Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-15
THE NICARAGUA CANAL.
Period Of Concessions to the American
Company Has Nearly Expired.

Company Has Nearly Expired.
York Herald says: The fate Of the Nicara-
guam canal seems to be trembling in the
balance. and the Pacific coast shareholders
have been appealed to for assistance. SO
great has been the interest aroused that
a consultation Of resident shareholders has
already been held and a partial under
standing has been reached.
The first intimation they had that any
thing was stirring in regard to the canal
interests was conveyed by kilograms from
Thomas B. Atkins, receiver for the Nicara-
guam Canal Company, asking that the IN
terests represented in San Francisco would
consent to reorganization Of the Canal
Construction Company. On the heels OF
Mr.. Atkins request came protest from
certain large New York holders of the
stock warning local shareholders against
giving any written assent until letters
were received These letters are now on
the way and are expected to arrive this
week.
In the meantime an advertisement has
been published in the papers of this city
calling upon the stockholders Of the Mica
raguan Canal Construction Company who
may desire to assent to a reorganization
scheme. which the majority of the stock
holders, it is asserted, have already signed,
trail Trust Company Of New York before
February next, or be excluded from the
benefits Of the proposed reorganization.
man. United Bark building: smith Weed.
Plattsburg, N. Y; Henry e. Rowland
Of Anderson & Rowland; Richard l.. Ed
wards. president of the Bank of the State
OF New York; John J. Emery of Emery
Bros, CINCINNATI: Wilhelmus Mynderse OF
Butler. Stillman & Hubbard. and e. X.
Sibley of Marquay & Parmly. New York.
1t will be seen that reference Is made only
to the Nicaraguan Canal Company, not a
word being said about the Maritime Canal
Company of Nicaragua, which Is a corpora
ton that holds the concessions for the
canal. This fact has given great cause for
anxiety to holders of stock in the original
canal company. II the construction compa-
ny Is not able to go ahead in some form or
other, the concessions to the Maritime
Nicaraguan and Costa Rican governments.
will be declared forfeited, and the tenure Of
the American corporation which holds the
United States charter will terminate.
limited at in a letter written about ten days
ago by President Zelaya Of Nicaragua to
his minister at Washington, In which Presi-
dent Zelaya commanded Minister Guzman
to call on President Cleveland and say that
he desired to know whether the United
States government Is In accord with the
Nicaraguan Canal Construction Company,
and whether government aid will be given
menced, and on which $60OO.OOO has al
ready been expended.
The Nicaraguan president drew attention
to the fact that If six months shall elapse
without any work being done on 1t, the con-
cessions will lapse. Four months have al
ready elapsed since operations on it were
suspended by order of the receiver.
President Zelaya explained that the Mica
raguan government has no desire to cancel
the concession, provided there is a reason
able prospect for a continuance of energetic
construction. as it preferred that the work
shall proceed under American management.
He added however, that, failing in the
active and substantial support of the Unit
ed States government, the Nicaraguan gov
eminent would consider 1t proper and wise
to cancel the concession when its terms
would permit Of such action, in order that
the Nicaraguan government might be able
to enter into negotiations with European
syndicate. which. 1t Is understood. stands
ready to apply for a new concession.
For the new company a capt. alization Of
$12,OOO,OOO is proposed. the plan being to
take the securities of the Maritime Canal
Company as fast as certain parts Of the
work are completed, and by realizing on the
bonds obtain money to go ahead with op-
erationS. The sum of So, QUO, 100 has already
been.put out In this work, and it is intimat-
ed that $06.OOO,0OO more will complete 1t.