New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-01
THE NICARAGUA CANAL BILL.

WAsuINGTON. Jan. 31.-ID the Senate to-day
,r mier o California from The Commit &c on Foreign
Rotations reported taVOra6y the bin 70 incorporate TIE
MARITIME Canal Company Of Nicaragua. with amend
mania The bill amended provides that the company
NAV DO a, awful things to secure the fD enjoyment OF
tho powers privileges rights benefits and grants con
tanned In a canal concession made by the Republic OF
Nicaragua 90 tho provisional lntercccnnic Canal So
eiety and confirmed May g. 1880, OF to be hereafter
made that the capital stock OF the company shall bo not
los tnan 100000 nor more than 100000 shares II
400 ZACH and the company may issue bonds not ex-
ceeoine $50 900 600 ia amount and in such form
IA the directors may determine, ana the
bonds may be secured by mortgage upon all
real personal and mixed property OF the company.
Five corporators may open subscription books at such
points in the United states Nicaragua as they may
designate provided notice DC given thirty days pre-
yousiy IN the press Of New York San Francisco London
Paris and NICARAGUA 10 per osnt OF subscriptions to be
payable III the time they made. Eleven directors
are 10 manage the affairs OF the company OF whom
Is to be appointed by the Government Of Nicaragua and
enc BY the United States Government.
The provision in the original bin that tho canal shall
not be less than % deep and not les, than $50 feet
wide shall have locks oss tnau 600 feet long, and
tAat tho Uued States Government shall guarantee for
period OF twenty years the time Of the completion
Of the canal dividend Of per on the cost
Of the cara but the total In 10 exceed S75
100000 has been stricken out, ana the following ion
added instead: Tie United States IS exercise such
provided ~ treaty with Nicaragua, or consistent vita
the nights VI that Government ana snail e.oy tree
use accordance vito SUE treaty rights should
the United states M for National rcasOns o occupy
sno manage such canal the right TO do subject 20
sOyereign rights Of Nicaragua, - hereby Tesrved and
secured Government Of tle United States upon
the maintenance OF tue work and Of oil ITS accessories In
as good condition wnen received, and upon payment
10 sad company each year, and prOpotiOpally
FOR any traction thereof. OF amount
equal TO rate ~ net earnings derived from the transit
dues OF the canal for the iInmeda ely preceding
such Ooou patton But should the Government OF tho
United states intiuue such occupation for than
one year II sGa thereafter pay o0o 10 said
pany Ia addition to the amount Aforesaid further sum-
winch sha bear the raO 10 the amount paid for
the year Of said occupation thai any ton
asng the capa during such subsequent years bears
10 tine tonnage winch tnrUug1 tI6 canal during
tue prior 20 It's occupation by the Government Of
the United states pTOp1dod thst the amount paid by
the United Steies Tor any ono year shall
not exceed the sum Deoessary 10 enable
the company 60 meet its oDg and DIVIDE per
cent upon It's capital StOok after having reserved per
cent OF the nOunt received year the improve
iDeBt and extension OF the caDal aud It's points
aud for tue deteriorationOf Che properly"
The bill reserves TO Congress power "a alter
repeal tails act whenever, IN is Judgment the
puDlc interest shall require.
Tao committees submit report e. aecJmpan ~the bill
in winch TeausHtepe0 Canal route condemned as
and the Nioarg route being The next
nearest roptC the territory Of United states is
Recommended for ghis UeasOn, well upon the gen.