The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-12-16
Some Hard Work Now Be-
ing Done.
rIR. HUNTINGTONS FINE HAND.
A Southern Pacific Engineer Said to
Have Been Sent TO Washing
ton to Block Progress.
Special to THE MORNING CALL

Foreign Relations and in the Interstate and
Foreign Commerce committee of the Senate
and House respectively, and have agreed
upon bill, which will be reported in both
the Senate and House. THE CALL is
cDa bled TO give the salient points of the
measure, which is not changed in many
particulars from the synopsis given in these
dispatches several days ago.
First-The Government is to guarantee
the bonds of the company to an amount not
exceeding 100000 and to hold first
mortgage en- all the eompany's property 20
secure the same.
SecoDd-The company shall Issue $780,
Oo0.00o of stock, of which amount the Gov
ernment of the United States is TO own
absolutely ss5,ooo.Ooo. Nicaragua $4,000. 600,
Costa Rica 81. 100000 and the old company
$12o0O, ,00o
Third-The President Of the United States
with the consent OF the Senate, shall ap-
point ten directors out of fifteen, Nicaragua
one director, Costa Rica one director and the
old company three directors. The United
States to control the canal and fix tolls OF
the ten directors of this Government FIVE
are to he selected from each Of the two lead
ing political parties. They shall hold office
for terms OF two years. and shall not be
stockholders in the corporation. The
United States Government engineers will
control the work of construction. and will
report on the amount expended from month
10 month. a sinking fund is to be provided
to pay both principal and interest. No
money IS to be expended except for the
actual building OF the canal and matters sp-
pertaining thereto. The Secretaries
of State and of the Treasury are
TO audit all previous expenditures.
There shall not under any circumstances
be more than 1000. COO shares Of stock is
sued. at 500 per share, and all stock here
tofore issued is to be called in and can
celed, as we'll as all contracts and agree
ments heretofore made. The company is
authorized 10 issue bonds bearing date of
January l. 1S93 payable In 1868, but with
the option OF the company TO redeem any
time after ten years. and with interest at
per cent The bonds will be issued only as
the work progresses, and no bonds will be
issued except as prescribed in the act The
United States guarantees the payment of
The principal and interest on the bonds, and
they must not be sold at less than par. The
President Of The United States shall cause
detailed statements to be made of the prob
able cost of the canal, within sixty days
after the bilps passage. and every sixty
days thereafter the engineers shall make
estimates of he work performed
The committee sent here by the New
Orleans convention are enthusiastic over the
bright prospects OF the bills passage. great
many Democrats will favor it, although
they were expected TO oppose il. Catchings
OF Mississippi and Wise of Virginia will
warmly support the measure.
Geary of California. who is member of
tie House Committee on Interstate and
Foreign Commerce. finds some fault with
the bill as lgreed upon. but il is understood
now that he will support it.
THE CALL correspondent learned to-day
that MI Huntington has sent one of the
Southern Pacific engineers TO Washington
TO oppose the bill. Those who are on the
inside declare positively that he is now in
the city.
The committee from the New Orleans
convention Issued the following address to-
night to each delegate to that convention:
We came here under instructions from
the national Nicaragua canal convention
OF New Orleans to insist, in behalf OF the
people, that the canal shall be promptly
built in the interest of the whole people:
that no private corporation or foreign Gov
ernment should own or control it; that the
cost Of its con struetion should be as low as
possible, and that canal tsls for all time
should be regulated by the Government of
the United States. The stewardship to
which. by action of the convention, we have
been called is not yet ended. but sufficient
progress has been made In the dis
charge OF the important trust COM
mltted to our keeping to warrant from
US partial statement of what
has been so far accomplished. 1t is oppor-
tune. also, because we find existing neces-
sitY for the united labor OF every delegate
accredited to the convention. Pursuant to
The summons of our chairman, we came to
Washington. and at once set ourselves TO
work to find out the condition of legislation
In the matter. We found Senate bill
pending 10 the Committee on Foreign Rela-
tioDs of that body, commonly known as the
Morgan bill, and in the House of Repre-
sentatives we found pending 90 measure as
a basis for legislation upon the subject.
We placed your memorial In the hands Of
the Hon. George ID. Wise, member from
Virginia, for presentation to the House.
This presentation was made, and your
memorial was referred TO the committee Of
which Mr.. Wise is chairman. the Committee
on Interstate aud Foreign Commerce.
The Senate bill will be reported from the
Committee on Foreign Relations to the Sem
amendments, which will secure the early
completion Of the canal and place it under
the control of the Government, in accord
ance with the recommendations Of tie New
Orleans convention.
Your committee acknowledge with CRATE
ful appreciation the helpful assistance of
disinterested citizens here aud elsewhere,
and especially the great influence exerted
BY the memorial TO Congress unanimously
adopted by the Legislature of the sovereign
State OF Alabama, urging the Immediate
construction of the canal and placing it un-
der tile control of the Government of the
United States. The city Of New Orleans
also. through the City Council, Board OF
Trade, Cotton Exchange, Chan bers Of Com
merce and Industry, Sugar and Rice Ex-
change. Stock Exchange. Mechanics Deal
ers and Lumbermen's Exchange and
Maritime Association has promptly for
warded its hearty Endorsement Of this pro-
ject.
You, by your unanimous vote az New
Orleans, instructed us to call on you for any
assistance in your power. La accordance
with that resolution we urge assistance In
the following direction:
First-In your own locality and elsewhere
bring TO bear such influence as you can.
directly or indirectly, upon representatives
In Congress, not only that favorable action
may be had upon this great work, but es-
pecially that it may be had now.
Second-Write to your representatives In
the State Legislature or see them personally,
that action may be taken in your State
similar TO that taken by the State of Ala
bama.
Thirdly letter, interviews and other
ways that may suggest themselves to you
promote a continuance of interest in this
project through the press OF your community