Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-02-28
TIE NICAnAGCA CANAL.
Details OF the Bail a. 10 Passed the
senate Yesterday.

WASHINGTON, February 2L-The Mica
ragua canal bill as it passed the Senate
to-day Incorporates Fred rick Billings,
Charles p. Daily, Daniel Ammes, Francis
A. Stout, Horace l.. Hotchkiss, Edward
+. Beale, Hiram Hitchcock, q. Rldgely
Goodwin, \. c. Cheney, j. f. o Shangh-
messy. II. @. Taylor, J. W. Miller, A. >.
Crowninshield, A. u. Menocal, Charles
II. Stebbins, L. Ii. Garrett, Jules Aldige,
II. A. Lancaster, Alfred L. Mills, Gu6tay
E. Kissell, Horace Fairbanks, George
II. Robinson, Alfred b. Darling Joseph
T.. Mcdonald, James Roosevelt, Chris
tan Devines, Frederick L. Thompson
Henry A. Parr, and such other persons
as may he associated with them aud their
successors a body corporate and polite
in deed and law by the name, style, and
title OF The Maritime Canal Company
of Nicaragua, for the construction.
equipment, management, and operation
OF ship-canal from the Atlantic to the
Pac fc Ocean, either entirely through
the territory of the republic of Nicara-
qua. or through Nicaragua and in part
through the territory of the republic OF
Costa Rica, with such collateral connect
ing or cross canals as may be necessary
to connect Herewith, and to exercise
such other powers as have been
conferred by the Government Of
Nicaragua, by concession OF that re-
public to the Nicaragua Canal Associa-
ton through 4. q. Menocsl, its repre-
sentative, and dated March %, 1887, and
finally approved by the legislative and
executive authority of the republic, on
the 10Th, 23d, and oath days Of April,
1887, and such powers as the republic of
Costa Rica may confer of the same kind
as those named in said concession. The
corporation may receive, purchase, hold,
and convey such T, al and personal estate,
property, and rights Of property, or con-
cessionary rights as may be necessary to
carry into effect the purposes OF the act
may issue stock to the amount OF the
value thereof in payment therefor, and
the stock so issued shall be de-
cared and taken TO be full paid
stock, and not liable to any further
calls and assessments may do all lawful
things to secure full enjoyment OF the
powers, privileges, rights, benefits, and
grants contained in any canal concession
so made by the republic Of Nicaragua or
to be made by the republic OF Costa
Rica, and to aid in the construction OF
a canal and to carry out the purposes OF
this act the said Maritime Canal Com
pany of Nicaragua is authorized to issue
It's bonds and secure the same by mort
gage on its property and nights OF pro-
perty of all kinds and descriptions
real, personal, and mixed-including ITS
franchise to be a corporation. The
principal Office Of the corporation shall
be in the city OF New York. The capital
stock of the company is to consist OF
not less than one million shares at olOI
each, with the right to increase the capital
stock to 100000 shares OF 500 each
upon a vote of two thirds OF the stock OF
said company at any time outstanding.
Five corporators who shall be chosen
by majority OF the numbers from those
named in this acs shall have power to
open books OF subscription to the capital
stock OF the company III the city OF New
York and at such other places in the
United States, Nicaragua, or elsewhere
rs they may designate, who shall receive
all subscriptions for stock, and no stock
shall be transferable except upon the
books OF the company provided for that
purpose. The corporilors shall give
thirty days notice Of the time and
place OF the opening of said books
by publication In one daily news
paper in New York city and one