The morning call., 1891-01-11

mOTtBdSc Ou dtl tuo property VI Lut COul-
pany. The bonds are to be deposited in the
United States Treasury and issued to the
company only as work on the canal pro-
crosses. The bonds are to bear the guar
antee of the United States for the principal
and interest, as it accrues, and the company
is to issue no other bonds. The Secretary
is authorized to pay the interest on the
bonds as it becomes due. if not paid by the
company, and an indefinite appropriation
for that purpose is embodied in the bill II
the company fails to ray the interest as 1t
falls due and upon the payment thereof by
the United States, the company is required
to repay to the United States such amoun:
paid, with interest annually at per
cent until paid. Stock Is to be
issued as follows: First-An amount of stock
which, with the amount Of bonds at par
value, to be issued by the canal company
for expenditures prior to January l, 1891,
shall make an aggregate OF S7,0OO,O00. may
be retained by the stockholders and be nOn-
assessable. Seeond-The amount of shares
stipulated to be delivered 10 Nicaragua and
Costa Rica, according to their concessions
Ihlrd-S10, 600, 900 of shares to be held in the
Treasury as pledge to the United States
Tor the repayment on demand of any sum
paid under its guarantee, with interest on
the sums so paid at the rate OF per cent
Fourth-The Secretary of the Treasury, on
behalf of the United States, may, at his dis
cretlon, vote such stock in person or by
proxy at any stockholders meeting. and the
United States shall at any time
before the maturity of the. bonds
have option at the discretion Of
Congress TO purchase at par value all or
any part of the stock SO hypothecated. The
United States may apply IN payment for
such stock the sums paid under the guaran-
tee, and the remainder OF the purchase price
of stock shall be applied either for the re-
demption of the bonds or for the Sinking
Fund. Fifth-The residue of the stock
shall be issued by the canal company only
after 1t shall have been subscribed for, and
1t shall only be offered for subscription
when, in the opinion of the President of the
United States, the proceeds of the install
ments OF mortgage bonds shall be insuffi-
cient TO meet the current requirements OF
the company. The original t of incorpora-
tlon is TO be amended so that six of the
fifteen Directors of the company shall be
appointed by the President, by and with
the advice and consent OF the Senate. These
Government Directors are not TO be stock
holders, and are to report direct 10 the
President.
Dolph. from the Committee on Public
Lands, reported the bill 10 amend tine Rail-
road Land Forfeiture Bill of the last ses-
sion, so as 10 make the period OF six months
for the assertion of the rights of settlers to
begin to run, not from the time of the pas
sage Of The act, but from the date of the
restoration of such lands to settlement and
sale; and after an explanation, it was
passed.
The Senate then resumed consideration OF
the Finance Bill, and Morgan confined the
speech begun by him yesterday in support
OF the free coinage amendment He soon
yielded the floor temporarily, and Dawes
presented the conference report on the
bill TO carry out III part the pro-
visions of the act TO divide the Sioux
Indian Reservation; and in response
to q question by Edmunds made an
explanation. He said the commission, of
yyh ha hao tArap
ised the Sioux Indians in the course of the
negotiations 10 use ! is influence at Wash
iugton for the redress of certain grievances.
The commission subsequently met forty
representatives of the Sioux Indians from
the reservation where the present outbreak
occurred, to see to it that those outside as
suranceS were carried out. The Indian
committees of both Houses were also pres
ent, and all being together, the bill had been
prepared to carry out exactly the assurances
as the Indians understood them. The bill
passed the Senate in April last, but from
difficulties in the other branch of Congress
it had not passed the House until last
month, and then it contained duplicate
appropriation Of 100000.
The Senate struck out that duplicate ap-
preparation, and hence the necessity of a
conference. As the bill now stood, with
that duplicate appropriation struck out, the
bill carried out to the letter, not only the
assurances of the commission as the COM
mission understood them, but also precisely
DIS the Indians themselves understood thea.
So, with the original bill and the pending
bill, all the stipulations of the agreement
and all the assurances OF the commission
would be fulfilled, and there could he no
ground on which the Indians could conf
plain of the Government in any matter out
of which the existing disturbances had
arisen. The conference report was agreed to.
The Pension APP reputation Bill was. re-
ported aud placed on the calendar.
Morgan then concluded his speech, quot
ing extensively from one made by the late
Senator Beck
The Financial Bill was then laid aside and
a message from the President was read for
wardiug a memorial OF the Legislative As
sembly of Oklahoma for an appropriation
for the relief of destitute people of that
Territory. Referred to the Committee on
Appropriations. Adjourned.