Arizona republican., 1898-11-15
NICARAGUA CANAL.
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those who control the syndicate was to postpone action, hut i5 was pointed ou, that if action was postponed until No vember then negotiations would nec- essarily be made with the United S,atss of Central America, which was to come into existence on that day.
 What the purpose of pOStpOnemcnt was is not clear, but certain capitalists believe that Mir Cragin and his friends If they were brought into new syn dicate. would be able to get concessions from the republic of Nicara qua before the existence of that republic lapsed into the republic O. the United States of Central America Therefore, there was a quiet understanding that the old syndicate should be dissolved. On mo- tion Of John D. Crimmins it was dis solved some time in July last, and i'm mediately thereafter Q new syndicate was formed.
 Mir Cragin, representing the Chicago interests, aid Mr Eyre nephew of William R. Grace and an officer in the corporation of William R Grace & Co.,, went to Nicaragua for the purpose of securing new concessions. They found that the president Of the republic of Nicaragua was morc than willing to listen to them. He said that his re-
 
 money for public purposes, and in the name of the republic he was willing to negotiate concessions which he felt sure the Nicaraguan congress would confirm if the new syndicate would lend Nicaragua S500,000 in gold at 1 per cent, s100.000 Of which was to be paid immediately upon confirmation Of the concession.
 It was said then that the Maritime company would probably insist upon q renewal of it's concessions after Octo- ber g, 1899, but the president of Nica- rasua was of the opinion that it would be impossible fortthe Maritime com pany to do anything prior to that date, which would justify the renewal Of the concession, but he added that the ob- liga.ions to the Maritime company must be respected up to that date. Af- ter that, if the cOncessi on was not re- newed, the only recourse of the MSrl- time company would be in the court of Nicaragua, which would no, Oe very likely to give a judgment in favor Of that company.
 CRAGIN SYNDICATES POSITION.
 So it appears that Mir Cragin and his associates, who are confident that the canal can be built for not more than @11G, ,000, 900, having withdrawn from the earlier Syn0icates.. were brought into alliance with the group of cdpi- taiists whom William R. Grace repre- sents. The concessions which this syndicate believe will become alive on October 10 next may be allied with those which the Maritime company now possesses.
 The majority element in the Mari time company. however, is bitterly op posed to any alliance of that kind, and is Of the opinion that the creation of this new syndicate will embarrass con- sress. retard the construction of the canal, and may compel the government to undertake to make treaties with the United States of South America by which the rights obtained by the Unit ed States under the treaty which Cleve- land withdrew from the senate may be reatirmed. At all events, the Maritime company expects to make an earnest plea with congress for the passage O. the bill similar to that under cOnSid- cration last winter in which the Mari time company alone was recognized.
 On the other hand, it is now under