Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1899-01-22
THE NICARAGUA CANAL BILL
Passed by the Senate, Without Divis-
ion, Yesterday.

ion, Yesterday.
ALL OPPOSITION TO A VOTE DIS
| APPEARED BEFORE THE BILL
WAS FINALLY PUT UPON ITS
| PASSAGE-ALL WHO DESIRED
TO MAKE SPEECHES HAD MADE
| THEM-THE PROVISIONS OF
THE MEASURE - HOW THE
| MONEY IS TO BE PROVIDED,
AND THE CONTROL OF THE
| UNITED STATES MAINTAINED.
| Washington, January 21.-The Sem
ate to-day passed the Nicaragua canal
bill. A number of amendments were
made to the bill and there were innu-
merable short speeches during the day.
There was, however, no opposition to
vote when the time came and roll
call on it developed only six votes in
opposition to final passage.
| The anti-scalping bill was taken up
on vote of SO to 81, but no effort
was then made to continue it's con-
sideration. The effect of the vote was
| to give it the first place on the cal
endar, but the understanding is that it
shall not be pressed in opposition to
the peace treaty or the appropriation
! bills.
The Nicaragua canal bill as it passed
| continues the name of the Maritime
Canal Company. 1t provides for the is
suance of one million shares of stock
of $500 each. The canal company is
| required to call in all the stock issued
| except that held by the Nicaragua and
Costa Rican governments. The COM
| pany is also required to redeem and
cancel all bonds and scrip heretofore
issued by the company, and to satisfy
all cash liabilities. To enable the COM
| pany to comply with these require
| ments, treasury warrants to the
amount of $5,000,0O0 are authorized
with proviso to the effect that only
so much of the amount shall be paid as
shall be required to pay the actual cash
value of the rights, privileges, fran
chises and property at the time Of the
payment, the value to be determined
| by commissioners to be appointed by
| the President. This being done, the
| Secretary of the treasury is authorized
to subscribe for $4,000 shares of the
oompany's stock for the government OF
the United States.
! The present members of the board OF
| directors are then to resign and
| board of seven is to be appointed in
| their stead, consisting of five on be-
half of the United States and one each
| on behalf of Nicaragua and Costa RIGA.
| The directors on behalf of the United
States are to be appointed by the
| President and confirmed by the Senate.
No two of them are to be residents of
any one State, and no person who has
| heretofore been interested in the canal
| company is to be appointed to this Of
| fee. They are also prohibited from be-
| ing interested in contracts on the canal.
Each of the directors except the presi-
| dent, is to receive a salary of $4,000
| per year, and the president is to have
| $4,000. All travelling expenses are to
| be paid. Annual reports are required.
| There is a provision against declaring
| dividend except upon the net earn
| ings. The company is authorized to
contract for the completion of the canal
within six years. The payments are
restricted to $40, 100000 annually. The
canal is to be large enough "for the use
of the largest sea-going vessels at a
cost not to exceed the estimate of the
| engineers and not to exceed $115,O00,-
| 000."
This amount is made a permanent
appropriation for the work, to be used
as occasion may require. The bill gives
the government a lien upon the prop
erty to secure the payment of the mon
eys advanced and the President is en-
powered to declare forfeiture of the
property to the United States without
the necessity of judicial or other as
| certainment. Thereafter full title is
to rest in the government of the Uni
| ted States. The President is author
lied to suspend payments at any time.
The President is also authorized to
secure any change in or modification
of the terms of the concession either
from the concessionaries or from Mica
ragua and Costa Rica. In case Of fail
ure in such negotiation, the President
is also empowered to negotiate for an
other route across the Isthmus. He Is
| further requested to open negotiations
for the abrogation of the Clayton-Bul-
wer treaty or any other treaty found
to be in existence and standing in
the way of the construction Of the
canal.
The neutrality of the canal is guar
| anteed, but the right TO protect it
against the interruptions OF business
between the Atlantic and Pacific coasts
of The United States is reserved