The morning call., 1893-05-17
MILLIONS IN 1T
The West Can Now Help
Nicaragua.
BIG MEN FLOAT A COMPANY
Articles Of Incorporation of the In
ternational Construction Com
pany Filed.

Western enterprise Is showing decided
disinclinatlon to be left out when there are
any big schemes within its reach, and oul
leading men are in no way behind Eastern
or foreign capitalists in seeking new field
for the investment of dollars and the
profitable use of their fertile brains.
For months past dozen of San Fran
cisco's best known men have had in con,
temptation large construction company
TO take a hand in the making Of the Mica.
ragua canal. and get share of its honor:
and rewards fer the Pacific Coast.
AS result of their planning articles ol
incorporation were filed yesterday Of the
international Construction Company"
The capital stock is placed at S10.G00.000
OF this sum $500 has been already sub
scribed.
The following well known names con-
sttute the directory and subscribers
John W. Mackay, William l.. Merry,
Nicaraguan Consul, Irving NJ. Scott of the
Union Iron Works, Aionzo c. Hamilton,
the Nevada silver man, AlvinZa Hayward,
James b. StttsOn, Senator Z. \. Felton,
ID. l.. Bliss, John ]. McKinnon, L. Will
liams, Louis GeTstle.
The Object of the company is to under
take the construction Of the western por-
tion of the Nicaragua canal, that part be-
tween Lake Nicaragua and the Pacific
Ocean, under a contract with the original
company in the East if satisfactory ar
engagements can be made. This is not
doubted, as it is expedient for obvious
reasons TO have the western half OF the
work done by contractors on this side.
The distance which the intended work
Of the new organization will cover viii be
between seventeen ard eighteen miles,
bringing the canal out at BriIo on the Pa
cifc Coast
The best engineers have been over the
ground carefully and compute the esti-
mated cost of the western part of the
work at something like S22,668, 221.
When the parent company shall have
completed its arrangements financially TO
finish the canal throughout the Interna-
tonal Construction Company will then be
prepared to take the contract for excavat-
Ing and building the western division.
Those men who are prominent in the or
ganZ1tlon OF the company have now done
more than has yet been accomplished
toward the truction of the canal, and
they, being men of well-known business
ability and financial stability, VIII no
doubt bring their end TO successful ter
minaton.
1t will not be q close corporation by any
means and the stock Of the company viii
be placed upon the open market in lots
not beyond the purchas ng power of the
ordinary legitimate speculator. Thus
local people will have an opportunity to
invest in an undertaking which has every
appearance of being highly remunerative.
While turning over their money at a
profit they will also have the satisfaction
of knowing that the money is all being
spent on the Pacific Coast and to bring
about an end that cannot fail to add in-
creased prosperity to this city.
Everything depends upOn the actinn of
the Nicaragua Canal Company in New
York. There is good reason to believe
that this company will shortly be in pas
tion to get on with the work of construc-
tion, and the sum of S15,O00,000 will be
available in the course of a month for pre-
paratory expenses.
The estimated cost of the whole canal
Is about SIS, ,000.o0 at the lowest, and with
all the extras, wear and tear, etc, 1t Is
thought that the outside limit will not ex-
coed Sl0o,0000o0.
Tie corporation which was organ lied
here yesterday was formed in anticipation
of the original company being shortly
financially prepared TO commence the great
work.
Then the International Construction
Company will make bid for the western
part of the work. aud its mem bers have
little doubt but what its bid Will be ac-
cepted.
Being cnmnaratiyely near tho Eronnd
our people can put their bid In at a figure
which, while absolutely defying compe-
tition from more distant centers, will
leave plenty Of room for handsome
profit
The western portion OF the canal route
lays principally over rocky ground, and
will call for considerable engineering skill
on the part of the contractors.
Three or four locks will probably be
necessary between the lake ana the ocean.
II all goes well. the work should bs
completed in from three to four years.
1t will entirely depend upon the energy
with which the undertaking is prosecuted,
number cf men employed and so forth.
The $500 subscribed is merely to cover
the preliminary expenses OF organization,
etc, and allow the corporation to be in a
position TO bid for the work when the
home company calls for tenders. Until
then no more cash viii be asked for.
NJ. NJ. Estoe. the company's attorney,
has been perhaps the most active man in
bringing about the formation of the corpo-
ration.
The whole thing was originally sug-
gested by Warner Miller, head of the Me
aragua Canal Company in New York,
when he was out here some months ago.
lie remarked once or twice that California
ought to take an active part in the con-
siruction of the canal, and suggested that
a company here might contract for the
western portion.
Mr. Estee and Mr.. Miller met again at
the International Congress of Central
American States some time after. and
spoke again OF the same matter. On his
return to San Francisco Mr.. Estee spoke
to Irving NJ. Scott about it. With the lat
ter gentleman to think was to act, and the
articles Of incorporation filed yesterday
are the outcome.
Mr.. Scott was seen at his home last
night in reference TO the scheme, and he
spoke in very hopeful tone as to the ulti-
mate success OF ii.
California has now a splendid chance to
get in and do something" lie said. Look
at the millions OF dollars it would bring
10 San francisco in return for all sorts of
supplies. What we want here is some
sort of productive work. San Franciscans
cannot always be spectators aud live of
each other.
This thing would be fine thing for
the city aud State, and the people can
show their patriotism by Investing in the
concern and helping to make it success.
"We have carefully selected the very
best men for tho directorate. each of whom
has something to recommend him for the
position and represents some particular in.
dustry upon the Pacific Coast"
bliss and McKinnon represent lum ber
while FELTON, stands for oil. Stetson know.
something about powder, and Hamilton
can give some idea of the mining or quar-
rylng aspect. L have shme experience in
engineering. and Captain w. l.. Merry
knows about as much of Nicaragua as Ii