The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-11-30

OF construction. Many of the accessory works
have been extended, and in some cases carried
to completion. The railroad from the Atlantic
port to the divide has been completed. equipped,
and is now in operation for q distance Of eleven
miles with good culvsrts, and roadbed aud track
in first-class condition. The machine shops
have been enlarged and are well provided for
all work incidental 70 the construction of the
canal The jetty or breakwater, which is to
protect the harbor entrance on the Atlantic
coast from the effects of shifting sand, has been
extended 1000 feet or more into the ocean,
and a second breakwater against northerly
storms has been commenced on the west
side OF the harbor. About 5000 feet of actual
excavation along the canal has been made and
q channel formed from $50 to go feet wide and
about seventeen feet deep Important work has
been done on the Machuca rapids and in the
bed OF the San Juan river, at that point. Eight
miles OF the route OF the canal on the west side
of the lake have been cleared of timber and
underground and the line for railroad from
the lake TO the Pacific has been surveyed and To-
Gated.
The health Of the employees of the company
is reported to have been good and the sanitary
condition of the camps maintained.
In March, 1891, the president of the Nicaragua
Canal Construction Company, Hon Warner
Miller, made q complete examination OF the
entire line of the canal and the numerous Access
sorry works, and the Official reports show that
the work already done has been within the
estimate OF engineers and with ali possible care,
thoroughness and dispatch. The interests of
the company are represented both in Nicaragua
and Costa Rica
Since the organization OF the company 1o,145
shares OF the capital stock have been subscribed
for at par, amounting to sl,o14.50o, of which
amount 81. DOL 45o has been paid in cash into the
treasury of the company Receipts from other
sources have amounted to 81, 2l6.12 making the
total amount of cash received 81, OBS, 666 L. The
other assets OF the company consist OF its capital
stock; OF the concess ions, privileges, plant,
lands, buildings, steamboats,. locomotives,
shops supplies, ETC., belonging to it, including
the lands purchased from the government of
Nicaragua for the route OF the canal, at the cost
OF s50, 600. in accordance with the provisions of
the Nicaraguan concession.
Since its organization the company has ex-
pended and issued for property, labor and ma
terials and administration expenses SS03, $40. n
In cash and 27,7So shares of the full-psid capi-
tai stock Of the par value of s. 77S,000 and il is
obligated for s5,96S0o0 of its first mortgage
bonds.
1t has also issued $50 900 shares of stock of the
par value of SIS, 900 900, in payment for conces-
sionary rights, privileges, franchises, and other
property. The liabilities consist of the amounts
still DUE under concessions granted, of the
$5953o00 of bonds, etc, of the 953 900 OF bonds
above mentioned, which are due to the Nicara-
qua Canal Construction Company tor materials
and for work and labor in constructing the ca
nal, and of cash liabilities not to exceed $50 900
still outstanding and unpaid. A detailed des-
cription of the canal and work accomplished is
annexed to the report OF the com pany.
1t seems appropriate that this great highway
for the products and manufactures from and
imports to the United States should be con-
nected with the department of the interior. 1t
is being built at the same time that the great
waste places OF the country are being opened to
settlement, the factories increasing, the rail-
roads extending and the population rapidly
multiplying. Soon our commerce must reach
not only the states OF South America and
Mexico, but China and the East by the western
route. 1t IL gratifying to note that this short
markets of the world will be ready by the time
demand for 1t becomes Imperative.