The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-03-12
BIG SHIP CANAL.
Company Formed to Connect
Great Lakes With the
Atlantic.
CONGRESS ASKED TO GIVE A CHARTER
Capital Stock Fixed at 100000, 900
"Details Of the Pro-
ject.
CONGRESS ASKED TO GIVE A CHARTER

Mansbrough and in the House by Mr..
Cooper Of Wisconsin. to incorporate the
Maritime Canal Company of North
America. providing for ~.the construction
sef ship channel not less than twenty
six feet in depth and three hundred feet
in width, from the Great Lakes to the
Atlantic, is wholly unlike the three
dozen other canal and other waterway
bills now pending in Congress. 1t asks
for no Government appropriation, aid
or guarantee, and wants no money for
even a survey.
1t simply seeks a Federal charter be-
cause the company propose to engage in
Interstate business and commerce, for
canal from Lake Erie to Lake Ontario,
and from Lake Ontario of the st. Law
renee River to Lake Champlain, and
thence to tide water in the Hudson
River.
The charter, which is said to have
been drawn by Frank A. Flower, secre-
tary and head of the Executive Board
of the International Deep Waterways
Association, is lengthy and very COM
plete in all details, providing for regulat-
ing traffic and tolls by the Interstate
Commerce Commission; for seizure for
the public use and welfare in case of war
or invasion or whenever it shall be deem
ed wise and necessary by the Government
and for a. rigid limitation of tolls by, as
well as annual reports to the Govern
ment.
The company asking the charter has
been at work for three years on the
project: owns a valuable franchise for a
ship canal from LakeErie ITO the ocean
via Montreal, has spent er 100000 in
surveys and preliminary work, and owns
the patents on the great Dutton Pneumat-
ic Locks, the first of which is now going
in at Lockport. the Ere Canal, to take
the place. in one lift. of all the locks at
that point.
The object Of the company is to make
an ample ship route from the great lakes
to New York City and prevent a further
diversion Of its trade, which is now so
annoying to that port. The charter men
tions no foreign connections or routes,
and it is. said that the promoters have
found that the route from Lake Ontario
down the st. Lawrence nearly to the
4Sth parallel and thence to Lake Champ
lain. all on American soil. is entirely
feasible and. using the pneumatic lock,
can be constructed for about sixty per
cent of the estimates hitherto made for
other plans of getting down to the level
of the Hudson River.
The charter provides that for all its
canals, locks and works there shall never
be issued more than $780, 600, 900 of bonds,
preferred stock and debentures; that no
more than five per cent shall be paid
thereon, but that tolls shall be steadily
reduced SO as to keep the dividends
and payments within that sum; that
that works shall commence within three
and be completed within ten years and
that it's terms having been complied with
the instrument shall continue in force
forever unless the property shall be as
sumed by the government for the free
use of the public.
the persons seeking this charter has a
broad and liberal charter for ship canal
from Lake Erie to the Atlantic through
Canada, granted by the Dominion Gov
ernment with the privilege of using and
enlarging the Welland Canal. which is
very important, and that such a route
ican soil to the seaboard, it is true that
Secretary Flower drafted charter for
an exclusively American route and in
sduced the company, as I am informed,
be demonstrated whether a similar char
ter could be secured from the Congress
Of the United States. I think he is
to be glad to grant such charter. for,
while it costs nothing from the public
treasury, 1t is in the direction of deyel-
oping our own country and commerce,
providing facilities to enable our produ-
cersto compete successfully, which now
they cannot do. with foreign nations and
also opening some other field for the in
vestment of our surplus wealth than the
periodical issue of Government bonds. The
corporation is backed. by ample wealth.
many Of the incorporators to be among
the very best and richest men in their
Il am told that 4 our Congress will
not grant the required charter the COM
pany Is prepared to and will go ahead in
Canada. The western producers complain
hitfprlV of tolls aya
at Buffalo, laid as thick as the traffic
will bear by the elevator pool, and as
Ship channel through Canada. to the sea
would seriously cripple the business of
the port of New York and correspondingly
strengthen Canadian exporters, Importers
There is a universal demand for an
outlet for the enormous and growing
board. We have an international COM
mission to examine into the matter and
numerous bills are. pending in Congress
tions, estimates and reports. The condi-
ton of the public. treasury makes it
practically impossible to enter upon any
interest of commerce; hence see another |
reason for granting this .charter-the
aa0n a o nay get at pryae hands any what
siVe channel 81 81 government s men funds m Apu1 and
channel d @ Would &C accommodate % ns more pnep9sedd and
have more than three times as much as |
the Suez Canal and the estimated Nicara- I
qua Canal tonnage combined
Senatorial Courtesy on the Wane.
Ever since the adoption of the Reed
rules in the Fifty-first Congress. there
has been a tendency on the part of the |
Western press and people to approve the
business methods of the House and to
censure the dilatory methods Of the Sem
ate. Senatorial courtesy might prop
erly have served good purpose fifty I
years ago when the number of Senator'S
It means obstruction to legislation. ri |
places the control of the Senate praeti-
cally in the hands of the minority. As |
long as 1t prevails, a prejudice against /
the Senate viii exist in the public mind
The people do not care to have their |