Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-08-07
THE NICARAGUA CANAL.

WARNER MILLER president OF the
Nicaragua Canal Company, is en- route
for Europe to place some Of the stock
Of the company where it will do the
most good. He has already done some
work among the California millionaires
in that line, and has made very en-
couraging report to the company. But
il seems there are three distinct COM
panies in the field, the Nicaragua Con-
struction Company, the Nicaragua Mar
thine Canal Company, and new COM
pany for the purpose Of floating bonds.
Mr.. MILLER runs all three concerns.
The investor will have some trouble in
ascertaining his whereabouts when he
puts his money into this scheme. The
construction" company may deny all
knowledge Of the maritime" company,
and the "floater" company repudiate
both. Bad as the De LessepS scheme
was, it had the merit Of direct RESPONSE
bility. There was only one Panama
Canal Company.
Mr.. MILLER should be called upon to
explain the exact relative status OF the
three companies concerned in construct
ing the Nicaragua canal. The latest
accounts of the work being done on the
canal are by no means reassuring. Ac-
cording to those accounts very little OF
practical nature has been accomplished
so far beyond the surveys, and the orig
inal estimates set forth by those who
are manipulating the schemes, are utter
ly unreliable. 1t is said that the De
LesSeps tactics Of Misrepresentation
are being carried out on larger scale in
regard to the Nicaragua canal enter
prise. The chickering's and jealousies
of the Central American republics
/ threaten to interfere materially with
the prospects of the work. Treaties,
concessions and contracts are OF very
little value In that region, should the
people or government determine to re-
pudlate them. There is nothing sure
about the status of the three Nicaragua
canal companies in this respect. The
following statement by a gentleman,
who has recently returned from the re-
gjon where the canal is to be built,
should be carefully considered by would
be investors:
There is the biggest sort Of job behind
the whole business, and that is to induce
the American Government to guarantee
three per cent on 500, 600, 600 of bonds. The
The company is doing work quite IN keep
ing with the work done on the Panams
canal. It is theatrical work. For instance
they claim to have spent $3,O0O,OOO as ar
evidence of good faith. Such is not the
case. All the estimates published Of S45,
OOO. 600 and sos, 000, 900 for the completion o.
the canal in Nicaragua are simply farclcal
From $50. OOO, 600 to SOC, COO, 900 is the es
innate of competent and disinterested en-
gineers and men thoroughly familiar will
the country, the pestilential climate OF tut
coasts, the fatal feverS and tropical dls
eases of all kinds. The laborers cannot b'
had there, nor can the supplies. AL mus
be imported at great cost. The heavy ram
last for months and they are torrental II
character OF course they retard the worl
and enhance the value. The proposed roci
cut of three miles is a colossal undertaking
and will cost millions. Greytown harbo
and its sandbars are mosts serious obstacles
and the making of a harbor in the Allan
tic, il possible, will cost millions OF dollars
not included in the very superficial est
mates of the company.