The New York herald., 1879-12-11
FROM OUR REGULAR CORRESPONDENT

WASHINGTON. Dec. IL. 1879.
COMPREHENSIVE BILL PREPARED FOR COR
poRATIoN TO CONSTRUCT THE NICARAGUAN
CANAL-GENRRAL GRANTS NAME ASSOCIATED
WITH THE SCHEME.
The act Of incorporation which has been drawn
and which will be introduced in Congress. with the
approval Of General Grant, for an interoceanic ship
canal company. names General Grant and his asso-
ciates corporstors. with authority to negotiate
favorable concession with or moro Central Amer
ican governments for the construction of an
interoceanic ship canal to fulfil the require
ments conditioned in the Clayton Dulwer
treaty, the capital stock to be not less than
$5OOOO 900 greater than s1O0.0O0.OO0 When stock
is taken to the extent OF $50 900 tho
may elect directors. president and vice president,
and the government in whose territory the canal
located may appoint director. having equal
power and responsibilities and receiving tho same
salary from the company tho other directors.
Il is provided also that o part OF tho
duty Of the directors shall be to lay
sufficient statement of the progress of tho
work and expenditures thereon. The books shall be
carefully examined by government inspectors. and
IL the statements found to DO calculated to de-
ceve, the examiners shall make proper statements.
aud IL fraudulent action has been taken the perpe-
traitors shall be prosecuted In any United Satcs
court and IL convicted sentenced as though the Of
fence against the government. All employees Of
the company who commit fraudulent acts, either ut
home, in transit or in Nicaragua, shall be nablo
to be proceeded against in any United States
court. and conviction shall be punished
rs though tho offence against the government.
The government shall tho works to be in
spcctcd yearly by two officers Of engineers who are
10 reuort IN he act nal provresa of ha WORK and
whatever affects the economical progress of the
work, the government to render bills of actual cost
of travelling aud other expenses, and be reimbursed
for the same. but the company not to pay the in
spectors. The bill will not be introduced. It is un-
derstood. until after tho holidays.
THE UTEs IN COLORADO.
special meeting OF the House Committee on In.
dian Affairs will bo held tomorrow to consider tho
resolution introduced in tho House yesterday by
Mr. Buford. of Colorado. to create q commission to
negotiate with the Ute Indians for tho exiting
mont OF their title the Ute reservation 1t Is un-
derstood that tho resolution has the approval OF tho
Secretary OF the Interior.
APPROPRIATION BILLS.
The Committee on Appropriations will report to-
morrow the Fertilization and Benson Appropriation
bills. both of which will probably bc passed before
the holiday recess. The Military Academy Appro-
priation bill will be ready by Friday, that thcre
ia reasonable certainty of three OF tho appropra-
ton bills passing before the 10th inst. democratic
member OF the House. who to-day made an active
canvass among his colleagues found that the senti
mont was universal in favor Of short session aud
restricting business to routine matters.
HOLIDAY ADJOURNMENT.
To-day the Senate after brief skirmish, decided
to concur In the Joint resolution passed IN tho