The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-01
THE AGREEMENT RATIFIED.
New Canal Concession Approved by
the Congress of Nicaragua.

MANGUA, Nicaragua, Oct. H.-After
four days public discussion the Nicaraguan
Congress has unanimously approved the
agreement Professionally made between
President Zelaya and the American con-
tractors and engineers. E. F. Cragin and
Edward Eyre, authorizing the construction
of an interoceanic canal and empowering
the concessionaires to negotiate with the
Maritime Canal Company. The adoption
of the clause in the agreement declaring
that the concession to the Maritime Canal
Company will terminate on Oct. 8, 1899, was
received with prolonged cheers from con-
gressmen and the public in the galleries.
Congratulatory kilograms have been re-
ceived from the chief cities of Nicaragua
and the neighboring republics.
what Grace and Hitchcock Say.
NEW YORK, Oct. S1.-William r. Grace
denied emphatically to-day that the Near
aguan ship canal syndicate in which he is
interested, and which IS represented by Ed
ward p. Cragin, of Chicago, and Edward
Eyre, of New York, Lad been or was going
to be dissolved. Mr.. Grace authorized the
statement that a new company would be
formed for the purpose of building the
canal. This company, he said, would have
ample financial backing, but he did not care
to give the names of the stockholders at
present Mr.. Grace will be at the head of
the new corporation. He said: You may
say that this concession has not been OBJ
tanned for obstructive purposes, nor will
company be formed to combat any other in
terests The main question is to build the
canal not to engage in discussion or litiga-
ton with others.
President Hiram Hitchcock. of the Mari
time Canal Company, of Nicaragua, was
asked il the concession held by his COM
pany had been abrogated or declared for
felted Tor any cause by the Nlcaraguan
government He replied: Nv nave no in
formation that the Nicaraguan government
has zone anything of the kind. TINS COM
pany holds concessions from Nicaragua and
Costa kica The Nicaraguan concession
runs for ten years from October, 1888, and
it contains provision for its extension.
AS to any negotiations now going on,
either here or in Nicaragua which con-
ilict with the rights of the Maritime Canal
Company, l have only to say that / do not
successfully oppose the government and the
people of the United states in their de-
termination that this canal shall be con-
structed now and under the present con-
cessionS and charter. Further than that
may say that it would be a work of mani
fest injustice for any mbnetion of our
citizens to attempt, directly or Indirect
~, to supplant tins American company in
the rights and property of an enterprise
which it has so truly conserved until all
could see that the fullness of its time had
come"
When Mr.. Grace's attention was called to
the foregoing statement of President Hitch
cock he remarked that he had nothing fur
Their to say than that the Cragin-Eyre syn
dictate had obtained a bona-tide concession
to build a Nicaraguan ship canal and they
meant business. Mr.. Grace declined to COM
ment on his previous statement that the
new company would be formed Ito combat
other interests"