Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-12-22
A BILL REPORTED By SHERMAN,
Cnats.s in Tho Section Relating Il
The Issue Of Stock.
THE ANri.oPrIos EiLI.
ur. PETER Of Kassn. INntHtna the
Views OF the FARMERS ON the
subject

WAgtISoroS, ID. O., Dsc. 2i.-Mr.
,to.,,,, 81, Ai.b.,. ,oday p,.a.ul.e,
'Vo"a a.. :
10 tue senate "Jo'n' ne,"o''"' rum '''e
senate and house OF Alabama urging
that such measures be adopted by
r.,,.-.... =. ,,o,ld ..c,,,. ,ha sn..d,
"O"e .,,'
CONJUNCTION Oh 'he N'csiAs"h c'pa'
and It's control by tho United States.
In I'm. same connection Mr.. Bherm, n
:, n,,,. ,o,,..d ,,or, ,h,. ,,un,,,..,
'" o"'o 'spo,s ,.,'e
on foreign feihtons p"i W ainenu 'io
act incorporating the Nicaragua canal.
IL was placed on the calendar, and he
gave notice that he would ut as early u
day ~ practicable attempt TO secure
action upon IL.
.,. - .,,o.,.o,. ,x, ,,
'""
reported by Senator Sherman IL drawn
on substantially the same lines as the
bill reported from the committee 20 tho
last Congress, including rs II does a
proposition to guarantee the bonds OF
the company 10 the extent Of $780,
OO0, 900 10 aid In the construction oftbe
canal. The new bill, however, con.
tains come additions which Increase
the obligations OF the company rs
well rs the security Of ths gov
eminent. For instance, the real
anu personal property and fran.
chises Of the company are Included
In the liabilities. Ii IL provided
that all stock heretofore subscribed for
and issued shall be called In aud
cancelled; all bonds Issued redeemed
and cancelled, and nil outstanding
obligations satisfied before the act
takes effect; dates changed 10 make
the bonds issue In January, 1893, ami
mature In 1853. But they are also
made rcdeemaole ut the pleasure Of
tho United States after 1858. The sec
ton requiring the company to execute
u mortgage TO the United States as
securely Tor the guarantee is amended
by the addition OF n clause requiring
the mortgage TO contain u provision for
/ a sinking fund for the payment OF the
bonds at maturity. II the company
default In the payment OF interest or
other respects before the canal 10 put In
operation, tho right OF foreclosure shall
II once attach In favor Of the United
States. The bill excludes from OK.
penditures that may be- taken into
.....t D., ka n.fa IN IN. Nt,. IN ,,,a
Construction company for expendi-
.urcs by them, anu for concessions TO
Nicarauguh aud Costa Rica, and the
total amount, principal aud Interest Of
the bonds that may DO Issued for first
payment, 10 fixed ut 81, O0O, 900 instead
VI 81, 900, 600 az In tho original bill.
Perhaps the most important changes
| In the bill are those made In the section
relative TO the same stock. In the new
bill this Is limited to 500, 900, 900 10 be
| retained 10y the company. The
amour Mt stipulated Ia TO he delivered TO
tho governments OF Nicaragua and
Costa Rlca according TO the conoes.
sions, and the remainder IA to DO
Issued to the United States, to be voted
by the President OF the United States,
or his pr0xy,at tho stockholders' meet.
ings, and but three directors ara TO DO
| selected from holders OF stock other
than that owned by the United States.
In the last section an amendment 10
made so that ten instead OF sig OF the
fifteen directors shall be appointed by
the President OF the United States, not
more than nve OF whom shall DO from
one political party.
RrsoIurIos
'"
directing the committee on census to
Investigate tho charges OF partnership
against certain census enumerstors was
sgreed to. This concurrent resoIu.
ton for the holiday recess was agreed
TO-.
Then the McGarrahan bill was taken
up. Hunton spoke In favor OF IL.
HuntOn had not concluded when the
morning hour expired, and the anti
option bill got the right OF the day.
The suggestion by Sanders Of Mon.
tana that the latter bill be laid aside
informally without losing Its place, 80
the discussion OF the McGarrahan bill
might go on, was objected TO by Wash.
burn Of Minnesota.
Washourn, however, yielded toallow
Perkins OF Kansas to address the SEN.
ate In favor OF tho resolution for the
appointment Of a committee 10 tre At
with the hve civilized tribes Ia Indian
Territory 70 induce them TO take