dominican Re
public and the "samana Bay Company OF santo Do
miugo"
The organization will be known the " Samana Bay
Company Of santo Domingo" and its capital stock Will
be represented by shares of 800 each, but the
stock may be increased by vote Of twOthirds The
number OF directors cannot be less than five more
than thirteen and they to be elected annually The
corporation will have power TO buy SELL mortgage,
change lease transfer assign real personal prop
erty of every description in santo Domingo and
elsewhere as may be deemed advantageous
20 the Company. II may Issue its bonds
for such sums such amounts payable at the times and
places with interest and with without agreement
for sinking fund.- it may determine. IL was further
agreed that thesbonds may be secured by mortgage or
pledge Of any OF all Of its real personal property
provided that the aggregate of such bonds shall not at
any time exceed oneha of the authorized capital OF the
Company The Dominican Government is to have the
power to inspect the books OF the Company at any time
1t may wish.
For the purpose OF increasing the commerce Of the
Republic as well as OF establishing by means of steam
ships and other lines, direct trade with all parts of the
world and developing the internal trade Of the coun
try by means Of railroads and other works Of inter nal
improvements and encouraging emigration from other
countries so that the population shall render efficient
aid TO the Dominican Government in preserving its In
dependence and main tanning order 1t has been decreed
that all the rights, privileges, and immunties OF every
kind which by the treaty with the United States, known
as the Convention for the lease Of the bay and peninsula
OF samana dated Nov 2 1862 ceded TO the United
States. are transferred by this Convention to the
samana Bay Company" fully If the same were
10 be granted TO the United States. 1t is understood
that the Company will hold all the public lands of the
Peninsula the waters Of the bay the islands, and even
the reefs in the bay 1t will also have the exclusive
right to construct wharyes in the water or the islands
OF the bay and TO collect for its port dues,
wharfage and all other charges taxes exports and
Imports and levy such taxes real and personal estate
as its judgment will best protect the interests OF the
public.
INTERNAL POLICY AND FOREIGN COMMERCE
The Convention agreed that the Company could ap-
point police tribunals and such other forces might
be necessary 10 carry out the general object OF the
grant and preserve order These tribunals will only
have jurisdiction the peninsula. the bay, and its
islands. The Company is also privileged TO build
or purchase steamers and other vessels and transfer the
same these vessels being entitled TO all the privileges OF
the ships Of the Dominican Government and sailing
under its hag that OF the Company, the national
colors Of any country. They may also be manned by
officers and seamen of any nationality The Company
may by agreement with the proprietors thereof become
the owners, and all the rights and immunities
granted to Joseph Warren Fabens for the geological and
meteorological explorations and OF the Republic.
which are held by the "santo Domingo Company Of
York" 1t may In like manner become the owner
OF the concession made 10 Robert M. Funckhouser and
his associates for an establishment OF line Of mail
steamers between the port of New-York and New-or-
leans and those OF the Republic
The corporation is entitled to establish bank Of ennis
sion deposit and discount with all the privileges which
were conferred upon Edward Prime ir dated July q,
ls6 capital OF which s 10 be s5OO0 and may be In
creased from time 10 time. The bank must be located
samana but may establish branches agencies In
santo Domingo OF any other place These banks are
prohibited making any issue Of paper exceeding in
amount the capital stock IL may be established from
time TO time.
LIBERAL LAND GRANTS.
II was furthermore agreed by the Convention that the
Company may construct railroads wagOnroads, and
telegraph Lines from samapa Bay any OF property
in esntO Domingo; aud for each league OF railroad
peted within 20 from date. the Company will be
entitled concession Of every alternate square league
within limit of two leagues each Of the road
of the land Of the Republic Whore there arc no such