The times. [volume] (Richmond, Va.) 1890-1903, 1895-11-29
acted upon by the Board OF PEN
sion Appeals. and finally adjudi-
Gated and disposed OF by the As
sistant Secretary ................


acted upon by the Board OF PEN
sion Appeals. and finally adjudi-
Gated and disposed OF by the As
sistaht Secretary ......,..-......... e,eso
Blance pending July /. is95...... 312
Stress is again laid upon the recou,-
mendation of the previous year for lcgis-
latiou which will secure for their main
tenance. TO the wives and children OF
pensioners who unlawfully abandon
them. a portion OF the bounty paid such
pensioners, and also for legislation which
will remedy the evils arising from the
manner OF making the quarterly pay
ments by checks direct at the agencies
TO certain weak and incompetent persons.
who on such occasions are subject to
schemes OF wicked and designing indl-
viduals, and thereby induced TO squander
their pension money.
THE RAILROADS.
One OF the interesting features OF the
report Is the discussion OF the relations
between the government and the bond.
aided roads, and the possibility of coll
lecting the government debts from these
roads. The report urges that two things
are TO be considered
l. The collection of the debt due TO
the government. and (2) the creation
OF great through line from the Mis-
souri, 10 the Pacific. which was the origt-
nal purpose of the government leading
to the issue Of subsidy bonds He states
that the government is already out sll1,-
$4,000 upon these roads, and that the
first mortgage bonds only amount to 1884,
$4,000; that the property is worth vast
ly more than the first mortgage bonds.
and that the government interests can be
protected. If necessary, by taking Up
these bonds
All these bonds are now maturing and
draw per cent. and Secretary Smith be-
lieves they could easily be replaced with
a 3 per cent bond, II the government
guaranteed them. The net earnings OF
each one of the lines during the past
ten years. have made an average OF
nearly per cent on the sum of the first
mortgage bonds. and Of the government
subsidy bonds
THE MARITIME CANAL COMPANY.
The annual report Of this company is
not required by law TO be filed before
the first Monday I'm December. but in
preliminary statement submitted the fol-
lowing facts appear, relative to the con-
ditiOn of the company, and the progress
OF the work up 10 the present time.
Since the Organization OF the company
the sale Of 1915 shares OF It's capital
stock, and from other sources. was
81, 100, SS0.Sl. Ii has paid Tor prop
erty, labor, and material FUR
nished in the work OF constructing the
canal, and in administration expenses.
ST. 100. 522. 25, and 81 900 shares OF full-paid
stock, OF the value OF 50 $4,000. and Is
obligated for S5.S55.O0O OF It's nrst-mort-
gage bonds. II has also issued 10000
shares OF It's capital stock Of the par
value Of slS0O0,Oo0 i'm payment or con-
cesslonary rights, franchises. and other
property. Two hundred and twenty-five
thousand dollars OF the amount first
named was represented by a claim
against the Nicaragua Canal Construc-
ton Company, for cash advances on ac-
count OF purchase OF the equipment.
etc, IN liquidation OF which the Mari
time Canal Company has received and
holds In its treasury obligations repre-
sentlng SJlS.50O Of its first-mortgace
bonds, in addition 10 2.f20 shares of its
capital stock, which. I'm liquidation Of
said account, were transferred and de-
livered TO a trustee. for the use and
benefit Of tho company.
The liabilities consist Of the amounts
siill due under the concessions granted
10 the company the Sj.s55.ooO irst-mort-
gage bonds. before mentioned. which are
DIE 70 the assiences OF the Nicaragua
Canal Construction Company. for mate
rails furnished and work performed in
the construction Of the Inter-ocosnic
Canal, and Of outstanding cash liabiI-
ties to an amount not exceeding $1,000
The assets consist Of lbs unissuod can't
tai stock, of the S5lS so hrst-morteage
bonds and the 2.f2o shares Of It's capital
stock received In liquidation Of the claim
above referred 10. and OF concessions
franchises. plant, railways, lands. build
ings telegraph and telephone lines. loco
motives. cars, machinery, etc.. I'm Con-
tral America, purchased ar COS, Of $50
w from the Government Of Nicaragua
The work ON The canal was entirely
suspended in August OF 1893. by reason
on me hnancal embarrassment of the
Nicaragua Canal Construction companv
winch had contracted with the Maritime
canal Company for the construction Of
me canal. Tho reorganization of thar
company has however. been successful
~ accomplished, and its assignee. the
Nicaragua Company, a corporation organ
yea under the laws Of the State of Ver-
mont, is reported 70 be making active
preparations Tor resumng work on the
canal under the original contract. A
commission Of engineers having. m mr.
suance OF authority of Congress nj its
ast session, been appointed by the Tlesi-
lent 10 examine and report upon the
route ana surveys OF the Nicaragua consI.
me company, II is stated. with a riow TO
aiding the commission in every ROPER
way, caused the entire line ~ tne route
10 be prepared for their Inspection, and |
placed It's engineers, surveys, maps. etc, :
at their disposal.